State Treasurer Breaks Record for Returning Unclaimed Property

Recently, Missouri State Treasurer Vivek Malek reached $51,817,543.80 in unclaimed property returned for fiscal year 2023. This breaks the previous fiscal year payout record of $50.2M. The number of accounts returned record was also broken earlier this fiscal year. The record set in fiscal year 2022 was 233,769, and as of last week, Treasurer Malek had returned 255,627 accounts for fiscal year 2023.

In response, State Treasurer Malek had this to say: “I love giving people their money back, but we still have more to return. I am asking, no begging, please go to ShowMeMoney.com to see if you have some money that should be coming your way. It’s fast, free, and secure. It could be $50 dollars, it could be $500 dollars, and it only takes a moment.”

The State Treasurer’s office currently holds $1.39 billion worth of unclaimed property.

To find out if you have unclaimed property, visit ShowMeMoney.com.

September is College Savings Month

Missouri State Treasurer Scott Fitzpatrick Thursday recognized September as College Savings Month. Sponsored by the College Savings Plans Network (CSPN), College Savings Month seeks to promote the importance of saving for higher education using a 529 account.

“Data demonstrates that having an education savings account makes it more likely a child will attend a higher education institution. Data also shows that education influences socioeconomic mobility,” Treasurer Fitzpatrick said. “As Treasurer, I have worked to lower accounts fees and to make MOST, Missouri’s 529 Education Plan as versatile as possible. Regardless of what higher education looks like for you—college, trade school, an apprenticeship—being financially prepared is necessary to avoid burdensome debt down the road.”

Administered by the Treasurer’s Office, MOST, Missouri’s 529 Education Plan, is a tax-advantaged savings plan for education expenses. Money in MOST accounts can be used to pay for K-12 tuition and apprenticeships, trade, college, and graduate school tuition and expenses, and up to $10,000 of student loan repayment. Contributions are eligible for state tax deductions and assets in MOST 529 accounts grow tax-free.

Missourians can visit Treasurer Fitzpatrick’s Financial Literacy Portal for information about saving for higher education and paying for higher education, as well as games and activities focused on financial literacy for children and high school students. Information for adults and recent college graduates about understanding credit, budgeting, and retirement is also available on the portal. The Financial Literacy Portal can be accessed at https://treasurer.mo.gov/financial-literacy/.

According to CSPN, Americans have more than $450 billion saved in 529 accounts.

More information about MOST 529 can be found missourimost.org.

Treasurer Recognizes Missouri Able to Save Month

Missouri State Treasurer Scott Fitzpatrick Monday recognized August as #ABLEtoSave Month. Sponsored by the ABLE National Resource Center, #ABLEtoSave Month strives to raise awareness about ABLE programs, including Missouri’s MO ABLE, and their valuable benefits for individuals with disabilities.

“MO ABLE can have a life-changing impact on the lives of individuals with disabilities and their families,” Treasurer Fitzpatrick said. “Empowering individuals with disabilities to save their own money without the fear of losing necessary federal benefits is a huge step forward. Spreading the word about MO ABLE has been a priority for me since I took office in 2019. In that time, the program has more than tripled in size and remains one of the largest ABLE programs in the country. There are still many people who can benefit from this program and I will continue working to spread the word.”

MO ABLE, which celebrated its fifth anniversary in April, allows individuals with disabilities and their families to save up to $16,000 per year, tax-free, without losing federal benefits like Medicaid and SSI. This means participants can build financial wellness and be empowered to save for the future while retaining eligibility for their means-tested benefits.

The Treasurer continues to advocate for inclusion and opportunity in the workforce for individuals with disabilities. In 2019, he began encouraging employers to add payroll deductions for MO ABLE accounts, allowing individuals with disabilities and their families equal opportunities for saving. Missouri employers who have partnered with the Office to implement payroll deductions for MO ABLE accounts include the University of Missouri System, SoutheastHEALTH, CoxHealth, Truman State University, University of Central Missouri, Missouri State University, Schnucks Markets, Central Bank, the City of Jefferson City, and the City of Kansas City.

Treasurer Fitzpatrick is also calling on congressional legislators to expand access to the ABLE program by passing the ABLE Age Adjustment Act. Missouri has the third largest delegation support in the House of Representatives, with Rep. Blaine Luetkemeyer, Rep. Ann Wager, Rep. Jason Smith, Rep. Billy Long, Rep. Vicky Hartzler, and Rep. Sam Graves serving as co-sponsors of the legislation.

Since Treasurer Fitzpatrick took office, MO ABLE has tripled in size. The program has 3,200 accounts and over $23 million assets under management, making it one of the largest ABLE programs in the country.

You can learn more about MO ABLE at www.moable.com.

Missouri Breaks Two Unclaimed Property Records

Missouri State Treasurer Scott Fitzpatrick Tuesday announced that his administration has broken two more Unclaimed Property records, continuing a record-breaking streak for the fourth straight year.

