Kan. Gets US to Redeem Abandoned Savings Bonds

KSAL StaffJanuary 15, 2014

The federal government has agreed to redeem almost $862,000 in abandoned U.S. savings bonds held by Kansas after a 14-year battle waged by the state’s treasurers.

Current Treasurer Ron Estes says he’s hoping the government will redeem about $151 million more.

The Wichita Eagle reports the 1,447 redeemed bonds include some that date back to World War I. They were recovered from abandoned safe-deposit boxes once rented by Kansas residents.

It’s the first time the federal government has agreed to cash out abandoned bonds. The state doesn’t get to spend the money, but it’s allowed to invest it and keep the interest and earnings.

Estes says the state’s unclaimed property fund now is at $260 million and generates $7 million to $8 million a year for the state budget.

Copyright © Rocking M Media, 2020. All Rights Reserved. No part of this story may be reproduced without Rocking M Media’s express consent.

CATEGORIES :

COMMENTS

RELATED POSTS

Changes Coming For Kansas License Buyers

December 2, 2017 10:15 am

Proposed Kansas Tyson Plant Paused

November 21, 2017 6:19 am



STAY IN TOUCH!

GET OUR APP!

LATEST POSTS

Church Bus Windows Shot
January 23, 2020Comments
Wichita Company Announces...
January 23, 2020Comments
Crash Slows Traffic Flow
January 23, 2020Comments
BB Gun Vandal Arrested
January 23, 2020Comments

LATEST TWEETS

Read all tweets
© 2007 - 2020 - EEO  - KDJM  - KABI  - KSAL-AM  - KSAL-FM  - KVOB  - KYEZ  - KZUH