Thousands Of Pennsylvanians Have Unclaimed Money Owed To Them

PITTSBURGH (KDKA) — When Liz Gray of the South Side heard her name was listed in the newspaper by state Treasurer Joe Torsella, her reaction, “This was a big surprise, actually.”

“I had a couple friends email me this morning and say, ‘Hey, the state owes you money,’ and I was like, ‘What?” Gray told KDKA money editor Jon Delano on Wednesday.

In a 10-page insert in the Pittsburgh Post-Gazette, Torsella listed all residents in Allegheny County for whom the state holds at least $250 in unclaimed property.

“You see hundreds of names in just 10 pages, and that’s just the tip of the iceberg,” Torsella said.

Torsella says his office is holding $3.1 billion in unclaimed property for one out of 10 Pennsylvanians.

“We hold this property in custody forever. It is always claimable. There is no statute of limitations.”

At PaTreasury.gov, it’s easy to type in your name to see if you’re owed anything.

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KDKA’s Jon Delano talked to some folks at Market Square.

Delano: “You’re owed under a hundred bucks, but you’re owed money.”

Woman, with enthusiasm: “I’m owed money!”

Not everyone is so lucky.

Delano: “Sorry, no records were found.”

Woman: “Too bad. I don’t get a million dollars?”

Under state law, the Treasurer is required to advertise in each county the names of those owed at least $250 in value, and it’s not just cash.

There’s a vault full of unclaimed safe deposit box contents, recovered stolen property, insurance policies, and forgotten stock certificates.

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Now again, one out of 10 of us are owed money.

When KDKA looked in the paper, his name was not on the list, but when he went to PaTeasury.gov, his name is listed not once, but twice.

And the list keeps growing.

“Every year new properties are reported to us,” says Torsella.

A good reason to check out the website at least once a year.

More from Jon Delano

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