September 17, 2014

State Treasurer uncovers unclaimed property; hopes to return items to owners (AUDIO / VIDEO)

Missouri’s State Treasurer has cracked open some interesting and unusual items found in the state’s largest lost and found efforts.

State Treasurer Clint Zweifel opened safe deposit boxes containing artifacts found in Unclaimed Property. Items found include military medals, collectibles, coins, and family heirlooms such as photographs and jewelry. Some items even date back to the Civil War. Currently, Zweifel holds nearly $700 million in unclaimed property. “The value of that property is kept in perpetuity for that account owner, so what we hold in unclaimed property is really a promise to Missourians that we’re going to hold that in perpetuity,” he said.

Zweifel says the goal is to return the unclaimed items to its owners or heirs. If not, the state will auction the items off, but not all of them. “We never auction off the military medals, so that was a change we made when I took office because of our partnerships, because of the work that we’re doing with veterans organizations and museums; we’re able to return those medals back to those rightful owners or heirs,” he said.

Zweifel says since taking office, he’s returned about $125 million of unclaimed property back to Missourians. He says unclaimed property comes in all shapes and sizes; such as an old check that wasn’t cashed, a checking account or savings account, an insurance policy that wasn’t cashed. Zweifel says the average claim is about $300 and about 1 in 10 Missourians has unclaimed property.

Missourians can search for their unclaimed property 24 hours a day, 7 days a week at www.showmemoney.com.

AUDIO: Mary Farucci reports. (1:02)

Zweifel says college savings plan receives overwhelming response (AUDIO)

Missouri’s 529 College Savings Plan (MOST) is getting positive feedback for it’s Matching Grant Program, which is helping Missouri families save money for their children’s future education funds.

State Treasurer Clint Zweifel says Missouri’s 529 College Savings Plan is low cost and tax free.

The program, which is intended to help Missourians save money for college, technical schools, and vocational institutions is receiving an overwhelming response from people who have applied. So far, 2,100 Missourians have applied to the program, and 350 MOST accounts have received $131,000 in Matching Grant Program funds.

Zweifel says the program is helping Missouri residents save for their children’s futures. “It’s low cost, it’s tax free,” he says. “It’s a simple, easy way for Missourians to set aside small amounts over a long period of time and really save money for their children’s college education.”

He says any Missouri resident can apply for the savings program, and it’s private money that is being used to obtain an account. “And we’re able to provide a matching grant to some of our account owners,” he says. “What that means is some of those families will be able to save even more money for college.”

For more information, visit the program’s website at www.most529grant.org.

 

AUDIO: Mary Farucci reports. (1:01)