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Minnesota Holding onto $606M in Unclaimed Assets

Updated: 09/01/2014 4:51 PM
Created: 09/01/2014 4:50 PM WDIO.com

MINNEAPOLIS (AP) - The state of Minnesota is making little effort to return unclaimed money to more than 50,000 residents, including a U.S. senator, rock star and state commissioner.

A Minneapolis Star Tribune report says the state Department of Commerce is holding onto $606 million in unclaimed assets.

The stash includes funds from dormant bank accounts and safe-deposit boxes. It also includes untouched death benefits and stock shares.

U.S. Sen. Amy Klobuchar says she wasn't aware the state had some of her cash, listed as over $100. Rock star Prince and state Human Services Commissioner Lucinda Jesson are also in the state database.

Commerce spokeswoman Emily Johnson Piper says the state doesn't actively track people down. It no longer notifies people by letter but it does link to a searchable website.

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Information from: Star Tribune, http://www.startribune.com

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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