SOURCE: Pennsylvania Treasury

Pennsylvania Treasury

April 13, 2016 17:22 ET

PA Treasury Working to Return Millions in Unclaimed Property to Residents, Businesses and Organizations in Mercer County

Some Unclaimed Property Owners Were Advertised Over the Past Few Weeks in County Newspapers

HARRISBURG, PA--(Marketwired - April 13, 2016) - Residents, businesses and organizations in Mercer County may have recently seen their names listed among those owed some of the $2.5 billion in unclaimed property available statewide, State Treasurer Timothy A. Reese said today. Names of some of those owed lost or forgotten money or items reported to Treasury within the past year were published in newspapers in Mercer County within the past few weeks. The advertisements appeared in local newspapers.

Annually, Treasury receives millions of dollars in unclaimed property -- items such as abandoned bank accounts, forgotten stocks, uncashed checks and contents of safety deposit boxes. The property remains available to be claimed by the owners or their heirs in perpetuity and Treasury serves as the custodian until it can find and verify its rightful legal owner.

"These funds belong to the families and employers of Mercer County. It's Treasury's job to return them to the rightful owners and it's a job we take seriously," Reese said. 

The Pennsylvania Treasury reunited thousands of Pennsylvanians with a record $136.3 million in property and money in 2015 bringing the total value of money and items returned since July 1, 2005 to more than $1.1 billion. Additionally, Treasury collected a record $672.7 million in dormant and forgotten property last year, a 126 percent increase over 2014.

"In 2015, the Treasury collected and returned more unclaimed property than any other year," Treasurer Reese said. "About one in ten Pennsylvanians has unclaimed property and our goal is to reconnect as many people as possible with property and funds that are rightfully theirs. Our annual newspaper ad campaign is an important way to reach out."

Treasurer Reese encouraged citizens to also search for free the department's unclaimed property database at www.patreasury.gov. "Our claims process and call center staff make claiming property as easy and seamless as possible. While there is no time limit to claim unclaimed property, all Pennsylvanians should regularly check to see if Treasury has property that belongs to them," Reese said. 

To learn more about Pennsylvania's Unclaimed Property Program or to search for money or other items held by Treasury, visit www.patreasury.gov or call 800-222-2046.

The Pennsylvania Treasury is an independent department of state government led by the state treasurer, who is elected every four years. The department's primary duty is to safeguard and manage the state's public funds. It invests state money to generate income on behalf of the citizens of Pennsylvania, reviews and processes payments for state government agencies, and serves as custodian of more than $100 billion in state funds. Key Treasury programs include Unclaimed Property, PA 529 College Savings Program and the Board of Finance and Revenue. To learn more visit patreasury.gov .

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