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State Unclaimed Property and College Savings programs post gains in 2013
Online Staff Report
CHICAGO — Illinois State Treasurer Dan Rutherford’s (R) Unclaimed Property Division returned more than $139 million in assets and processed more than 70,000 claims in calendar year 2013. In addition, his College Savings Division has reached more than $6 billion in total assets, with a record of more than 350,000 accounts.
“I have been committed to reuniting taxpayers with their unclaimed property since becoming treasurer,” said Rutherford. “We have done just that, and as a result, we have seen the value of assets returned grow $10 million since 2012.
“Furthermore, I have been focused on helping Illinoisans save for college. As costs escalate, it’s important to begin saving as soon as possible. From what my office has seen with $6 billion in assets in the Bright Start Direct and Bright Directions programs, that message has not been lost.”
Since the end of 2010, assets under management in the College Savings Division have increased by 68 percent, and the number of accounts has increased by 31 percent. In 2012, the Unclaimed Property Division returned more than $129 million in assets and processed more than 53,000 claims.
Posted Jan. 15, 2014