By WMBD-TV

PEORIA – Nearly $17.2 million in missing money was returned by the Illinois State Treasurer’s office in the month of January, state treasurer Michael Frerichs announced Tuesday.

The total includes more than $15.7 million in cash and interest and more than $1.4 million in stock value.

The missing money comes in the form of unclaimed property, meaning items such as rebate checks, uncashed vendor checks, and unpaid life insurance claims. When those contents cannot be returned to the rightful owners, the money ends up at the state treasurer’s office by law.

Over 25,000 claims were paid during the month of January.

Frerichs said that it brings him pride to reunite people and businesses with their money.

“It’s nice to put money back in people’s hands, and by returning that money into the economy, it does a lot more good for our state than it does sitting in a bank vault in Springfield”, he said.

Frerichs said to check the I-Cash website to see if there’s money waiting for you. 1 in 4 Illinois residents find unclaimed property and the average claim is $1,000. Illinois holds more than $5 billion in unclaimed property.

Frerichs also said it might be a good idea to check on the unclaimed property of deceased relatives.

“People put money in accounts or safe deposit boxes and they don’t tell their children about it. When they pass, the money isn’t claimed and it’s eventually turned over to our office. We’d like to give it back to its rightful owners or rightful heirs”, he said.

Last year, the treasurer’s office returned nearly $276 million in missing money through over 300,000 claims.

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