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Dear Wisconsinites -
Happy Spring! 2022 has been a busy and productive year so far for the Office of the State Treasurer. We are excited to share our progress for working families as we continue to move our state forward. Recently, our office has:
- Launched the Wisconsin Help for Homeowners program
- Provided a record-breaking distribution for our public school libraries
- Called for the divestment of direct Russian holdings
- Invested in Wisconsin communities
- Advocated for a 401(K)ids program to help kids build wealth from birth
- Proclaimed Wisconsin Saves Week
- Traveled from New Glarus to Ashland to advocate for economic security
I look forward to continuing to build a strong Wisconsin and serving as your State Treasurer. Please know I can always be reached at treasurer@wisconsin.gov.
Forward,
Keeping Wisconsinites in their Homes - Wisconsin Help for Homeowners Program
Last year my Treasurer’s Task Force on Homeownership announced its actions to help Wisconsinites buy, fix, and stay in their homes. Capitalizing on our work and statewide network, we partnered with the Governor’s Office and the Wisconsin Community Action Program Association to launch the Wisconsin Help for Homeowners program. We know many Wisconsinites were unemployed or underemployed as a result of the pandemic and fell behind on mortgages, property taxes, and utility bills. The Wisconsin Help for Homeowners Program is the first of its kind to provide Wisconsinites with not only financial assistance but also wrap-around services that will keep folks in their homes. We know strong homeownership leads to strong communities!
As of April 6, 2022, there have been over 8,400 applications started in all 72 Wisconsin counties for a total of $25.6 million in assistance requested. The average request is approximately $10,000, and around $147,000 has already been sent out to assist with mortgage payments, property taxes, and utility bills.
If you believe you may be eligible for assistance, visit homeownerhelp.wi.gov to learn more and begin your application.
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Record-breaking Distribution to Support our Public Schools
On March 7, I announced that a record $40.6 million will be disbursed to public school libraries across Wisconsin. These funds will be used by librarians and media specialists as they continue to recover from the COVID-19 pandemic and expand offerings for students. As Chair of the Common School Fund, I'm proud of our effective investment work that has led to this record distribution, which is the sole source of funding for 90% of school libraries.
Since the announcement, I have been visiting public school libraries to share the good news and learn how these resources have been impacting our kids.
Not only did the Common School Fund have a record-breaking distribution, the Normal School Fund is heading towards a record-high distribution as well! Money from the Normal School Fund benefits the UW System, providing scholarships for high-achieving students and supporting environmental education. Learn more about the Normal School Fund here.
Calling for Divestment from Russian Assets
In response to Russia’s brutal, unprovoked invasion of Ukraine, I called on the State of Wisconsin Investment Board to immediately begin identifying any direct Russian holdings and make a plan to divest. Additionally, I announced that as Chair of the Board of Commissioners of Public Lands (BCPL), I would pursue a similar course of action for our funds. I am proud that the Common School and Normal School Funds have no direct Russian investments. This is not only the right course of action as a fiduciary, it is the right course of action for our state. Wisconsin stands with the Ukrainian people as they continue to fight against this horrific aggression. Read more here.
Investing in Wisconsin Communities
As Chair of the Board of Commissioners of Public Lands, I’m honored to announce that the State Trust Fund Loan Program has approved 20 community financing projects for a total of $6,635,465 so far in 2022. Since the start of the COVID-19 pandemic, we have financed over 300 projects to support local communities through the program. These financing projects range from broadband expansion to renewable energy to fixing critical infrastructure. Check out an overview of the BCPL’s projects here.
I had the chance to visit one of these projects, the Ashland Area Development Corporation (AADC), earlier this year to learn about the impact of our financial support. AADC is really making a difference in the Ashland area and building a strong, financially resilient community.
401(K)ids - Building Economic Security for the Next Generation
This spring, our 401(K)ids bill was introduced by the Legislature. The bill provides an innovative way to create an investment account for every child in Wisconsin so they can begin saving at birth. Each account is seeded with a modest investment from the state, and the account holder, family members, friends, philanthropic or business groups can also contribute to the account. Rather than a standard savings account which may have an interest rate of 2-3%, 401(K)ids accounts would be invested like a retirement account and would earn higher interest from 5-9%. The account can be used for retirement, first-time home buying, medical emergencies, or education.
Recently, 401(K)ids received a public hearing. This is the first step in the legislative process and shows that elected officials on both sides of the aisle are excited about this bill becoming a reality for our state. To learn more about the bill, watch my video explanation with Representative Evan Goyke here. You may read more about the bill here, and read my testimony before the committee here.
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Encouraging Wisconsinites to Save for their Futures
I officially proclaimed February 21 – 25, 2022, as Wisconsin Saves Week in partnership with the Wisconsin Department of Financial Institutions, the Wisconsin Bankers Association, the Wisconsin Women’s Business Initiative Corporation, and America Saves, the leading national campaign in promoting savings. The week sought to encourage Wisconsinites to start laying the groundwork for achieving their savings goals, whether that’s buying a car, paying for college, purchasing a home, or planning for retirement. By promoting tools and tips to help set a savings goal or make a plan to save, we can assist individuals and families as they build savings habits and become regular savers.
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Photo Recap: Fighting for Economic Security Across the State
When Wisconsinites do well, our communities and economies do well. One of the best parts of my job is traveling the state and meeting with Wisconsinites in our pursuit to build a strong state where everyone can thrive. Highlighted below are a few of the stops I made this spring to promote economic security for all Wisconsinites.
CHILDCARE: The cost of childcare is flat-out unaffordable for too many families in Wisconsin. I had the opportunity to meet with Corrine from New Glarus and Macy from DeForest who are childcare providers. We talked about the challenges they're facing and the need for investment in this industry that is crucial to Wisconsin's economy.
PARTNERSHIPS: I met with representatives from the Hmong American Center, Inc., the Wisconsin United Coalition of Mutual Assistance Association, and the Hmong Wisconsin Chamber of Commerce to discuss economic opportunities!
COUNTY TREASURERS: I’ve worked closely with the county treasurers to ensure taxpayers have the resources they need - most recently, we have worked on addressing ways to prevent property tax foreclosure & keep Wisconsinites in their homes.
Unclaimed Property: Do You Have Money Waiting?
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Do you have money waiting for you? You might!
The State Treasurer's Office works to promote the return of unclaimed money and property, from forgotten rebates, savings accounts, and estates. To search for Unclaimed Property under your name or your relatives, click here, and you can check if you have any unclaimed property here or by calling (608) 264-4594.
If you would like to stay connected with our office, please don't hesitate to:
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