Mississippi asking feds to hand over $155 million worth of uncla - MSNewsNow.com - Jackson, MS

Mississippi asking feds to hand over $155 million worth of unclaimed savings bonds

Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
JACKSON, MS (Mississippi News Now) -

Folks often find savings bonds tucked away in boxes in the attic, but those slips of paper are worth cold hard cash.

Still, frequently forgotten.

"Savings bonds....I don't really hear that term a whole lot anymore," admitted Pauline Almenia.

Tom Riddell still buys them for his grandchildren.

"If you keep them and don't put them in a safe place like a safe deposit box or someplace in the house where, the kids have to know where they are too," said Riddell.

Get this, $155 million worth of those savings bonds may belong to Mississippians.

That's why state Treasurer Lynn Fitch sued the federal government last year, saying those matured bonds should revert back to the state, not the feds. Why? She says the feds aren't making any effort to find the rightful owners and heirs to those bonds.

When you talk about claiming money, people want to know.

"If I had grandparents that left me anything like that, I certainly would want it," said Almenia. "I could use it."

Treasurer Fitch said she'd like the state to get control of the matured and abandoned bonds. She'd distribute the money through her office's unclaimed property program.

Even those who buy them admit, the family has to know how to find them.

"But it's like anything else, if there's nobody around to go through them, then they go unclaimed," added Riddell.

The federal judge heard arguments last week in a similar case for Kansas. A decision will be made in Mississippi's case after a decision is reached for Kansas.

If you want to track bonds rather than digging through boxes in the attic, try the Treasury Hunt database on The Treasury Direct site. It is limited and only includes searches for specific types of bonds issued after certain dates. 

Copyright 2017 MSNewsNow. All rights reserved.

Powered by Frankly