While seemingly just another Tuesday, the Federal District Court for Delaware determined that Delaware’s audit estimation method and other practices relating to the Temple-Inland examination violated the due process clause of the Fourteenth amendment of the United States Constitution. The decision rendered is a critical one for the unclaimed property holder community.
Compliance (297 articles)
Most state estimates suggest that only 15 to 35 percent of companies are in full compliance with unclaimed property laws, and even those who are in compliance technically may be underreporting because they aren’t correctly interpreting what the law requires. Here you will find best practices and articles to help you comply with unclaimed property rules and regulations.
On June 21st, United States Congresswoman Elizabeth Warren (D-MA) and Congressman Steve Daines (R-MT) introduced Senate Bill 3078 which would create the “Retirement Savings Lost and Found Act” (“RSLFA”). The legislation is based on the assertions made in a March 2015 TIAA-CREF Survey Report indicating that of all respondents to the survey, thirty percent (30%) […]
In response to separate lawsuits filed by Pennsylvania and Wisconsin, the state of Delaware filed a motion with the United States Supreme Court regarding whether “official checks” are considered “other similar instruments” as provided by the federal statute.
On May 6th, four Kemper-related insurance companies filed suit in a Florida state court seeking to declare invalid and enjoin the retroactive enforcement of provisions recently added to the Florida unclaimed property law by the enactment of Senate Bill 966. The legislation made extensive changes to a life insurer’s obligations.