National Association of Unclaimed Property Administrators

2015 State of the States Unclaimed Property Program Highlights from the Past Year

The Foremost Authority on Unclaimed Property

National Association of Unclaimed Property Administrators

ARIZONA 2014-2015 Program Highlights • Completed several direct mail owner outreach projects • Completed procurement process and awarded contracts for audit services, securities custody services and appraisal services • Updated format to provide more complete information regarding escheated estates in the Department's custody • Completed refresher training for support staff and utilized new Training Manual

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

ARIZONA Things on the Horizon • • • •

Exploring options for an online claims portal Considering expanding direct mail outreach efforts Closely monitoring Uniform Law Commission efforts Discussing ideas for potential staff retreat/training day

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

ARIZONA Pending Legislation • None

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

ARIZONA Important Personnel Changes • No recent changes

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

State of Connecticut 2014-2015 Program Highlights • CT fiscal year runs from July 1 through and including June 30 of each year. Program highlights are estimates for ten (10) months of FY2015. • Gross Receipts through April 2015 total $98.6 million: – Receipts include $9.5 million for sale of securities; $86.9 million voluntary compliance by holders; and, $2.2 from audits

• More than 16,000 claims were paid to rightful owners totaling $51.6 million • Holder Guide is exclusively on line and updated annually, in September, for March reporting cycle. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

State of Connecticut Things on the Horizon • Anticipate publishing over 35,000 names in October 2015

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

State of Connecticut Pending Legislation • In January 2015 our office submitted proposed legislation to permit publication of names through the World Wide Web. The Connecticut General Assembly is in session through June 3, 2015, and it is unclear if the proposal will pass.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

State of Connecticut Important Personnel Changes • • • •

Maria Greenslade, Assistant Deputy Treasurer Gloria Williams, Controller Diane Haugh, Supervising Accounts Examiner Renee Meucci, Claims Supervisor

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

State of Delaware Office of Unclaimed Property 2014-2015 Program Highlights Focusing on Claims

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Delaware Fiscal Year 2014 Cash and shares returned: • Claims Processed and Fulfilled: 9,110 • Over $100,000,000 in cash and shares returned to rightful owner 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Delaware Fiscal Year 2015 (to date) Cash and shares returned: • Claims Processed and Fulfilled: 10,244 • Over $83,000,000 in cash and shares returned to rightful owner

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

DELAWARE Focusing on Claims • Thomas Eoppollo – Assistant Director, Office of Unclaimed Property – Email: [email protected] – Phone: (302) 577-8692 • There are currently 19 employees that work directly with claims. This does not include our stock group, receipts management, and holder reporting areas.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Delaware Looking to the future (later this year): • Auto Case generator. This feature will assign cases automatically taking into account current inventory’s of each individual responsible for processing claims. • Internet based system. This will allow claimants to initiate and enter their claim information further streamlining our claims process. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Delaware Looking to the future (later this year): • Lexis Nexis. Having access to this program will allow us to verify owner information and create the potential for fast tracking certain claims. • Electronic PV process. For domestic addresses we will create an electronic payment voucher to be sent the Treasury Department which will reduce the amount of time to issue a check from Treasury. • KAPS/RAS reconciliation. Payment information will be reconciled using a program on a monthly basis between KAPS and RAS. Currently is a manual process. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Delaware Looking to the future (later this year): • Imaging. This will eliminate manual transferring of files and increase the processing time for claims. • Stop Payment/Re-issue process to be automated. Currently, replacement checks are requested manually. This will further streamline the replacement check process and will be part of the reconciliation process between KAPS and RAS. • Workbench/KAPS integration. Stock information from Workbench (BNY) will be uploaded into KAPS eliminating much of the manual process for posting proceeds and updating KAPS data. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

FLORIDA 2014-2015 Program Highlights • Florida has returned more than $1 billion to citizens and businesses during CFO Atwater’s first 52 months in office (four years and four months). • Claims payments exceeded $260 million in 2014 alone – paying more than 400,000 claims. • Florida has now returned more than $2.6 billion to rightful owners – nearly 4 million approved claims. • Completed development and implementation of on-line, electronic holder reporting functionality. • Received 2015 UPPO Members’ Choice Overall Excellence Award. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

FLORIDA Things on the Horizon

• Florida will soon launch implementation of a new, online, electronic claims function. • Next, will then be “Phase 2” of the on-line, electronic Holder Reporting System 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

FLORIDA Important Personnel NEWS Florida, by a very wide margin, was voted as having the “BestLooking Unclaimed Property Administrators” in the Nation!

