Sunday, September 23, 2012
Illinois Treasurer Holds $1.6 billion of missing money
News out of Springfield, IL shows that the state Treasurer's office which is headed by Daniel Rutherford has over $1.6 billion of unclaimed assets under the control of his office. The amount has swelled by over $100 million in the prior year. People have left dormant bank accounts and brokerage accounts can go and do free online internet searches to see if they have any cash coming to them. Also--it doesn't even have to be yours... You could be entitled to unclaimed funds from dead parents or deceased grandparents. One thing that kind of stinks is that when the state holds onto these funds you aren't earning any income or interest on the overall balance.