State Treasurer’s Office Sets I-Cash Record | Mix 106.9

The Illinois state treasurer’s office has awarded $200 million so far this fiscal year in forgotten cash and securities. That’s a record amount awarded in any fiscal year with two months remaining in fiscal year 2019.

“Reuniting people with their unclaimed cash and property is one of my most fulfilling duties as state treasurer,” said State Treasurer Mike Frerichs.

Individuals can search the state treasurer’s database base for their name or the name of their business or non-profit.

Frerichs says nearly 200,000 claims were fulfilled so far in fiscal year 2019 with an average value of $1,000.

Frerichs says the money could come from a variety of sources.

“It could be the last paycheck from a previous job you worked, it could be a refund on your deposit from your power company, your cell phone company owes you money that never got to you, or you could be the beneficiary of a life insurance policy you were never aware of.”

Frerichs said the increase in the number of fulfilled claims is the result of new technology making it easier for people, businesses and non-profits to file a claim. Paperless claims now are used when possible. Additionally, a change in state law allows the state treasury to send checks to qualifying individuals enve if they do not initiate a claim.

The state treasurer in Illinois is tasked with safeguarding unclaimed property. Illinois holds more than $3 billion in unclaimed property.

A link to the state treasurer’s I-Cash program is provided HERE.


via Mix 106.9

April 29, 2019 at 11:43AM

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