Gain an Hour and Maybe Gain Some Cash Too
Daylight saving time provokes strong feelings. Some lament the loss of daylight. Others decry losing an hour of sleep when we spring forward. Every year, lawmakers introduce bills to do away with it, though the issue never seems to be resolved.
Adjusting the clocks seems like something we have done forever, but it wasn’t signed into law with uniform start and end dates until 1966. The federal government had stepped in more than 80 years before that to bring order to more than 100 local time zones driven by the railroads. Daylight saving time was not aimed at helping farmers like my grandfather, as some believe.
For Grandpa Frerichs, farming meant letting the sun, not a clock, determine when he worked.
For me, it’s an easy way to remind people to check our ICash site twice a year. The Illinois Treasurer’s Office receives an influx of missing money once a year from financial institutions, and about six months later from businesses.
Daylight saving time has some other similarities to unclaimed property. Many people are happy to gain an hour of sleep in the fall, just like when they find we have money for them that they weren’t expecting.
And just like some people complain about having to reset their clocks, some people get frustrated with information they must provide to claim their money. This often applies to large dollar claims and when the rightful owner has passed away and heirs are trying to claim it. I hear you. But I think folks would be more upset if we gave their money to the wrong person. We must follow the law.
The good news is we have made most claims easier to complete.
Under my watch, we started using the power of the Internet to verify your identity without requiring any paperwork. Now, a comfortable majority of people claiming their own money never have to do more than fill out an online form. Our software does the rest. And for the smaller number of folks who still have to provide some documentation, we put in place e-claiming, allowing you to take a picture of certain documents and upload or email them to us.
We also now use databases to send missing money back to its rightful owner without you even having to file a claim. Over the summer, we mailed a record-breaking 600,000 checks to people in Illinois through our money match program.
We keep improving ICash because it is my job, because it is fun to return money, and because it is just the right thing to do.
All those positive changes mean we have set records returning money to people. My two predecessors as Illinois Treasurer returned about $862 million combined to about 400,000 people. Since taking office, we’ve returned nearly $2.5 billion to nearly 2.2 million people. And we have returned more money to more people than all three of my predecessors combined in a shorter time.
Since I took office as State Treasurer in January 2015, we’ve completely overhauled the program and as a result have returned record amounts of money to people through ICash.
So, before you go to sleep this Saturday, remember to set your clocks back an hour and don’t forget to check our ICash website if it has been longer than six months since your last visit.
I think you are going to like the extra hour of sleep you get this weekend, and I bet you will like the missing money we might have for you. About one-in-four people who check find some, and the average amount is about $1,000. Money you find should help you sleep a little easier too.
Sincerely,
Michael
Honoring Leaders During LGBTQ+ History Month
Hear from inspiring LGBTQ+ leaders and the success they have achieved in their fields.
In commemoration of LGBTQ+ History Month, my office celebrated seven inspiring individuals and one impressive organization making Illinois a better place to live, work, and raise a family through their ongoing dedication to justice and equal opportunity.
Our awardees were:
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Joey Mak, chief executive officer of Chicago: Blend — Outstanding Service in Business
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Brian Johnson, senior advisor at Equality Illinois — Outstanding Service in Leadership
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Roderick Hawkins, associate dean of external affairs and chief of staff at Northwestern University School of Communication — Outstanding Commitment to Community Service
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Dr. Lourdes Torres, chair of the Latin American and Latino Studies Department at DePaul University — Outstanding Commitment in Education
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Mark Bonne, 14th Ward alderman on the Rockford City Council — Outstanding Commitment as an Elected Official
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Liliana Calderon Castillo, director of health and safety programs at the International Union of Bricklayers and Allied Craftworkers — Outstanding Achievement in Workforce and Labor
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Stonewall Sports Chicago — Outstanding Achievement in Sportsmanship
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Bonsai Bermúdez, executive director of the Youth Empowerment Performance Project — Outstanding Achievement in Arts and Humanities