SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ statement on the passing of former U.S.
House Republican Leader Bob Michel:
“Illinois has lost a true gentleman and leader. Bob’s demeanor and ability to listen created an era that refused to allow political gamesmanship to overwhelm common decency and respect.
“He was a strong conservative who knew he did not have to shout to be heard. His service to our country, on the battlefield and in Congress, is a testament to servant leadership that benefited our entire country, not just his hometown of Peoria.
“My condolences to his friends and family, and may Bob find peace reuniting with his beloved wife, Corinne.”
About the Illinois Treasurer
The Illinois Treasurer is the state’s chief investment officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans for college or trade school, increasing financial education among all ages, and removing barriers to a secure retirement. As the state’s Chief Investment Officer, he actively manages approximately $25 billion. The portfolio includes $13 billion in state funds, $7 billion in college savings plans and $5 billion on behalf of local and state governments.
The investment approach is cautious to ensure the preservation of capital and returns $28 to the state for every $1 spent in operations. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.
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