(Part 1 of 2) The bottom slice of bread in the Dakota sandwich is recognized as the home to Mt. Rushmore, but South Dakota is holding something just as valuable but much less known. (...)" />

January 13, 2012

Locate SD Unclaimed Money – Part 1 of 2

(Part 1 of 2)

The bottom slice of bread in the Dakota sandwich is recognized as the home to Mt. Rushmore, but South Dakota is holding something just as valuable but much less known. The Office of the State Treasurer currently holds tens of millions of dollars in South Dakota unclaimed money that belongs to residents of the state. With one of the smallest state populations in the United States, South Dakota citizens have very good odds of locating money owed to them, if they learn where to look.

Increased efforts by the state to hand back lost money to the actual owners have helped give back approximately $2.2 million annually in recent years, but the vast majority still doesn't get returned, because an average of $6.7 million is handed over to the state every year. This basically means that the state's fund grows by about $5 million annually. So while the State Treasury Department provides no exact total, it is reasonable to assume that they're holding in excess of tens of millions.

(to be continued)

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