Rep. Fritts hosts joint IPASS and ICASH event Feb. 4 in Sterling

STERLING — State Rep. Brad Fritts, R-Dixon, will host an I-PASS and ICASH event from 2 to 6 p.m. Feb. 4. at the Sterling Public Library, 102 W. Third St., Sterling.

“I invite all local residents to come out for this convenient joint I-PASS and ICASH event,” Fritts said. “This will allow constituents to receive assistance with two services at once, saving them time and money.”

Representatives from I-PASS will assist constituents with switching out their old transponders for the new I-PASS tollway sticker.

Representatives from the Illinois Treasurer’s Office will be available to assist residents with claiming any unclaimed property they may have.

ICASH is Illinois' missing money program. Last year, ICASH processed 331,032 claims that helped Illinois State Treasurer Michael Frerich’s office return $260.6 million in cash and $38 million in securities to residents statewide. The average claim amount was $902.

Illinois holds more than $5 billion in unclaimed property, including forgotten bank accounts, unpaid life insurance benefits, unused rebate cards and the contents of safe deposit boxes. Frerichs restructured the process to add electronic claims, streamline processes that previously delayed small-dollar claims and use technology enabling payments without the need to file a claim.

The Enhanced Money Match program allows Frerichs' office to automatically return money to residents without them needing to file a claim. Last fall, the program returned nearly $13.2 million to 140,000 people, with the majority of those payments averaging between $50-$100 a check.

“Putting money back in people’s pockets helps families and our state’s economy. This money belongs with its rightful owners,” Frerichs said. “We have made it easier to file a claim in many cases and streamlined the system with the help of state lawmakers.”

ICASH helped pay about 60,000 claims each year when Frerichs took office in 2015. Since then, he has helped the program grow to pay more than 300,000 claims each year, returning over $2.2 billion to state residents.

The State Treasurer’s Office recommends residents check for unclaimed property at least twice a year by visiting icash.illinoistreasurer.gov. The office must legally return unclaimed property to its owner regardless of how long it takes.

Last year, a Spanish-language website was also added, es.icash.illinoistreasurer.gov.

Visitors to the ICASH website can use the Friends and Family “share” feature to provide an email address for any friends or relatives' names they come across on the site. Frerichs' office will email them about the missing money, including the name of the person who referred them so that they can begin the process of reclaiming their money.

For information about Fritts, visit RepFritts.com.