Illinois Treasurer

The board received Q4 2025 program updates regarding funded accounts and asset growth, discussed ongoing employer enforcement activities, and reviewed legislative updates including recent administrative rule adoptions. A quarterly report was presented covering program metrics, marketing activities, and field team outreach efforts. Market performance analysis was provided, detailing fixed income returns and equity performance. The board approved changes to the investment lineup to align with the upcoming program manager conversion and formally approved the renaming of the program to My Illinois Savings.

The committee meeting included updates on the status of current and past grantees along with the Fall 2025 finalists. A report was provided regarding the current application cycle for Spring 2026 and the financial status of the Charitable Trust Fund. Additionally, the committee discussed the Charitable Trust Small Food Program pilot, specifically the rules process and preparations for the upcoming application window.

The agenda includes staff updates regarding program implementation, enforcement, and the budget. The Board will discuss the quarterly report, focusing on program review, outreach, marketing, communication, and investment review, as well as the implementation timeline for the 2026 wave. Additional action items involve the approval of the Investment Policy Statement and the renewal of the Board Insurance Policy. The meeting concludes with a presentation on the environmental landscape by the AKF Consulting Group.

The committee reviewed progress on current grant cycles and unanimously approved the recommended recipients for the Fall 2025 grant awards. The meeting included a financial status report on the Charitable Trust Fund and a discussion regarding rules and terminology for the 2026 Small Food Program Pilot. Additionally, the committee established the grant focus areas for the 2026 calendar year and confirmed the schedule for future 2026 meetings.

The Board received an overview of the fiscal year 2025 independent auditor's report, which confirmed a clean opinion and noted significant growth in the program's fiduciary net position and net investment income. Staff provided program updates, including growth in funded accounts and assets, progress on enforcement efforts, and the status of the program administrator and legal services request for proposal processes. A legislative update was given regarding federal Saver's Match alignment and expanded Board authorities. Additionally, the Board discussed quarterly program reports covering employer engagement and metrics, field team outreach activities, and market performance updates. The Board also approved the annual Investment Policy Statement without modifications.