Illinois returns nearly $276 million in missing money for 2023

Posted on January 5, 2024
Claims can range from overlooked safes, unpaid insurance benefits, and forgotten bank accounts. (WJBC File Photo)

By WMBD-TV

SPRINGFIELD – Illinois State Treasurer Michael Frerichs’ office announced that hundreds of millions of dollars of lost money was returned to rightful owners in 2023.

I-CASH is one of Illinois’ oldest consumer protection initiatives and processed over 314,000 claims in 2023. Claims can range from overlooked safes, unpaid insurance benefits, and forgotten bank accounts.

Nearly $276 million was returned in 2023 with $12 million in December.

“This money does more good for our state and our citizens in their hands than in a vault in Springfield,” Frerichs said. “We have made it easier to file a claim for many cases and streamlined the system with the help of state lawmakers.”

When Frerichs took office, the State Treasurer’s Office added electronic claims, removed bureaucracy around small money claims and enabled payments to be made without requiring a claim.

Anyone who thinks they may have unclaimed assets can check here.

Illinois still holds more than $5 billion in unclaimed property and assets.

WMBD-TV can be reached at [email protected].

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