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Idaho 2014-2015 Program Highlights • Revised holder reporting instruction packet – More interactive including hyperlinks and fillable forms. – All forms will be included in the packet (ex. request for reimbursement, request for extension, and informal VDA’s)

• Updating website (http://sto.idaho.gov/unclaimedProperty/) – Links and navigation will be simplified and information will be more centralized and easier to find.

• To become more efficient Idaho unclaimed property will replace holder post card reminders, with emails. • Idaho may utilize interest and penalties on late filers per Idaho code §14-533 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Idaho Things on the Horizon • Our goal is to integrate technology to make filing reports easier and more interactive for businesses. • Idaho Unclaimed property is planning on hosting annual holder reporting seminars. – We are planning on putting webinars on the website for people who cannot attend these sessions.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Idaho New Legislation

• The State of Idaho has passed the Idaho Unclaimed Life Insurance Benefits Act. Idaho Code §41-3002 (3) Effective July 1st 2016

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Idaho Important Personnel Changes

• John Faltin new Business Holder Specialist as of September 2014 – [email protected] (208) 332-2977

• Unclaimed Property Program Specialist position is currently open

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

INDIANA 2014-2015 Program Highlights • Record for claims paid out (more than $70m) in FY’15 • Record for properties received (more than $125m) • Proactive accounted for almost $20m (phone calls for properties over $10k, direct mail over $100) • State Employee UCP Day at the State House (on-site search & direct mail to employees with unclaimed prop) • Weekly social media posts and tweets (Indiana Unclaimed Property has more than 18,000 Likes) • Began paying out interest for first time (for interestbearing properties) 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

INDIANA Things on the Horizon • • • • •

Electronic claims (for fast track claims) System for scanning and attaching claim documents Create Holder reporting manual Update claim instruction sheets Track and communicate with Locator firms

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

INDIANA Pending Legislation • SB 208 – Savings Bonds – similar to Kansas legislation, allows the state to take title of matured bonds which lay dormant in Unclaimed Property for 3 years.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

INDIANA Important Personnel Changes • Director Bill Fulton – now Chief Financial Officer OAG • Joel Welch – now database manager

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

IOWA 2014-2015 Program Highlights •

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The Great Iowa Treasure Hunt was featured on Inside Edition in February. A 2.3 million dollar claim and safe deposit box contents were showcased. The Great Iowa Treasure Hunt Facebook page grew 320% after running a Facebook acquisition. As a result we were able to locate the owner of a purple heart and get it back in the hands of the rightful owner. eBay auctions have been held consistently twice a month since the Fall of 2013. In the 30 auctions, we have sold 728 items for $55,649.38. Holders reporting via email or ETM is 33% which is up 10% from the previous year.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

IOWA Things on the Horizon • Online Claims • Holder ACH Payments • Outdated State Warrants searchable through the Great Iowa Treasure Hunt

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

IOWA • No important personnel changes at this time. • No pending legislation at this time.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

KANSAS 2014-2015 Program Highlights

• FY 2014 new record of over $52 million in receipts • FY 2014 new record of over $22 million in paid claims • Increased social media outreach

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

KANSAS Things on the Horizon

• Imaging (electronic document storage) • Updated Holder section of our website to make it more user friendly • Integration with the Kansas Business Center portal

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

KANSAS Pending Legislation • HB 2196: De minimis abandoned property • Bill would change Unclaimed Property Act to authorize government entities to dispose of, as they see fit, any abandoned financial instruments valued at $20 or less that have been held for one year. • Pushed by one county, supported by others. • Appears dead for this year.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

