Who doesn't need a little extra cash in their pockets? If you're strapped for cash and looking for a quick and easy way to line your wallet or purse with a few greenbacks, the State of Illinois knows where a cool $1.5 billion sits, untouched.
The State of Illinois currently holds more than $1 billion in unclaimed cash—and this year, the goal is to dole out $120 million of it (a 20-percent increase from last year). The State's newly renamed I-Cash program—formerly called Cash Dash—is designed to give residents the ability to reclaim money or assets they may have lost track of. Illinois residents can search a database to see if any of it belongs to them. And according to State Treasurer Dan Rutherford, $34 million belongs in the hands of Will County residents.
Rutherford stopped by the Frankfort Township building Aug. 8 to explain the program.
“Here in Will County ... there are 185,000 entries, with Will County addresses,” Rutherford said. “The total amount of money, assets, I'm holding with Will County addresses is $34 million.”
He continued that the average finding is between $10-$100, but that there have been instances where residents have claimed more than $100,000.
“If you haven't checked your name, family member's names, maiden names, I encourage you to do so,” Rutherford said.
Rutherford added that no tax money is used to fund the program, instead it is funded by the interest generated by the unclaimed money. He added that thanks to an updated, search-able internet data base it's now easier than ever for residents to claim their assets.
To check if you, or somebody you know, has unclaimed assets, visit the I-Cash website at www.icash.illinois.gov.