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.

Illinois Cash Dash has over $1.5 billion

Illinois State Treasurer Rutherford says that the people in the land of Lincoln are owed over $1.5 billion in unclaimed assets.

Citizens may have forgotten about bank accounts, utility deposits or stock certificates that are eventually turned over to the state if their accounts stay idle for too long. Additionally, if family members pass away without a good accounting of their assets and money, valuables, cash and life insurance policies as well as safe deposit boxes get turned over to the State of Illinois and is just sitting there waiting for the heirs to contact Rutherford's office to file the correct paperwork and to be issued their checks for the missing money.

If you live in Chicago or else where in IL you can search for unclaimed money at the treasurer's website.

Tiki Barber Interviews the IL treasurer

Alexi Giannoulius, The State Treasurer of IL talks with Tiki Barber (of NBC) about his job, and how the state returns unclaimed money and unclaimed assets to the rightful owners.