KANSAS Important Personnel Changes • BJ Harden – Hired as Department Director

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

LOUISIANA 2014-2015 Program Highlights • We reached a milestone of over $1 billion collected since the inception of the program • FY 2014 was an unusual year due to the special “Toll” project, with $97.7 million collected and $37.5 million refunded to owners • The numbers so far in FY 2015 are more in line with normal, $85 million collected and $29.7 million refunded • The “Toll” check-write project finished up with $2.2 million (over 56%) of the checks cashed and $1.7 million returned to Unclaimed Property for future claims 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

LOUISIANA Things on the Horizon • Redemption of U.S. Savings Bonds – We passed the necessary legislation last year and recently filed suit to redeem the bonds in our possession. • Website redesign • Increased social media exposure • Claims fast-tracking expected to be in place before the end of the year

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

LOUISIANA Pending Legislation • HB 692 – This bill modifies the section pertaining to the indication of an owner’s interest in property to include an “ACH transaction or any other electronic transaction that is owner-directed or otherwise authorized by the account owner”; and also to include “accessing of a deposit account by the owner through the website or other restricted electronic access point”

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Maine 2014-2015 Program Highlights • Standardized filing process for heirfinders by allowing them to file claims online, similar to other claims. • Participated in a 2-hour news cast telethon in largest TV market in state • On pace to receive 173% more claims than previous year due to outreach efforts • On pace to pay 143% more money than previous year • Beginning transition from in-house fast track web process to Xerox’s solution to utilize identity authentication. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Maine Things on the Horizon • New claims website to be implemented in Summer of 2015 • Increased focus on electronic communication with claimants (switching from paper requests for more information to e-mail) • Claimant feedback surveys (How was your experience?) • Industry specific holder outreach/participation

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Maine Pending Legislation • U.S. Savings Bonds – LD 929 ‘An Act Relative to the Escheat of United States Savings Bonds’ amends the Uniform Unclaimed Property Act to establish a special procedure for the escheat of unclaimed Savings Bonds to the State. This law would presume abandonment of U.S. Savings bonds 3 years after the date of final maturity for bonds in custody and absent bonds. The law allows the State Treasurer to file an action in court to assume title of abandoned U.S. savings bonds.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Maine Important Personnel Changes • Terry Hayes, newly elected as State Treasurer, January 2015 • Angela Hinkley, promoted to Sr. Unclaimed Property Specialist – claims processing, holder relations. • Ivonne Medrano-Hayes – Hired as Unclaimed Property Specialist in September 2014 • Robin Hudson – Hired as Unclaimed Property Associate in May 2015

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

MINNESOTA 2014-2015 Program Highlights • On-Line Holder Reports – Tool has been released and working well • Updated Holder Report Guide – beefed up guide with more state specific instructions with links to forms • Lowered minimum amount for MissingMoney (from 100 to 50) • Lowered minimum amount on finder disk (from 1000 to 50)

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

MINNESOTA Things on the Horizon • On-line Holder report payment engine – Oct 2015 (Partner with Xerox) • Revised stock/mutual fund reporting requirements • Revised safe deposit box reporting requirements

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

MINNESOTA Pending Legislation •

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H F 843 - This bill modifies how the commissioner of commerce operates the unclaimed property division. It also requires reports to the legislature about owners of unclaimed property and the unclaimed property division’s spending and efficacy. Section 1. Requires the commissioner of commerce to report to the legislature annually regarding the unclaimed property division’s spending. Section 2. Provides that the commissioner must issue public notices of unclaimed property in several specific ways, including: posting a list on the Department of Commerce’s Web site, publishing a list of owners whose abandoned property is valued at $500 or more in qualified newspapers and on qualified newspapers’ Web sites, and using other types of media to issue the notice. Also requires the commissioner to annually provide to each legislator a list of the owners of abandoned property who live in the legislator’s district. Section 3. Requires the commissioner to provide a one-time report about the effectiveness of the methods used to return abandoned property and what type of information owners have to provide the commissioner to receive their property.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

MINNESOTA Pending Legislation •

H F 848 - The commissioner (of revenue) shall coordinate with the commissioner of commerce to provide by January 15 of each year the addresses of taxpayers whose names and Social Security numbers indicate they are owners of abandoned property under the Uniform Disposition of Unclaimed Property Act in sections 345.31 to 345.60..

