State Treasurer David McRae is celebrating a major milestone in his pursuit to return unclaimed money to Mississippians.

“We have returned $150 million,” McRae said. “The program started in 1984, and we have returned more than half of the money overall.”

For those unfamiliar with the concept, unclaimed money consists of funds or other assets that have been abandoned by their rightful owner for a specified period of time. In Mississippi, if the person entitled to the money does not claim it within five years, a financial institution will turn the sum over to the state treasury, which is tasked with locating the owner.

In its more than 40 years of existence, the state treasury’s unclaimed money department has returned $291 million to rightful owners. However, as McRae noted, more than hal

See Full Page