State Treasurer’s Office Breaks Record Number of Unclaimed Property Claims Paid in One Month

by Free Speech on April 5, 2010

Lodi, WI~

Lodi Valley News serving Lodi, WI & the Lake Wisconsin area with local information since Earth Day 2008.

Lodi, WI
4/5/10

New “Fast Tracking” of some claims means more money going back to Wisconsinites

State Treasurer Dawn Marie Sass announced today that the Unclaimed Property Department in the Office of the State Treasurer broke a monthly record in March 2010 with nearly 5,000 claims paid out to Wisconsin residents. A test program that fast tracked smaller claims coming into the office helped claims specialists approve and pay out Wisconsinites who discovered the State was holding onto their money.

“This is a credit to my staff,” Treasurer Sass said. “We implemented the fast track program to see how quickly we could process certain claims. We are seeing more claims come into the office every month and we want to get those people their money as quickly as possible.”

The Unclaimed Property Department paid out more than $3 million on 4,848 claims in March 2010.  The second highest pay out month was October 2009 with 4,760 claims and prior to that, the highest number paid out was 3,194 claims in October 2007.

The fast tracking program allows specialists to quickly approve claims of $200 or less.

“Last year, we started seeing claims for very small cash amounts…$5.00, $10.00,” Treasurer Sass said. “It just made sense to push those through much more quickly.”

Since Treasurer Sass took office in 2007, claim requests and claim payouts have set new annual records. Last year, the Office broke a record with 26,238 claims paid out. In 3 months this year, the Office has already paid out 9,646 claims totaling nearly $8 million.

For more information on Unclaimed Property or to see if your name is in the database, visit www.statetreasury.wisconsin.gov.

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