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

MINNESOTA Important Personnel Changes • • • •

Scott Halvorson – Promoted to Program Director Joe Ryan– Hired as new Audit Director Rebecca Anderson – Hired as new Claims Lead Amy Stephens – Promoted to Holder Lead

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Missouri 2014-2015 Program Highlights • Returned a record amount of property in both dollars and accounts to Missourians, $40M to more than 170,000 accounts. • Implemented a new user-focused website • Implemented targeted, online advertising to increase awareness • Utilized social media and regional press releases • Expanded use of bar codes on claim forms to decrease processing time • Proactive team will return over $13 million to owners/heirs. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Missouri Things on the Horizon • Increasing dollar amount eligible for online paperless claims • Continued use of social media and online advertising to increase awareness and claims • Further utilizing technology to provide better customer service experience

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

North Carolina 2014-2015 Program Highlights • Returned a record $59.3 million to owners last year. • Launched two electronic newsletters: Holder eUpdates, to provide holders with information and tools to assist in reporting unclaimed property. NCCash eUpdates to assist in locating owners and returning unclaimed property. • Held second successful Holder Education Seminar. More than 200 attendees from across the state. • Launched Claims Fast-tracking automated claims process and participation on MissingMoney.com. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

North Carolina Things on the Horizon • With successful enactment of Savings Bond Legislation in 2014, the Department is moving forward with the process to do inventory, conduct outreach and redeeming unclaimed U.S. savings bonds in the Department’s possession and belonging to North Carolinians. • In an effort to increase the return of unclaimed property to the rightful owner, the NC Department of Motor Vehicles, NC Department of Revenue, and NC Employment Security Commission will be data sharing with the Department.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

North Carolina Things on the Horizon • To enhance the information provided to claimants, the check stub detail will be expanded to include the holder name, nature of the property, and amount for the individual properties being included in the check. • The Department of State Treasurer is relocating beginning in June. All of the Department will be located on one campus (currently 5 different locations).

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

North Carolina Pending Legislation • HB 291 will provide the Department with authority in the handling or directing financial institutions to handle unclaimed property determined to be of a hazardous nature, illegal or which is otherwise regulated, or has no substantial commercial value. • Department opposes SB 665, which does not require insurers to perform DMF comparisons on policies issued before July 1, 2015, unless the insurer engaged in asymmetric conduct prior to that date.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

North Carolina Important Personnel Changes • Will Spicer was hired as UPD Legal Specialist. This new position was created to work under the supervision of Kelly Chambers, our lead attorney to provide additional legal support services to the Division. • Permanent Audit Manager position in the process of being filled.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Nebraska 2014-2015 Program Highlights •

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More than $11.7 million in unclaimed property was returned to owners in 2014, the largest amount returned to owners in a single year since 2009. For the fourth year, the Unclaimed Property Annual Report published in 16 daily newspapers, featured interesting photos and stories of Nebraskans whose property had been returned to them. The Unclaimed Property Division successfully implemented an automated process for verifying online claims, reducing the number of claims to be processed manually by 70 percent. The Unclaimed Property Division streamlined the process for businesses and other organizations to remit unclaimed property.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEBRASKA Things on the Horizon • The IT Division is building an application to search for multiple properties under an owner’s name to enable the owner to file one claim rather than individual claims under the automated verification process.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEBRASKA Pending Legislation • None pending in the 2015 Legislative Session.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEBRASKA Important Personnel Changes • We are proud of Nebraska State Treasurer Don Stenberg, who is president of the National Association of Unclaimed Property Administrators for 2015. • Celeste Hall, who began working for the Nebraska Treasurer’s Office in 2004, was appointed Director of Claims in the Unclaimed Property Division. • Two new claims specialists, Mary Jones and Maria Donis, have been hired. • Funding has been requested from the Legislature for a new specialist devoted to research. 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

New Mexico 2014-2015 Program Highlights • July 28, 2013, New Mexico held its first unclaimed property auction since 1995. 800 items were auctioned at the live auction and 8,200 items auction on-line. • New Mexico has awarded to six third party auditors agreements to audit on behalf of New Mexico. This is a change from previous years expanding to six audit companies from one audit company.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