For the fiscal year ending June 30, the Treasurer’s Office returned $50,234,802.92, surpassing the prior record set last year by $3,054,488.06. This is the first time the Treasurer’s Office has returned more than $50 million in one fiscal year. The Unclaimed Property Division also returned Unclaimed Property to more Missourians than any prior fiscal year, closing 233,769 accounts.

“I am incredibly proud of the work of the Unclaimed Property Division,” Treasurer Fitzpatrick said. “Returning Unclaimed Property to rightful owners has been a priority of mine since I took office in 2019. I have worked to improve the efficiency of our outreach to account owners through inter-agency partnerships and modernized marketing efforts. These record-breaking accomplishments are a reflection of this hard work and the dedicated staff in my office. As always, I encourage Missourians to search the Unclaimed Property list. It is free to claim your money and many claims can be submitted online.”

Treasurer Fitzpatrick is committed to finding innovative ways to streamline returning Unclaimed Property to Missourians. In 2020, Treasurer Fitzpatrick partnered with the Department of Labor and Industrial Relations to return Unclaimed Property to those who have applied for unemployment benefits. This partnership has returned over $8.8 million to nearly 30,000 Missourians. In 2019, he announced a new partnership with the Department of Social Services that created an automated system to match past-due child support cases with the Unclaimed Property database. This partnership has returned nearly $4.5 million to Missouri families.

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets, including cash and the contents of safe deposit boxes, to the Treasurer’s Office. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds, and contents of safe deposit boxes that have been abandoned. It can also include uncollected insurance policy proceeds, government refunds, utility deposits, and wages from past jobs.

The Treasurer’s Office also holds more than 250 military medals and insignia that have been found in safe deposit boxes turned over to the office as Unclaimed Property. Photos and information about the last known owner can be found on ShowMeMoney.com/medals.

Treasurer Fitzpatrick currently manages over $1 billion in unclaimed assets in more than five million owner accounts. One in ten Missourians has Unclaimed Property, and the average return is nearly $300.

Since taking office in 2019, Treasurer Fitzpatrick has broken many unclaimed property records, including returning the first $1 million of his administration in less than 10 days, returning Unclaimed Property to more Missourians in one year than any prior treasurer, returning $100 million to Missourians faster than any prior treasurer, and returning more Unclaimed Property in one fiscal year than any prior year.

Missourians can search and claim unclaimed property 24/7 at ShowMeMoney.com.

Missouri Offering $10,000 Cash Prizes for Vaccinated People

Starting this month, the Missouri Department of Health & Senior Services and the Missouri Lottery are offering $10,000 drawings for people who have gotten vaccinated. Missouri will raffle off 80 cash prizes to people who received at least one dose of the COVID-19 vaccine on or after July 21st, 80 more prizes to people who received their shot before July 21st, and 20 education savings accounts for people aged 12-17 who got their shot. To enter, go to covidvaccine.mo.gov. The deadline is August 11th, and winners will be announced on August 25th. There will be five such rounds; winners will be announced on September 8th, September 22nd, October 6th, and October 20th.

National Unclaimed Property Day

In recognition of National Unclaimed Property Day, Missouri State Treasurer Scott Fitzpatrick Monday encouraged Missourians to check for Unclaimed Property.

“People say to me, ‘Oh, I don’t have any Unclaimed Property’ but the reason it became unclaimed is the fact that you didn’t know you had it. That’s why I always tell people to check anyway,” Treasurer Fitzpatrick said. “We hold over $1 billion that we want to put in the pockets of Missourians--so search today!”

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets, including cash and the contents of safe deposit boxes, to the Treasurer’s Office. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds, and contents of safe deposit boxes that have been abandoned. It can also include uncollected insurance policy proceeds, government refunds, utility deposits, and wages from past jobs.

Treasurer Fitzpatrick currently manages over $1 billion in unclaimed assets in more than five million owner accounts. One in ten Missourians have Unclaimed Property, and the average return is nearly $300. Unclaimed Property can be searched for and claimed on ShowMeMoney.com.

The Treasurer’s Office also holds more than 100 military medals and insignia. 

To search these, visit https://treasurer.mo.gov/Military/AllMedals.aspx.

Since taking office in 2019, Treasurer Fitzpatrick has broken three unclaimed property records, returning the first $1 million of his administration in less than 10 days, returning over $45 million in one fiscal year, and returning unclaimed property to more Missourians in one year than any prior treasurer.

Launched by the National Association of Unclaimed Property Administrators (NAUPA), Monday marked the first National Unclaimed Property Day. 

New Tax Scam Pretends to be from Missouri Treasurer's Office

State Treasurer Eric Schmitt has issued a tax scam alert, warning Missouri residents about a new telephone scam. The State Treasurer’s Office recently received a call from a concerned citizen after she was contacted by would-be scammers.  She said she received a phone call from someone claiming to be from the Department of Revenue telling her she owed over $1,000.  They attempted to get her to pay over the phone with a credit card. After she declined, they told her to send a certified check to the Department of Treasury at a post office box located in St. Louis.

