Does the state have your money?
SPRINGFIELD – April 20, 2013 – Illinois State Treasurer Dan Rutherford is encouraging Warren County, Henderson County and Stark County residents to attend his I-Cash event in the area Tuesday, April 30 to determine if the state is holding any money or unclaimed property entitled to them. In fact, 5,264 owners in Warren County have $820,335 in unclaimed property and 2,152 owners in Stark County have $281,343. Henderson County has 1,755 owners with $228,565 and Mercer County has $608,617 that belong to 4,701 owners. This is according to the January list of
unclaimed property holders.
Tuesday, April 30
“People are thrilled to find out they have money just waiting for them through I-Cash,” says Rutherford. “I encourage area residents to come visit me at local I-Cash events for assistance in locating their money or property – plus everyone should make an attempt to review our online database annually so they don’t miss out on money or valuable assets the state is holding for them.”
The recent rebranding and marketing campaign has dramatically increased the number of searches on the I-Cash (formerly Cash Dash) website and the number of claims filed. In the first month after the launch of I-Cash, the number of web visits increased by 140 percent (69,087 to 165,683), and the number of claims increased by 322 percent (7,506 to 31,703) as compared to the month before the switch to I-Cash.
The treasurer’s Unclaimed Property Division’s costs, including staff, computers and travel, are paid for through the Unclaimed Property Trust Fund, and not by tax dollars. The I-Cash program helps reunite owners with their unclaimed property. The Unclaimed Property Division has $1.7 billion in cash, plus contents from Illinois safe deposit boxes that have been inactive for at least five years. During Rutherford’s first year in office, the program marked the first time in history that the treasurer’s office returned more than $100 million to the people who owned those assets. The total returned for 2012 was $129 million, a 27 percent increase over the previous year.
In past administrations, the I-Cash program returned about $80 million annually to owners. It’s common for people to lose track of their assets when they move or when loved ones pass away. Businesses and banks are required to turn over unclaimed accounts to the treasurer’s office. Some examples of unclaimed property currently held by the treasurer’s office include the following:
• Money from inactive savings and checking accounts
• Unpaid wages or commissions
• Stocks, bonds and mutual funds
• Money orders and bill overpayments
• Paid-up life insurance policies
• Safe deposit box contents.