New Mexico Things on the Horizon • The Unclaimed Property Unit is working to set up and conduct our own eBay online auction within fiscal year 2015.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

New Mexico Pending Legislation • No pending legislation

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

New Mexico Important Personnel Changes • Ray Garcia, Administrator II retired December 19, 2014

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEW YORK Staff Present • • • • • •

Lawrence Schantz, Director Kelly Kuracina, Assistant Director Mel Kurman, Director of Audits Jennifer Brown, Holder Education & Research Kevin King, Legal Vanessa Perry, Legal

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEW YORK 2014-2015 Program Highlights • We are a $1.2 billion operation – $750M in Receipts – $427M in Claims Paid (National Record!) – Audit Collections: $142M (Another National Record!) – Social Media Presence • Communications Office • Outreach Events

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEW YORK Things on the Horizon • Online Claims Enhancements – More self service – Online image upload – Claim initiation for corporate claims

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NEW YORK Pending Legislation • Bill A6080/S5003 – Highlight: authorization of rules for electronic contact related to the commencement of the dormancy period.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NORTH DAKOTA 2014-2015 Program Highlights • Legislative authorization of additional staffing for Unclaimed Property • Forward progress on internal automation (paper reduction and data security) • Significant increase in oil royalty– 1st annual single report - ever - to exceed $1 million

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NORTH DAKOTA Things on the Horizon • Establishing thresholds for public self-service/electronic validation (claim automation) • Reinstating third party in-state audits • Reinstatement of holder education initiatives • Increased emphasis on compliance

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NORTH DAKOTA 2015 Legislation HB 1013 – Specifically exempted unclaimed property values from open records requests.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

NORTH DAKOTA Staffing Changes Gerry Fisher: Grants and Claims Director Susan Dollinger: UP Administrator Linda Fisher: Deputy Commissioner of Operations/Revenue Compliance

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

OKLAHOMA 2014-2015 Program Highlights • Completing second year of innovative pay-forperformance operations. • During first year, payouts jumped by 61 percent and set an all-time record high. • During second year, payouts are on target to set another record high.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

OKLAHOMA Things on the Horizon • Developing FY-16 pay-for-performance incentive plan. • Work to automate fast track claims to eliminate staff involvement. • Further automation of online holder reporting to require less staff time. • Increase use of available databases to locate owners. • Increase public outreach to encourage use of online database for search and claim filing.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

OKLAHOMA Pending Legislation • Successfully stalled two pieces of legislation. One would result in exclusion of life insurance companies from examinations. The other would prohibit contingency fee contracts. • Fight will continue next year, as both measures can again be considered and proponents have promised to pursue passage.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

OKLAHOMA Important Personnel Changes • Hired an internal auditor assigned exclusively to unclaimed property. • Expanded claims auditors by three positions.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

OREGON 2014-2015 Program Highlights • Online Reporting Tool now available • Electronic reporting required • Report examiner position created • Agency re-organization & office remodeling

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Oregon Things on the Horizon • Online Holder report payments via UPExchange • Simplified claim process for straightforward situations • Business process mapping to streamline all processes • Emphasis on increasing reporting compliance

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Oregon Pending Legislation • Nothing at this time

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Oregon Important Personnel Changes • Jim Paul Assistant Director of new Common School Fund Property Division- including Unclaimed Property • Cynthia Wickham now Assistant Director of Business Operations and Support Services Division (BOSS) • Patrick Tate assigned as Trust Property Manager – Estates & Unclaimed Property Programs

• Charlotte Camacho promoted to Reports Examiner • Support staff moved to new Agency Support Unit

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH CAROLINA 2014-2015 Program Highlights • Proclaimed February 18, 2015 as “Unclaimed Property Day” in South Carolina resulting in requests for more than 27,000 unclaimed accounts • Successfully implemented mandatory electronic holder reporting (UPExchange or email) • Expanded third party audit program to include securities exams • Updated holder education materials • Completed identity theft education for all UPP staff

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH CAROLINA Things on the Horizon • Researching Fast Tracking and other technology solutions to improve program efficiencies • Identifying opportunities to increase holder outreach • Creating a holder reporting guide • Developing a marketing plan to increase citizen’s awareness of the unclaimed property program

