Record-Setting Returns from State Treasurer's Office
/The State Treasurer's Office returned a record-setting $83.5 million to rightful owners of unclaimed assets during the 2012 fiscal year, shattering last year's record high by more than $30 million.
This historic payout was due in large part to a claim for $32.8 million -- the largest single claim for unclaimed property in Connecticut's history, State Treasurer Denise L. Nappier reported. The $32.8 million claim was for proceeds from the sale of 1,259,925 shares of stock received by the Treasury in the name of one p
erson. The owner, who has asked to remain anonymous, was listed on the Treasury's Unclaimed Property website, www.CTBigList.com, and the owner's broker of record contacted the Treasury to make a claim.
The Treasurer’s Office reported that from lists published in the state’s general circulation newspapers in October 2009 and November 2011, in accordance with state law, two consecutive record-breaking years in the return of assets to rightful owners resulted. As part of response, there were:
- Over 1.1 million searches on the Treasury website, www.CTBigList.com
- 147,914 claims filed
- 86,196 phone calls to the toll free information number, 1 800 833 7318
The Treasury also noted that during FY 2012 alone, the unclaimed property division collected $96 million in unclaimed property for deposit into the state’s general fund – funds not yet returned to rightful owners who have not come forward - which exceeded budgeted projections by more than $11 million.
Since Nappier took office in 1999, the Treasury's Unclaimed Property Division returned in excess of $362 million to nearly 210,000 individuals, businesses and organizations.
