State Treasurer Tate Reeves takes his office to the Fair
Jackson, Miss: (October 3, 2007)-Lines of people will gather this week to enjoy one of the most anticipated events of the season, the Mississippi State Fair. Many fair-goers will enjoy exciting rides and great food, but one attraction families can not afford to miss is the Treasury Department’s booth.
State Treasurer Tate Reeves will have staff available to help fair-going individuals reunite with more than $38 million in unclaimed property. Mississippians will have the opportunity to search for their names and those of their relatives on computers located in booths 158 and 159 of the Trade Mart Building.
“Nearly 1 in 5 Mississippians have money representing over $38 million that needs to be claimed,” said Treasurer Tate Reeves. “This is the kind of government program I like-one where government actually gives money back instead of taking it away.”
Unclaimed property consists of dormant funds that businesses report to the Mississippi Treasury Department. Businesses such as banks, savings and loan companies, insurance companies, and travelers’ check companies are required by law to report these monies to the state treasury after funds have been dormant for five years. The State of Mississippi never assumes ownership of unclaimed monies, but acts as a custodian until the rightful owners or heirs are found.
Another important attraction at the Treasury
Department’s booth
is College Savings Mississippi. Staff will have information and
literature about the program readily available. Treasurer Reeves
oversees College Savings Mississippi, which is comprised of two programs-Mississippi
Prepaid Affordable College Tuition (MPACT) and Mississippi
Affordable College Savings (MACS). These savings plans
are designed to provide an affordable option for parents or grandparents
who want to prepare now for rising cost of education. The enrollment
period for MPACT is September 1st through November 30th.
“My goal with College Savings Mississippi is twofold – one, stressing
the importance of a college education to all Mississippi families; secondly,
convincing families to start saving now for their education expenses,” said
Treasurer Tate Reeves.
Treasury staff will be available at the fair Wednesday, October 3rd through October 14th. On October 3rd, staff will be at the fair from 5 p.m. until 7 p.m. All other days staff will be present from noon until 7p.m.
