$58 Billion in Forgotten Cash! Is Some Of It Yours?
State, federal agencies, and others hold funds from forgotten pension benefits and bank accounts.
Everyone in the country could receive $187—that is if the government was that generous to spread the wealth of others. There is currently billions of dollars worth of unclaimed cash and benefits floating around, tied up in abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits. Some people are owed load of serious cash.
Last year, a Connecticut resident, who has requested to remain anonymous, claimed a whopping $32.8 million—proceeds from the sale of nearly 1.3 million shares of stock. More than $300 million in pension benefits is currently owed to around 38,000 people, but the majority of forgotten funds are held by the states—roughly 41.7 billion.
Various state laws require financial institutions and companies to turn over any funds considered “abandoned.” The state then tries to find the owner through websites, newspaper ads and booths at events. But the vast majority of unclaimed funds remain in state hands, where cash can be used to fund government projects and operations. (CNN)