SPRINGFIELD, IL (Chambana Today) – Illinois State Treasurer Michael Frerichs successfully returned $301 million to 321,558 Illinois residents through Illinois’ missing money program this fiscal year.
The missing money program, also known as I-CASH, is a program that helps residents of Illinois reclaim unclaimed property including the contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. The Treasurer is required to return the property regardless of how long and difficult the process can take.
“Putting money back in people’s pockets helps families and our state’s economy,” Frerichs said.
Frerichs’ efforts in restructuring and streamlining the missing money program has boosted the number of claims per year from 60,000 to 300,000. During his time in office, he’s given over two billion dollars in returns. Frerichs has also raised the Enhanced Money Match Program cap from $2,000 to $5,000. The Enhanced Money Match Program allows people to get their returns without even having to file a claim.
The Illinois State Treasurer’s Office recommends that people check at least twice each year at icash.illinoistreasurer.gov to see if missing money is waiting for you.