Illinois Treasurer Michael Frerichs has announced a record-breaking achievement: over $2.5 billion in missing money has been returned to residents, nonprofits, and businesses through the state’s I-Cash program since he took office in 2015.
The program, which safeguards forgotten bank accounts, uncashed checks, unpaid life insurance claims, and more, has reunited over 2.5 million people and organizations with their lost funds. Frerichs modernized I-Cash with electronic claims, automatic matching, and a Spanish-language website, making it easier than ever for people to receive their money.
A recent highlight was the return of $440,000 from the estate of Joseph and Emilia Maldonado to St. Jude Children’s Research Hospital, helping push the total past $2.5 billion.
Frerichs also reformed life insurance payouts, resulting in over $500 million being paid directly to beneficiaries after audits found companies withholding death benefits. The Enhanced Money Match program has automatically returned more than $130 million to 870,000 people since 2018.
Residents can check for unclaimed property and start claims at the I-Cash website.