Pennsylvania Distributes $1.7 Million in Unclaimed Funds

The Pennsylvania Treasury has launched the Money Match program, initiating the automatic distribution of $1.7 million in unclaimed funds to over 7,000 residents, with checks being sent directly to individuals without the need for prior claims or paperwork. State Treasurer Stacy Garrity, along with Senator Scott E. Hutchinson and Representative Ryan Bizzarro, highlighted the program's aim to streamline the return of unclaimed property, which can include dormant bank accounts and forgotten stocks. This initiative, which received unanimous legislative support and was signed into law last year, will send out checks quarterly, with a larger distribution of about 40,000 checks expected in May. Garrity emphasized the importance of awareness regarding unclaimed funds, as many recipients may not have realized they were owed money. The program specifically applies to properties valued at or below $500, while more complex claims will still require traditional filing processes. Overall, the Money Match program is set to efficiently return a portion of the $4.5 billion in unclaimed property held by the Treasury.