Due To An Aging Population, Oregon Labor Force Is Shrinking

Oregon Labor Force: Oregon residents who have yet to collect on uncashed salaries, security deposits, tax refunds, or other forms of unclaimed property will soon get checks from the state Treasury for up to $10,000.

Oregon Labor Force Is Shrinking

Oregon’s present and former residents can expect to receive roughly $10 million in unclaimed funds that were declared last week by Treasurer Tobias Read. Eric Engelson, the Treasury’s public information director, claims that this is a negligible portion of the almost $880 million in the unclaimed property the state currently manages.

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It gives us great pleasure to return millions of dollars in unclaimed cash to their rightful owners,” Read said in a statement. “Treasury is dedicated to raising awareness across Oregon and providing easy, accessible ways for individuals to discover and claim money owed to them, in addition to collecting and safeguarding unclaimed property from Oregonians.”

Oregon Labor Force Is Shrinking
Oregon Labor Force Is Shrinking

Check unclaimed.oregon.gov to see if you are owed money or property. Forgotten bank or investment accounts, uncashed cheques, tax refunds, and utility bill credits are all examples of personal property that may go unclaimed.

In order to obtain their money, Oregon residents typically have to make a claim with the Treasury. Some persons who have unclaimed property from 2018, 2019, or 2020 will get direct deposits this spring. Eligible property is owned by a single person, has a value between $50 and $10,000, was reported using the owner’s Social Security number, and is not an investment in stocks, bonds, or mutual funds.

First checks, for property reported in 2018, will be mailed in February, with letters of notification from the Treasury to recipients sent out one month in advance. Next, in April, you’ll receive your check for 2019’s reported property, and in June of 2020, you’ll receive your check for 2020’s reported property.

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