Word: state
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...probably assume that it's a windfall for the store that collected the cash and never had to deliver anything. But that's not supposed to be the case. After a waiting period--usually three to five years--the retailer is supposed to give the unspent money to the state, which is supposed to find the owner and give back the cash...
...much unclaimed property is out there? It's a huge number. States currently hold about $16 billion. Estimates of federal holdings--lost IRS refunds, undeliverable Social Security checks--run as high as $25 billion. Corporations that fail to remit assets to the states may hold an additional $100 billion. Funds lying dormant in state, federal and private retirement accounts and in group-life-insurance policies could total a staggering $1 trillion. Chew on that if, in your personal spending, you think little expenses...
...trying? Not nearly hard enough, if you ask me. After all, creditors don't seem to have this tracking problem. You could join the witness-protection program and they'd find you. One reason corporations resist surrendering assets is that they feel as entitled as any entity, especially the states. Sure, the states make an effort to locate you by advertising and possibly setting up a booth at the state fair. But most forgotten assets remain forgotten. The state spends the loot and pledges to make good if the owner shows...
That's why there may be a painless payoff in doing a little investigating on your own. (Lawyers and other pros want up to 50% of what they recover.) First, check with states where you have lived or have relatives. A new website, www.missingmoney.com is building a national database of all lost assets held by states. In the meantime, it links to individual state websites. Also search www.nupd.com You can contact your state's unclaimed-property division, often under the treasurer...
...just the Feds who are on Microsoft's case. Nineteen state attorneys general have joined Justice's suit, so the software giant's lobbying strategies are expanding. Microsoft's tactics range from hiring close pals of several A.G.s to sending a key official to speak to a small town's Chamber of Commerce. State officials tell TIME that the company is also helping fund a new Republican attorneys-general group in Washington...