Illinois State Treasurer Michael Frerichs talked about how the federal government has been selling US Savings Bonds for over 70 years, but they haven’t paid out bonds to individuals who have either misplaced them or just forgotten that they had them.
Treasurer Frerichs went on to discuss that the United States is sitting on over $26 billion in unpaid US Savings Bonds. Treasurer Frerichs estimates that there is around $1 billion in unpaid US Savings Bonds in Illinois.
Finally, Treasurer Frerichs talked about the mechanism that’s in place to help return those funds.
Treasurer Frerichs was a guest on the Newstalk WTIM Morning Show.