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH CAROLINA Pending Legislation • H 3852- This bill would require financial institutions and other holders to report and remit savings bonds to the State as unclaimed property five years after the bond reaches final maturity. The bill details the process for the bonds to escheat to the State and allows the State to request payment for bonds in its possession from the US Treasury.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH CAROLINA Important Personnel Changes • Linda Gamble-Champion retired in April • Dayle DeLong was appointed as the new Director of South Carolina’s Unclaimed Property Program

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH DAKOTA 2014-2015 Program Highlights • 1st year requiring electronic holder reports. • Over $14 million in claims paid to date. • Created new position for Outreach and Media.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH DAKOTA Things on the Horizon • Expanding Outreach and Media • New website • New search and claim

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH DAKOTA Pending Legislation • None

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

SOUTH DAKOTA Important Personnel Changes • Shanna Brech - Hired as Claims Specialist • Sigrid Wald – Hired as Outreach/Media Coordinator

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Tennessee 2014-2015 Program Highlights • After implementation of our new www.ClaimItTN.gov website we increased claims from 20,000 paid claims to 31,000 paid claims.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Tennessee Things on the Horizon • Issued a new Delegated Authority (similar to RFP) for all of our audit contracts. • Testing and about to implement new online holder reporting including payment by ACH. • Drafting RFP to outsource some of our claims review and call center.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Tennessee Pending Legislation • “ABLE” bill (SB 1162/HB 0999) provides funding from Unclaimed Property to enact The Achieving a Better Life Experience Act. This act provides a disabled individual to save funds in a tax exempt account for qualified expenses.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Tennessee Important Personnel Changes • None

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS 2014-2015 Program Highlights For Fiscal 2014: • Properties received from holders = $460 million (36% increase over 2013) • Claims paid = $205 million (16% increase over 2013)

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS 2014-2015 Program Highlights For Fiscal 2014 (cont.): • Implemented a work manager system that allows claims and supporting documentation to be delivered to staff electronically • Continued to refine the annual owner notification process by validating claimants’ last known address before mailing notices

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS 2014-2015 Program Highlights Implemented an automated interface with the Office of the Attorney General to match outstanding child support liabilities with unclaimed property records in May 2014 • The first file processed generated more than $3.6 million for child support families • Subsequent quarterly files have generated an additional $937 thousand

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS 2014-2015 Program Highlights • Held 43 public outreach events in fiscal 2014 that generated 2,883 claims for properties totaling more than $4.8 million • Generated more than $5 million in claims via Facebook ads

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS Things on the Horizon • Pursuing a new unclaimed property system • Establishing a secure public link for downloading unclaimed property listing • Implementing bills passed by the 84th Legislature

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS Pending Legislation • • •

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HB 858 - Increases dormancy period on bank accounts from 3 years to 5 years HB 1981 / SB 1021 - Lowers aggregate reporting threshold from $50 to $25 HB 1454 - Allows owners of mutual funds, bank accounts, or safe deposit boxes to name a representative who can establish contact with the bank on their behalf SB 1916 - Requires CPA to file suit to gain ownership of US savings bonds; similar to legislation in Kansas and other states

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS Pending Legislation • • • •

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HB 1575 & 1576 - Requires additional info to be reported about mineral proceeds HB 1577 - Requires courts to file notice with Comptroller's office when receiverships are created for mineral interests HB 3644 - Establishes a student grant program derived from unclaimed mineral proceeds SB 1589 - Requires CPA to publish certain info regarding unclaimed mineral proceeds received, specifically county of production HB 227 / SB 1586 - Related to currently allowed diversions of unclaimed property by telephone exchange companies

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

TEXAS Important Personnel Changes • 1/1/2015 New Comptroller, Glenn Hegar • 4/30/2015 Director Frances Torres retired • 5/1/2015 Joani Bishop named Director

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Utah 2014-2015 Program Highlights • Utah activated paperless claim processing on the State website in January • In February we went live with a new IVR & call center software solution for support of voice, email, web-chat and face to face interactions • In March the website was rebranded as mycash.utah.gov

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Utah Important Personnel Changes • Program Manager, Corrine Rendon, retired after more than two decades of service

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

VIRGINIA 2014-2015 Program Highlights • Design and Development of new Unclaimed Property System: TUPS • Outreach Program won the 2014 Governor’s Award for Customer Service • Implemented “Workflow”, a Paperless Processing System in Claims and Reporting.

