(Part 1 of 2)

The state of California’s unclaimed money department takes in roughly 300 million dollars each year. Why does it matter to you? Well, if you or someone you know is or has been a resident of the Golden State (or had any kind of business dealings, whether you knew it or not), part of that big heap of Cali lost assets might very well be yours!

Under the California unclaimed property (or escheat) law, lost money like forgotten checking and savings accounts, uncashed checks and money orders, mineral deposits, salary checks, cash and stock dividends, state of California unclaimed tax refunds, gift certificates, and other assets are turned over to the Treasury Dept. if the rightful owners don’t locate them within a given time period. This ‘dormancy period’ varies widely from state to state, but in Cali it’s three years. These unclaimed monies then get moved to the California unclaimed property div, where they wait in the state’s general fund until they are returned to the rightful owners. This is where state officials in-charge of the Cali unclaimed cash were recently criticized. It seems that they were eager to track down and take hold of the lost funds from the establishments holding them but but were less than enthusiastic about tracking down the owners in the Cali unclaimed money records.

(to be continued)

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CPF savings no longer need to go unclaimed
CPF savings left behind by members who have passed on will no longer have to be paid out in cash.

New Pension Funds Adjudicator undertakes backlog blitz
When Charles Pillai moved into his new office in April to take up the post of Pension Funds Adjudicator, he found that he could eliminate a large portion of the complaints backlog plaguing the office and that many complaints should have been resolved at retirement fund level.

Illinois treasurer’s office has $1.4B in unclaimed assets – KABC
So, how do you check to see if you’re among those with assets to claim? It’s pretty easy. It does seem strange, claiming your own money, but, apparently, thousands of Illinois residents lost track of their …

Unclaimed Cash: Finder Firms – KABC
FRESNO, Calif. (KFSN) — It’s tantalizing – the idea that you could have money that’s sitting around just waiting for you to claim. There are, in fact, nearly $33 billion in unclaimed assets being held by states and …