“As Treasurer, it is my job to protect Missouri taxpayers,” said Schmitt. “I want all Missourians to know my office is not responsible for collecting taxes and will never call demanding payment. Anyone who receives such a call should report it to the proper authorities immediately.”

The scammers use a fake caller-ID featuring a phone number that belongs to the Missouri State Treasurer’s Office. Citizens are urged not to provide any personal information to these callers. The Department of Revenue will always contact citizens via mail regarding any tax-related issue.

Anyone who receives a call from someone claiming to be from the Missouri State Treasurer’s Office asking for a tax payment should hang up and contact the Missouri Attorney General’s office at 866-289-9633 and the United States Treasury Inspector General at 800-366-4484. Victims may also report fraudulent phone calls to any FBI field office.

Law enforcement officials have been informed of the scam earlier.

Missouri Treasurer Seeks Information on Four Purple Heart Medal Owners

On Purple Heart Day, Missouri State Treasurer Eric Schmitt is seeking the public’s assistance in identifying the owners of four Purple Heart medals currently in the possession of his office’s Unclaimed Property Division.

“The Purple Heart is one of the most important and prestigious honors a member of our armed forces can earn,” Schmitt said. “There is a good chance that someone in Missouri has information about these medals that could help us identify and find their rightful owners, which is why we’re asking everyone to take a look.”

The following information is available on the four Purple Heart Medals currently being held by the State Treasurer’s Office:

Purple Heart Medal #1
Safe Deposit Box Owner Name: Charles W. Armstrong
Last Known Address: St. Joseph, Missouri
Medal Inscription: “Charles W. Armstrong”

Purple Heart Medal #2
Safe Deposit Box Owner Name: Margaret E. Varney
Last Known Address: PO BOX 681575, Riverside, Missouri

Purple Heart Medal #3
Medal Inscription: “Lawrence Shettler”

Purple Heart Medal #4
Safe Deposit Box Owner Name: Helen Reabold

Military medals and insignia held by the State Treasurer’s Office come from safe deposit boxes that have been turned over after five years of inactivity or no contact from the owner. Treasurer Schmitt currently protects around 200 military medals and insignia, which can be searched and viewed online at treasurer.mo.gov/military.

Zweifel Urges Missourians to Check if They Have Unclaimed US Savings Bonds

Missouri State Treasurer Clint Zweifel today announced Missourians can search on his website to see if he is holding a U.S. Savings Bond that bears their name. These bonds came to the Treasurer as Unclaimed Property in abandoned safe deposit boxes. Treasurer Zweifel currently holds more than 7,800 savings bonds for thousands of individuals and wants to reconnect them with their bonds. If you believe the Treasurer may hold an unclaimed U.S. Savings Bond for you, you can search treasurer.mo.gov/UnclaimedProperty/SavingsBondsSearch.aspx and begin the process of claiming your bond.

“I want to let Missourians know that I am taking all steps necessary to collect and return these U.S. Savings Bonds or their proceeds to individuals whose names appear on the bonds,” Treasurer Zweifel said. “If you believe you are one of these individuals, I encourage you to search treasurer.mo.gov/UnclaimedProperty/SavingsBondsSearch.aspx, and remember you can always search for any Unclaimed Property at ShowMeMoney.com.”

As required by Missouri law, Treasurer Zweifel has begun proceedings in the Circuit Court of Cole County to gain title to certain matured U.S. Savings Bonds, some of which he currently holds as Unclaimed Property. These proceedings also seek title to U.S. Savings Bonds that have been lost, stolen or destroyed and registered to people with last known addresses in Missouri. These proceedings are a necessary first step for Treasurer Zweifel to get Missourians their bond proceeds from the U.S. Treasury. If you currently own a matured U.S. Saving Bond held as Unclaimed Property, you may soon receive a letter from Treasurer Zweifel notifying you of your bond and explaining more about the Treasurer’s proceedings.

“The U.S. Treasury holds billions of dollars in proceeds from matured and payable U.S. Savings Bonds, but has failed to make sufficient efforts to notify bondholders that they are owed funds,” Treasurer Zweifel said. “States are uniquely positioned to return these proceeds, utilizing their successful efforts in returning Unclaimed Property to their respective citizens.”

If you have questions about unclaimed U.S. Savings Bonds, you can contact Treasurer Zweifel’s office at ucp@treasurer.mo.gov. The website, treasurer.mo.gov/UnclaimedProperty/SavingsBondsSearch.aspx, also includes helpful FAQs that provide answers about U.S. Savings Bonds in general as well as the proceedings currently underway.

Missouri to Offer Refund Debit Cards for Taxpayers

State Treasurer Clint Zweifel (ZWY-ful) announced today citizens have a new option to choose from when getting a tax refund from the State of Missouri. Taxpayers are now able to get a refund in the form of a debit card whether their return is filed on paper or electronically. The new refund option is for taxpayers who file individual income tax returns or Property Tax Credit (PTC) claims.

