State workers who miss paychecks may become eligible for interest-free loans

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Michael Frerichs Michael Frerichs

CHICAGO – State workers who may miss paychecks during the budget standoff may soon become eligible for interest-free loans to help pay their bills.

According to Illinois State Treasurer Michael Frerichs, the loans are designed to make sure state workers will have financial options should they not get paid.

Frerichs is scheduled to announce a partnership with the Illinois Credit Union League Thursday.

A Cook County Judge on Tuesday ruled the Illinois Comptroller may only pay some workers at the federal minimum wage without spending authority.

The Comptroller, Governor’s office, and labor unions appealed the ruling.

Illinois started a new fiscal year at the beginning of the month without a budget. Lawmakers are still deadlocked on a spending plan.

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