Illinois Treasurer

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Illinois Treasurer
General information
Office Type:  Partisan
Office website:  Official Link
Term limits:  None
Length of term:   4 years
Authority:  Illinois Constitution, Article V, Section 1
Selection Method:  Elected
Current Officeholder

Michael Frerichs.jpg
Name:  Mike Frerichs
Officeholder Party:  Democratic
Assumed office:  January 12, 2015
Compensation:  $135,669
Next election:  November 6, 2018
Last election:  November 4, 2014
Other Illinois Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerAuditorComptrollerSuperintendent of EducationAgriculture DirectorInsurance DirectorNatural Resources DirectorLabor DirectorIllinois Commerce Commission
The Treasurer of the State of Illinois is the chief financial officer of the government of Illinois.

The treasurer is responsible for maintaining the state funds and acting as the state's bank.

Current officeholder

The current officeholder is Mike Frerichs, a Democrat first elected in 2014. Frerichs previously served in the Illinois State Senate, representing District 52 from 2007 to 2015. He was sworn in as state treasurer on January 12, 2015, succeeding Republican Dan Rutherford in the office.


The treasurer's office is authorized by Article V, Section 1 of the Illinois Constitution.

Article V, Section 1

Officers: The Executive Branch shall include a Governor, Lieutenant Governor, Attorney General, Secretary of State, Comptroller and Treasurer elected by the electors of the State. They shall keep the public records and maintain a residence at the seat of government during their terms of office.


Here is a list of the standard qualifications necessary under Illinois State Law in order to be considered for the Office of Treasurer:


Illinois state government organizational chart

According to Article V, Section 2 of the state Constitution, state treasurers shall hold office for four years beginning on the second Monday of January after their election and until their successors are qualified. The state treasurer be elected at the general election in 1978 and every four years thereafter.


See also: Illinois down ballot state executive elections, 2014
Illinois Treasurer, 2014
Party Candidate Vote % Votes
     Democratic Green check mark transparent.pngMichael Frerichs 48.1% 1,694,884
     Republican Tom Cross 47.8% 1,685,659
     Libertarian Matt Skopek 4.2% 146,654
Total Votes 3,527,197
Election Results via Illinois State Board of Elections.


Article V, Section 7 of the Illinois Constitution addresses vacancies in the office of the treasurer.
"If the Treasurer...fails to qualify or if his office becomes vacant, the Governor shall fill the office by appointment. The appointee shall hold office until the elected officer qualifies or until a successor is elected and qualified as may be provided by law and shall not be subject to removal by the Governor."


The specific duties of the treasurer are outlined in Article V, Section 18 of the Illinois Constitution.

Article V, Section 18, Treasuruer - Duties: "The Treasurer, in accordance with law, shall be responsible for the safekeeping and investment of monies and securities deposited with him, and for their disbursement upon order of the Comptroller."

The main duty performed by this office is investing the state money collected and distributing it as needed. The office offers programs to help state citizens with their own financial well being such as classes to help manage money. A college savings program is also run by the office to help students in need.


The main divisions within the Office of Illinois Treasurer include:[1]

  • Accounting
  • Banking
  • Bright Start College Savings Program
  • Capital Litigation
  • Cultivate Illinois
  • Business Invest
  • E-Pay
  • Estate Tax Division
  • Executive Inspector General
  • External Affairs
  • Finally Home
  • Financial Education
  • Fiscal Operations
  • Illinois Funds
  • Information Technology (IT)
  • Internal Audit
  • Law Division
  • Legislative Affairs
  • Opportunity Illinois
  • Personnel
  • Press Office
  • Scheduling & Events Management
  • State Treasurer's TDD Line
  • Unclaimed Property Division
  • Warrant Division


See also: Compensation of state executive officers

The salaries of elected executives in Illinois are determined by the Illinois State Legislature as mandated in the state constitution. Article V, Section 21 of the Illinois Constitution also notes that executives cannot receive additional compensation beyond their salaries nor can their salaries be changed during current terms:

Article V, Section 21 of the Illinois Constitution

Text of Section 21:


Officers of the Executive Branch shall be paid salaries established by law and shall receive no other compensation for their services. Changes in the salaries of these officers elected or appointed for stated terms shall not take effect during the stated terms.[2]


In 2014, the treasurer received a salary of $135,669, according to the Council of State Governments.[3]


In 2013, the treasurer received a salary of $135,669, according to the Council of State Governments.[4]


In 2012, the treasurer received a salary of $135,669, according to the Council of State Governments.


In 2010, the treasurer received a salary of $130,800, according to the Council of State Governments.[5]

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Illinois Treasurer has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

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Illinois Treasurer - Google News Feed

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Contact Information

Illinois State Treasurer's Office
219 Statehouse
Springfield, IL 62706

Phone: 217-782-2211
Fax: 217-785-2777

See also

External links