This is the first year the Department of Revenue has offered the refund debit card. To receive the card, taxpayers will need to check the “debit card” box located on the refund line of their 2012 income tax return or PTC claim. After the card is received in the mail, the recipient must activate it by phone or online, and a Personal Information Number or PIN must be created.

Benefits of the debit card include no check cashing fees, no bank account is required and access to the funds is available 24 hours a day. Taxpayers can use the refund card for free for purchases and to get cash back with a purchase anywhere a Visa Card is accepted.  UMB, MoneyPass and Chase ATMs may all be used to access cash without fees. One free withdrawal is allowed at other ATMs, but an ATM surcharge may apply. The card is issued by JP Morgan Chase of New York.

Other refund options for taxpayers include a paper check mailed to a taxpayer and electronic direct deposit into a bank account of a taxpayer receiving a refund.

More information about the refund debit card can be found at www.dor.mo.gov.

State Treasurer Clint Zweifel announces $1.1 million in low-interest loans for King City Lumber Company

State Treasurer Clint Zweifel (ZWY-ful) announced today he has awarded $1.1 million in low-interest Missouri Linked Deposit Program loans to King City Lumber Company in King City. The company operates as a construction firm and owns and operates the Do It Best Center, a local hardware store. With the low-interest loans, the company was able to refinance debt it took out to remodel its hardware store and to increase its inventory. The company has 11 full-time employees.

“The Missouri Linked Deposit Program has helped small businesses throughout Missouri refinance debt, allowing them to more easily remodel and expand, just like King City Lumber Company has done,” Treasurer Zweifel said. “Small businesses and farmers need the opportunity to grow and make updates. The Missouri Linked Deposit Program provides the low-interest capital entrepreneurs and farmers need, and local lenders you work with every day can help you begin the very easy application process. I have approved more than $1 billion in loans for Missourians, helping our economy grow when we need it more than ever.”

King City Lumber Company’s loans will save it an estimated $84,000 in interest over the next five years should it choose to take out loans for that period. King City Lumber Company has been family owned since it opened in 1972. The construction side of the company works on commercial, agricultural and residential buildings. Commerce Bank partnered to make the loan.

Since January 2009, northwest Missouri has received more than $66 million in loans impacting more than 1,100 jobs and farmers. Statewide, more than $1 billion in loans have been approved impacting more than 18,300 jobs and farmers.

About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/LinkedDeposit.

$9 Million in Unclaimed Property in NW Missouri

State Treasurer Clint Zweifel (ZWY-ful) announced, as of this morning, a record $36.5 million worth of Unclaimed Property has been returned to a record 123,000 Missourians in fiscal year 2012 – with three weeks remaining in the fiscal year. With the announcement, Treasurer Zweifel has now returned $119 million since 2009, which is 35 percent of all Unclaimed Property ever returned.

This is the fourth year in a row Treasurer Zweifel has broken the accounts returned record, and third year he has broken the monetary record.

“It’s simple – my administration is getting more money out the door faster than ever before, all while reducing costs,” Treasurer Zweifel said. “Each day we use innovative tools, streamlined practices and top-notch customer service to get Missourians their money. We still have three weeks to go, and I expect returns to grow – I know Missourians do too.”

Unclaimed Property started being returned in 1985, and became part of the State Treasurer’s office in 1993. The previous return records, set in fiscal year 2011, were $36 million in Unclaimed Property to 120,000 accounts.

Treasurer Zweifel has made it possible for Missourians to file their claims online, allowing more than 50 percent of all claims to be filed without a single piece of paper. He created an email notification system through which Missourians can register their information and an email is sent any time new Unclaimed Property matching their information is added. Treasurer Zweifel has placed Unclaimed Property Search Kiosks in Columbia, Mo., Joplin, Mo., and most recently O’Fallon, Mo., allowing Missourians to search for their property while conducting business at local driver’s license bureaus. He has also conducted several regional telethons, allowing thousands of Missourians to call in and check if they have Unclaimed Property even if they do not have a computer.

“I am looking for new ways to make it easier for Missourians to work with their government all the time, and Unclaimed Property is one of the best examples of the success strong customer service can provide,” Treasurer Zweifel said. “Thousands of Missourians visit www.ShowMeMoney.com each week, and each week I add new Unclaimed Property. My team will continue to do all it can to make it as easy as possible for Missourians to claim property that belongs to them.”

Treasurer Zweifel currently holds nearly $700 million in Unclaimed Property for 4.3 million account holders that may be searched for and claimed at www.ShowMeMoney.com.

Amount of Unclaimed Property still to be returned by region (counties):

Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $99 million in more than 755,000 accounts.

- 12 accounts with more than $100,000 each from Jackson County.

Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $24.5 million in more than 265,000 accounts.

- Four accounts with more than $100,000 each in mid-Missouri – two accounts in Boone County and one each in Camden and Cole counties.

Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $7.4 million in more than 71,000 accounts.

Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $9 million in more than 89,000 accounts.

- One account with more than $100,000 in Buchanan County.

Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard, Wayne): $14.3 million in more than 170,000 accounts.