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

VIRGINIA Things on the Horizon • Completion of “TUPS” and implementation in March 2016 • TUPS will provide Holder Report Validation, more efficient claims processing and stock sale reports • New Outreach Search Software

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Pending Legislation • None at this time, 2015 General Assembly ended with no unclaimed property legislation

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

VIRGINIA Important Personnel Changes • Elizabeth Kickler, Senior Auditor – Retired • Karen Conrad, Claims Accounting Manager and Business Lead for TUPS project - leaving later this year

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin 2014-2015 Program Highlights • Integrated Unclaimed Property functionality into our GenTax tax processing system – UCP staff can use state tax return data to assist with claims processing – Many DOR staff have system access and can assist with claims processing (no licensing issues) – New online claim filing systems allow claimants to upload documents electronically as part of claim submission – Online system is intuitive, requesting information/documentation that is appropriate for each claim type – Allows fast tracking of claims if sufficient matching criteria is met – https://tap.revenue.wi.gov/UCP/_/ 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin 2014-2015 Program Highlights • Implemented new functionality for holders to file online using existing DOR portal, My Tax Account – https://www.revenue.wi.gov/ucp/holder.html – Holders can now pay by ACH Credit or Debit as well

• Wisconsin is able to accept online reports through UPExchange • Holders can subscribe to new listserv for latest news – https://www.revenue.wi.gov/html/lists.html

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin 2014-2015 Program Highlights • New auction process implemented – Vendor picks up safe deposit box contents from our office, photographs & appraises items, conducts auction online, ships items, collects payment from buyer & also collects sales tax – Service is free for DOR; winning bidder pays a service fee – DOR receives a check for auction proceeds after auction is concluded

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin Things on the Horizon • Data matching process & auto claim generation – DOR will compare properties with owner names & SS#s to the two most recent years of tax returns – If we find an exact match with name & SS# AND the property is $2000 or less, the claim will process automatically and a check will be issued – If the property is greater than $2000, the claimant will receive a letter with instruction on how to claim – Process begins on June 8, 2015

• Effective 7/1/15, new law allows DOR to use Unclaimed Property funds to set off debt owed by claimants to state, county & municipal agencies in Wisconsin 2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin Pending Legislation • Legislature is currently in session, working on biennial budget • Nothing has been introduced yet that impacts Unclaimed Property

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wisconsin Important Personnel Changes • Erin Egan, Tax Operations Bureau Director / Program Manager – (608) 261-5235 – [email protected]

• Anastasia Thomas, Unclaimed Property Supervisor – (608) 267-2208 – [email protected]

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

West Virginia State Treasurer’s Office 2014-2015 Program Highlights • Insurance suits: hearing before the West Virginia Supreme Court of Appeals April 8, 2015. • •

• • •

September 2012 – filed suit in Putnam County Court against 60+ insurance companies Dec. 27, 2013 – a West Virginia court dismissed 68 separate lawsuits brought by the Treasurer against life insurance companies doing business in W.Va. Jan. 24, 2014 – Filed a notice of appeal with the West Virginia Supreme Court May 28, 2014 – Filed appeal with the West Virginia Supreme Court of Appeals NAUPA and Xerox filed Amicus Brief on our behalf

2015 NAST Treasury Management Training Symposium Unclaimed Property Track

National Association of Unclaimed Property Administrators

Wyoming 2014-2015 Program Highlights • Effective 07-01-15 changes to the Wyoming Uniform Unclaimed Property Act: • Wyoming Statue 34-24-102 – Definitions – Merchant stored value cards are now defined. • Wyoming Statue 34-24-114 – Gift certificates, merchant stored value cards and credit memos - Dormancy period changed to five (5) years. Refer to House Bill 0042 Engrossed for additional changes 2015 NAST Treasury Management Training Symposium Unclaimed Property Track