Democrat Frerichs poised for reelection as state treasurer

With 74% of the vote counted, state Treasurer Michael Frerichs of Champaign appeared to be on his way to another term.

As of midnight, he had 1.9 million votes to Republican Tom Demmer's 1.5 million.

Frerichs, a Democrat, has held the office since 2015 and was previously a state senator and served as Champaign County auditor as well.

During the campaign, Frerichs highlighted the $1.2 billion in investment gains the state saw during his tenure while reducing investment fees by more than $100 million.

Demmer, a longtime state representative from Dixon, said he would be an advocate for taxpayers if elected. He argued that his election would end the "rubber stamp" the treasurer's office has been for Democratic Gov. J.B. Pritzker and the Democrat-held state legislature.

The treasurer is the state's main financial officer. The treasurer's responsibilities include investing and maintaining state funds. The treasurer also operates the state's "unclaimed property" program where residents can check to see if they are owed money held by the state.