- One account with more than $100,000 in Butler County.

Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $35 million in more than 383,000 accounts.

- One account with more than $100,000 in Jasper County.

St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $208 million in more than 1.3 million accounts.

- There are 19 accounts with $100,000 each in them - 15 of these accounts are from St. Louis County, 3 are from St. Louis City and one is from Franklin County.

About Treasurer Zweifel’s Unclaimed Property

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years.  Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $700 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

State Treasurer Clint Zweifel says Missouri's $4 billion investment portfolio is secure

State Treasurer Clint Zweifel (ZWY-ful) issued a statement today about the continued strong fiscal health of the state's $4 billion investment portfolio in light of recent market fluctuation.

"Missourians should be confident in the health of their tax dollars I manage because those dollars are invested with prudence, using fiscally sound financial principles," Treasurer Zweifel said. "I want Missourians to know our bills will continue to be paid, and the $4 billion investment portfolio continues to be monitored with the utmost care, as it has been since the day I took office. The principles guiding our investments have not changed because they have been sound from day one - I focus on safety through conservative investments and manage liquidity so that our bills are always paid on time. The state's investment portfolio has not suffered any losses, and I am confident we will not be impacted because of the broad diversity and institutional safety put in place."

The investment portfolio is made up of funds not currently used to meet the state's cash flow needs. The investment portfolio consists of the following as of July 31:
U.S. Treasury Debt - 8 percent
U.S. Agency Debt - 51 percent
Repurchase Agreements - 18 percent
Bank Time Deposits - 17 percent
Highly-rated Commercial Paper - 6 percent

Unclaimed Property Scam

State Treasurer Clint Zweifel (ZWY-ful) is warning Missourians of an email scam being sent nationwide that claims the recipient is owed $2.8 million in Unclaimed Property found in a metal trunk and goes on to request personal information.
The current scam email states a fake individual, Jeff Smith, director of the National Association of Unclaimed Property Administrators, is working with the FBI to return $2.8 million found with the recipient’s email address and name attached. It further requests private information, including the recipient’s full name, address, telephone number, age and occupation. If a person responds, he or she is then directed to call an attorney based in the United Kingdom to provide personal financial information – the respondent then is charged high fees for the call. An example of the fraudulent emails can be found here.
“This email is a scam intended to steal personal information,” Treasurer Zweifel said. “Moving forward, Missourians should be on the lookout for two practices that can indicate an Unclaimed Property scam – unsolicited emails asking for personal information and an offer to return lost property, but for a fee. My team does not send unsolicited emails asking for personal information. I never charge a fee, and will never direct someone to a third-party charging a fee. If someone emails you about Unclaimed Property asking for personal information or wants to charge you to return your property, call my office at (573) 751-0123 to verify legitimacy.”
Treasurer Zweifel is a member of National Association of Unclaimed Property Administrators, but the group never notifies individuals of Unclaimed Property – that duty is left to individual State Treasurers and administrators. The Missouri State Highway Patrol and the Multi State Information Sharing and Analysis Center have been informed of the scam.
“My team only sends out emails in response to constituent questions, while working with an individual who has already begun the claims process or to let individuals who have registered for email notifications know of recently added Unclaimed Property,” Treasurer Zweifel. “Please contact my team any time you question the validity of an Unclaimed Property email.”
Individuals are also being encouraged to report suspicious Unclaimed Property emails to the Internet Crime Complaint Center at www.ic3.gov/complaint/default.aspx or the Federal Trade Commission at www.ftccomplaintassistant.gov.

Millions in Unclaimed Cash Available at the State Fair

State Treasurer Clint Zweifel (ZWY-ful) announced today that members of his Unclaimed Property team will be at the 2011 State Fair each day starting Thursday, Aug. 11, from 10 a.m. to 4 p.m. in the Mathewson Exhibition Center to help Missourians find and claim their property.

More than 400 account owners found $56,858 at the 2010 Missouri State Fair. One in 10 Missourians has Unclaimed Property, and there is $600 million available. Fairgoers will be able to search for property, file claims and ask questions.

“Thousands of Missourians will visit Sedalia for the State Fair, and it’s a perfect time to see if they, their family or their friends have some money waiting for them,” Treasurer Zweifel said. “The process is simple and easy – with 55 percent of claims now done without a piece of paper. Most fairgoers are going to find money or know someone who is owed money. The average claim is $300, so it is worth a visit.”

Anyone can search for Unclaimed Property anytime at www.ShowMeMoney.com. Missourians can also sign-up to receive email notifications when new Unclaimed Property matching their information is added. Since January 2009, Treasurer Zweifel has returned $85 million to more than 260,000 account owners.

About Treasurer Zweifel’s Unclaimed Property

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel does not handle real property such as land, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

State Treasurer Clint Zweifel says Missouri families will see college savings costs drop 44 percent on Monday, June 6

State Treasurer Clint Zweifel (ZWY-ful) today said Missouri families will see the largest expense reduction ever for MOST–Missouri’s 529 College Savings Plan starting Monday, June 6. The 44-percent price reduction will make the do-it-yourself direct-sold MOST 529 Plan the fifth lowest-cost plan in the nation according to Morningstar.

