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Rock Island Today

Tuesday, October 22, 2019

QUAD CITIES CHAMBER: Could your business have unclaimed property owed to you? Illinois State Treasurer finds Chamber $3,000+ in unclaimed money!

By Rock Island Today Reports | Jul 1, 2018


Quad Cities Chamber recently issued the following announcement.

The State Treasurer is holding 2.9 billion dollars in unclaimed funds for Illinoisans. The State holds these lost funds until they are claimed by either the original owner or their heirs. Ilinois State Treasurer, Michael Frerichs, paid a visit to the Chamber office and found $3,100 of unclaimed money through the states iCash.

The State Treasurer's unclaimed property program - now known as I-Cash - is one of the state's oldest consumer protection programs, dating back to 1962. The program safeguards more than 15 million properties valued roughly at $2.9 billion, working to reunite each with its rightful owner.

Each year, hundreds of thousands of new properties are added to the State Treasurer's I-Cash program. One in four Illinois adults who searches the State Treasurer's I-Cash database finds property to claim, and the average claim paid is $1000.

Want to know if there is any unclaimed property owed to you? Click here to learn more

The State of Illinois has a variety of programs for individuals and businesses to take advantage of. Find more information about the following programs below:

Ag Invest - For over 34 years, the Treasurer's office has been providing opportunities for Illinois farmers through the Ag Invest program.

Through Ag Invest the Treasury partners with approved financial institutions to provide qualified farmers and agriculture professionals below market rate loans to start, expand or add value to their farm operations. Learn more>

College Savings - Saving for a child’s college education is one of the most important investments you can make. According to the Center for Social Development, children who have a college savings account are approximately three times more likely to attend college. The Treasurer serves as the trustee of two Illinois 529 college savings plans. Learn more>

Secure Choice - Secure Choice offers Illinois businesses with at least 25 employees, that have been in business for two or more years, and who do not currently provide a qualified savings plan the option to either offer a private market savings vehicle, or automatically enroll their employees into Secure Choice. Learn more>

ABLE - The Illinois ABLE program is a tax-advantaged investment program that provides persons with blindness or disabilities the option to save for disability-related expenses without putting their federal means tested benefits at risk.

Illinois ABLE Is a member of the National ABLE Alliance, a partnership of 14 states representing over one quarter of the population of the United States. The goal of the National ABLE Alliance is to provide the most robust ABLE services possible at the lowest cost to account owners. Learn more>

Original source can be found here.

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