Illinois announces unclaimed money payout

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SPRINGFIELD, Ill. (WAND) – Illinois leaders say millions in unclaimed dollars are now in the right hands.

Illinois Treasurer Michael Frerichs says the government has paid out $159 million in 2017. The state answered over 58,000 claims with an average payout of over $2,700.

The state says it holds unclaimed money forever until it’s claimed. Possible money sources include forgotten life insurance policies, abandoned bank accounts, and unused rebate cards, among other options. People can see if they are on the list by clicking here.

The treasurer’s office does not charge people to search its database or return unclaimed money.

"I meet many people who are surprised to see their names on our unclaimed property list," Frerichs said. "Checking the list is easy and the money will be put to better use in the hands of its owners rather than the state's vault in Springfield."

The government says these payouts have no connection to the state budget, because these dollars are held separately from state funds. 

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