The upgrades are a result of a new five-year public-private partnership with Upromise Investments and Vanguard announced in February that is estimated to save investors $18.5 million. The partnership also includes a $500,000 financial assistance package.

“The cost reductions and the $500,000 financial assistance package are a reflection of the commitment to higher education that parents and students are already making,” Treasurer Zweifel said. “Saving early and saving often is important for families thinking about college. Lower expenses on the MOST 529 Plan means that Missourians keep more of their money invested in the future of their children. I am pleased that we have been able to work with our partners at Upromise Investments and Vanguard to make it more affordable than ever for Missourians to save for college.”

The direct-sold MOST 529 Plan will feature low-cost Vanguard investments, including three age-based options, eight index-based portfolios, two conservative portfolios and four actively-managed portfolios. Costs will range from 0.29 percent to 0.38 percent for age-based, index-based and conservative options, which previously cost 0.55 percent. Actively managed portfolios will range 0.53 percent to 0.60 percent, which previously ranged 0.87 percent to 1.58 percent. The total asset weighted cost of the direct-sold MOST 529 Plan is now 0.32 percent – fifth lowest in the nation.

Missourians preferring to save through a financial advisor now have expanded world-class investment options through DWS Investments, the United States retail division of the world’s eighth largest asset manager. The advisor-sold MOST 529 Plan will be distributed solely through DWS Investments Distributors, while continuing to provide access to other investments, including American Century, American Funds, BlackRock, Columbia, Franklin Templeton, Invesco, PIMCO and T. Rowe Price. Investors will continue to have access to the Scout International Terror-Free portfolio from UMB Bank. No account owner will see a fee increase and 27 percent will see fees decrease.

Between the direct-sold and advisor-sold MOST 529 Plans, there are 129,000 college savers with more than $1.7 billion going towards higher education.

“Participation in MOST 529 Plans is up 50 percent since I took office in 2009, meaning more Missourians than ever are saving for the higher education of the children in their lives,” Treasurer Zweifel said. “I am passionate about continuing to promote the MOST 529 Plans not only as State Treasurer, but as a father of two girls. With the growth of each MOST 529 Plan, scale has enabled us to realize cost savings that rewards Missouri’s families. This makes higher education more affordable for all Missourians.”

Details for the new five-year $500,000 financial assistance package are expected to be made public in September.

“Just like many Missourians and their families, I combined savings, scholarships and part-time jobs to be the first in my family to graduate from college,” Treasurer Zweifel said. “Missourians have steadfastly saved record amounts and we are rewarding that commitment.”

To open a MOST 529 direct-sold account, visit www.MissouriMost.org or call 1-888-414-MOST. An account can be started for $25.

To open a MOST 529 advisor-sold account, contact your financial advisor, call 1-800-617-5097 or visit www.Most529Advisor.com.

Farmers and small businesses in Blythedale, Maryville and Ridgeway awarded $600,000 in loans by State Treasurer Clint Zweifel

State Treasurer Clint Zweifel (ZWY-ful) today announced he awarded more than $600,000 in low-interest loans in northwest Missouri. Jerrod Ledgerwood received a $74,000 loan for his custom harvesting business in Blythedale, Gregory and Miraya Barmann were awarded a $310,000 loan for their Maryville farm and Beck’s Convenience Store in Ridgeway received a $220,000 loan.

“My goal with this loan program is to provide a tool so that small businesses and farmers can provide jobs for any Missourian looking for one,” Treasurer Zweifel said. “The Missouri Linked Deposit Program continues to grow, adding new lenders throughout the state. We are helping farmers like the Barmann’s, small businesses like Beck’s and entrepreneurs like Jerrod expand on new opportunities.”

The low-interest loan for Gregory and Miraya Barmann will save them an estimated $16,000 in interest costs over three years should they choose to take out loans for that length of time. The loan will be used to purchase 160 acres of farmland to raise cattle and plant row crops.

“Farming is part of our family tradition,” Gregory Barmann said. “The Missouri Linked Deposit Program is helping my wife and I ensure the tradition continues. I encourage other farmers looking for low-interest loans to consider this program.”

Nodaway Valley Bank partnered to make the loan.

“Our customers need low-cost capital as they seek to continue to grow their farms in our region,” said Clint Tobin, assistant vice president of Nodaway Valley Bank. “Treasurer Zweifel and the Missouri Linked Deposit Program provide our customers options they need during these difficult economic times. We look forward to helping this program continue to grow in northwest Missouri.”

The loan to Jerrod Ledgerwood will save his custom harvesting business an estimated $9,000 in interest costs over five years should loans be taken out for that length of time. Ledgerwood used the loan to purchase the business from its previous owner. The loan improves his cash flow.

