A few years ago, cash-strapped states (and their eager vendors) found a way to get the state equivalent of money from the sofa cushions by going after life insurers that had not done a good job of getting benefits out to hard-to-find beneficiaries.
The states scooped up the unclaimed property, and the interest earnings on all of that unclaimed property.
Frank Scruggs, a former Florida labor secretary who now represents employers in labor disputes as a lawyer at Berger Singerman, said in an interview that he thinks local governments may notice a possible moneymaker of their own: Going after employers that fail to send the right Worker Adjustment and Retaining Notification Act notices.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
