State Treasurer of Iowa

State Treasurer Fitzgerald Visits Marshalltown Noon Optimist Club

October 30, 2015

DES MOINES, Iowa – State Treasurer Michael L. Fitzgerald spoke with members of the Marshalltown Noon Optimist Club on Thursday, October 29. Fitzgerald, a native of Marshall County, explained his role as state treasurer and took questions regarding the Great Iowa Treasure Hunt and College Savings Iowa. “I want people across the state to know that my office is doing all it can to keep the money safe,” Fitzgerald said.

The Great Iowa Treasure Hunt program has returned over $199 million in unclaimed property to more than 468,000 people since Fitzgerald created it in 1983. Unclaimed property refers to money and other assets held by financial institutions or companies that have lost contact with the property’s owner for a specific period of time. State law requires these institutions and companies to annually report unclaimed property to the state treasurer’s office. The assets are then held until the owner or heir of the property is found. “There is never any time limit or fee to claim,” Fitzgerald added. Common forms of unclaimed property include savings or checking accounts, stocks, uncashed checks, life insurance policies, utility security deposits and safe deposit box contents.

During the event, Fitzgerald also emphasized the importance of saving for higher education. “College Savings Iowa offers families a tax-advantaged way to save in a 529 plan,” Fitzgerald said. “Iowa taxpayers can deduct up to $3,163 per beneficiary account from their 2015 Iowa adjusted gross income.”* It only takes $25 to open an account, and anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child.

The state treasurer’s office is also proud to announce a new financial literacy initiative, College Savings Iowa InFocus. This interactive learning experience introduces savers to the ins-and-outs of 529 plans. By completing the 10 minute tutorial, families are automatically registered to win a $1,000 College Savings Iowa account. The first 500 people who complete the tutorial and open a $25 College Savings Iowa account within seven days will also receive an additional $10 contribution. Access the tutorial and official rules at

To learn more about the programs offered by the state treasurer’s office, visit Go to to search for your treasure today, and visit or call 1-888-672-9116 to learn more about saving for a loved one’s future. Be sure to like Great Iowa Treasure Hunt and College Savings Iowa on Facebook and follow the programs on Twitter (@GreatIATreasure and @Iowa529Plan).

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.


Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 888-672-9116 or visit to obtain a Program Description. Investment ob
jectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing.

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