Beck’s Convenience Store will save an estimated $15,000 in interest costs over three years should loans be taken out for that length of time. The store is using the loan to refinance debt and improve cash flow. Beck’s currently has one full-time employee. Citizens Bank of Blythedale partnered with Treasurer Zweifel to make loans to Beck’s Convenience Store and Ledgerwood.

The $38.4 million in loans issued to northwest Missouri borrowers has impacted 356 jobs and 309 farmers. Qualifying borrowers generally save 30 percent on the cost of the loan.

Nearly $626 million in loans have been approved statewide impacting nearly 8,300 jobs and 2,150 farmers since January 2009.

About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 115 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/LinkedDeposit.

$1 Million in Unclaimed Property Returned to 8 Owners

State Treasurer Clint Zweifel (ZWY-ful) announced today he returned more than $1 million in Unclaimed Property to just eight account owners. Five individuals and three businesses each have received more than $100,000 since mid-February. The recipients are not being identified for privacy reasons.

“All of us would like $100,000 or $1 million, and it is my job to get this money out the door fast and in to the hands of individuals and business owners. These are amounts that make a substantial difference,” Treasurer Zweifel said. “Bureaucracy and red tape can get in the way, but not with Unclaimed Property. Wait times have been cut in half, and I am breaking return records. All of this while cutting spending and never charging owners.”

More than $30 million has been returned so far in fiscal year 2011 to a record 105,000 account owners.

The property was returned to the following locations and was found in the following forms:

· A business in Clayton, Mo., received more than $150,000 made up of securities.

· An individual in Kansas City, Mo., received more than $125,000 made up of securities.

· An individual in Leasburg, Mo., received more than $110,000 from a checking account.

· A business in Potosi, Mo., received more than $120,000 made up of securities.

· An individual in Springfield, Mo., received more than $100,000 from a certificate of deposit.

· An individual in St. Ann, Mo., received more than $125,000 from a checking account.

· A United States business headquartered in New Jersey received more than $375,000 made up of securities, unredeemed gift certificates and accounts payable.

· An individual in Overland Park, Kan., received more than $180,000 made up of bond coupons, dividends and securities.

Treasurer Zweifel holds 41 accounts of Unclaimed Property worth more than $100,000 each. The geographic breakdown of those is: 18 in St. Louis County; 12 in Jackson County; 3 in St. Louis City; two in Boone County; and one each in Buchanan, Butler, Camden, Cole, Franklin and Jasper counties.

Missourians may check for Unclaimed Property 24 hours-a-day at www.ShowMeMoney.com. About 60 percent of claims are eligible for paperless processing and wait times have been cut in half. Individuals may also sign up for email notifications and can track a submitted claim from the website.

About Treasurer Zweifel’s Unclaimed Property

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

State Treasurer Clint Zweifel announces Kindle giveaway

State Treasurer Clint Zweifel announced today MOST–Missouri’s 529 College Savings Plan will award Kindles, which are electronic readers, to two lucky Missourians as part of the plan’s 529 College Savings Day^® celebration. Winners will be selected from the pool of applicants who enter for a chance to win at www.most529savings.com by clicking on the 529 Day button. Entries will be accepted from May 1 through May 31, 2011. There will be three winners receiving the following prizes:

1^st Place – Winner will receive a Kindle and $50 Amazon.com gift card.

2^nd Place – Winner will receive a Kindle.

3^rd Place – Winner will receive a $50 Amazon.com gift card.

“I am excited we can give these great summer learning tools away and remind Missourians of the importance of college savings at the same time. Consistent contributions to MOST 529 can have a big impact, just like reading regularly,” said Treasurer Zweifel, who sponsors the college savings program. “To facilitate continued learning beyond grade school and high school, Missourians will also get the largest cost reduction ever on their MOST 529 Plan investments. The change takes effect on June 6 and makes MOST 529 one of the lowest costing plans in the nation, helping you keep more of your money invested in the future of your child.”

The giveaway is open to Missourians age 18 or older.* Winners will be notified by phone June 1, 2011, and announced June 8, 2011.

Falling on May 29, 529 College Savings Day^® is meant to remind Missouri’s families that saving for college is one of the most important things they can do for the children in their lives. Saving even a little bit of money as early as possible is integral to lowering the expense hurdle of a college education.

“If you start investing $50 per month in a MOST 529 account when a child is born, you could accumulate $16,633 by the time the child turns 18,**” Treasurer Zweifel said. “Small investments can add up over time to make a real impact on a child's education.”

MOST 529 currently has more than 123,000 account owners and more than $1.5 billion in assets, all-time highs for the plan.

With MOST 529, you can:

• Start saving with as little as $25. Additional contributions of $25 may be made at anytime.
• Save on taxes. Contributions and earnings grow deferred from federal and Missouri state income taxes, and can be withdrawn tax-free when used for qualified higher-education expenses.*** Plus, Missourians who are account owners qualify for a state income tax deduction on their contributions of up to $8,000 per tax year ($16,000 if married and filing jointly).****

· Choose from a variety of investments. With a wide variety of investment options, account owners can find an investment that matches their goals and comfort level.

