State Treasurer Curt Meier wants to reunite rightful owners with bonds.
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By Curt Meier
Wyoming State Treasurer
During my time as Treasurer, I have seen thousands of individuals across the State of Wyoming locate money being held by our Unclaimed Property Division. Some of these checks have been in the six-figure range, and the rightful owner may not have ever been paid if not for the Unified Unclaimed Property laws in our great state.
I have seen first-hand how effective this program can be, yet our federal government doesn’t want to turn over nearly $26 billion in savings bonds (an estimated $45 million belonging to Wyomingites) that have reached maturity and no longer pay interest. Unless the owner or rightful heir of the owner of these financial instruments have the physical bond in their possession, these funds may never be returned.
That’s why I support Senate Bill 2417, “The Unclaimed Savings Bond Act of 2019,” which was introduced by Sen. John Kennedy (R-Louisiana) and co-sponsored by Sens. Jerry Moran (RKansas) and Bill Cassidy (R-Louisiana).
* All 50 states along with the District of Columbia and Puerto Rico already have successful unclaimed property programs
* Many citizens are already familiar with the process of filing unclaimed property claims in their state, as well as other states where they resided in the past
* If given access to the federal records, these bondholders’ names and last known address would become part of each state’s searchable database
* The proceeds from these bonds rightfully belong to individuals across the nation, and we should make it as easy as possible for the rightful owner to locate their money
In Wyoming, we were able to reunite Wyoming residents or former residents with more than $6.85 million in the fiscal year that ended June 30. Even if just a small percentage of these matured savings bonds have a last known address in the Cowboy State, that number would swell in the years to come.
The State of Wyoming still holds more than $85 million in unclaimed property. If you haven’t searched to see if you or a loved one are entitled to any of these funds being held in Wyoming, I strongly encourage you to access our database and search for yourself at www.mycash.wyo.gov.
I have asked Wyoming’s elected officials in Washington to support this bill, and I encourage you to share your thoughts with them as well.