For more information about MOST 529, visit www.most529savings.com or www.treasurer.mo.gov.

About the MOST 529 Plans

State Treasurer Clint Zweifel sponsors MOST 529, the tax-advantaged program that enables families to save for a child’s higher education. MOST 529 is an affordable, low-cost, tax-deferred way to save for higher education expenses. Investments in the plans can be used towards many qualified higher education expenses, including tuition, certain room and board expenses, books and mandatory fees at most four-year colleges and universities, many two-year institutions and vocational schools and some schools abroad. In addition, savings in MOST 529 can be used towards associate's, bachelor's and advanced degrees. Account owners may deduct up to $8,000 in contributions each year in computing their state income tax and married couples filing jointly may deduct up to $16,000 annually. Contributions to MOST 529 in a tax year are deductible from Missouri state income tax, but may be subject to recapture in subsequent years if an account owner makes a nonqualified withdrawal.

* Except employees and their immediate families and members of the same household of the sponsor (MOST—Missouri's 529 College Savings Plan), The Vanguard Group, Inc.; Upromise Investments, Inc.; State Treasurer Clint Zweifel’s office; and their respective agents or affiliates.

** A plan of regular investment cannot assure a profit or protect against a loss in a declining market. Monthly investments of $50 for a period of 18 years; annual rate of return on investment of 5% and no funds withdrawn during the time period specified. This hypothetical example is for illustrative purposes only. It does not reflect an actual investment in any particular 529 plan or any taxes or penalties payable/due upon distribution.

*** Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

**** Contributions to the plan in a tax year are deductible from Missouri state income tax, but may be subject to recapture in subsequent years if you make a nonqualified withdrawal.

Investment returns are not guaranteed, and you could lose money by investing in the Plan. Participants assume all investment risks, including the potential for loss of principal, as well as responsibility for any federal and state tax consequences.

If you are not a Missouri taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about MOST—Missouri's 529 College Savings Plan, call 1-888-414-MOST or visit www.missourimost.org to obtain a Program Description, Privacy Policy, and Participation Agreement. Investment objectives, risks, charges, expenses, and other important information are included in this document; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor and Underwriter.

The Missouri Higher Education Savings Program (the "Program Trust") is a trust created by the State of Missouri. When you invest in MOST—Missouri's 529 College Savings Plan (the "Plan"), you are purchasing portfolio units issued by the Program Trust. Portfolio units are municipal securities. The Plan has been implemented and is administered by the Missouri Higher Education Savings Program Board (the "Board"). Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations, including effecting transactions. The Vanguard Group, Inc., and American Century Investments serve as Investment Managers for the Plan. Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., markets and distributes the Plan. The Plan's portfolios, although they invest in mutual funds, are not mutual funds.

Senate passes permanent extension of Missouri Linked Deposit Program sought by State Treasurer Clint Zweifel

The Missouri Senate today passed House Bill 109, authorizing the permanent extension of the Missouri Linked Deposit Program. The bill was sought by State Treasurer Clint Zweifel (ZWY-ful) to guarantee farmers and small business owners continued access to low-cost investment capital. The bill heads to Governor Jay Nixon’s desk.

The legislation passed the Senate 33-0 and the House 158-0. Treasurer Zweifel has lent more than $570 million and impacted more than 9,000 jobs and farmers through the Missouri Linked Deposit Program. The low-interest loan program is fiscally responsible because the partner lending institution takes all credit risk, not the state.

“Our challenge is clear – invest in an economy that provides jobs for every Missourian looking for work. This permanent extension of low-cost investment capital guarantees we will continue to invest in Missouri’s strengths and its entrepreneurial spirit,” Treasurer Zweifel said. “Today’s unanimous and bipartisan vote is good news for workers, borrowers and lenders because it provides absolute certainty – certainty that we are committed to job creation and investments in family farms.”

Representative Don Wells sponsored HB 109.

“The passage of this bill in the Senate is good news for Missouri. The Missouri Linked Deposit Program has proven to be an excellent economic tool,” said Rep. Wells, the bill sponsor. “Treasurer Zweifel’s efforts to increase usage have been extremely successful in my district, and extending this economic development tool ensures access for our small business owners and farmers.”

HB 109 removes the Missouri Linked Deposit Program’s expiration date set for Dec. 31, 2015. Loans, which are approved yearly for up to five years, are available with five-year fixed rates. The permanent extension provides certainty to lenders that the highly popular five-year fixed rates will continue uninterrupted.

In 2009, Treasurer Zweifel’s jobs and economic development package expanded eligibility for the Missouri Linked Deposit Program. The single largest expansion of the program allows businesses with up to 99 employees to qualify; previously a business could have no more than 24 employees.

About the Missouri Linked Deposit Program

Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan from State Treasurer Clint Zweifel through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 112 lenders with 300 branches throughout Missouri use the Missouri Linked Deposit Program. Information on the program and a list of participating lenders in the state can be found at www.treasurer.mo.gov/LinkedDeposit. The Missouri Linked Deposit Program was established by law in 1986.