My staff and I would like to wish you and your family a happy holiday season. With 2019 coming to a close, we found many reasons to celebrate the success we’ve had. Here’s a year-in-review of what we accomplished in 2019:
- We earned over $56 million for fiscal year 2019 in Iowa’s investment pool, the largest amount in over a decade. The increased interest income reduces the tax burden, which is great news for Iowa Taxpayers.
- We refinanced IJOBS bonds to save the State $113.5 million over the next 15 years. In addition to rating the bonds, Iowa’s overall AAA credit rating was affirmed through this process.
- Iowa’s Achieving a Better Life Experience program, IAble, celebrated its two year anniversary! IAble is a savings program offered to people with disabilities and their families. Specifically, the program allows them to save for qualified expenses while being able to maintain their eligibility for assistance programs like Supplemental Security Income (SSI) and Medicaid. Since the program launched in January of 2017, over 590 accounts have opened with more than $3.5 million invested.
- College Savings Iowa reached over $5.1 billion in total assets saved and over $3.2 billion withdrawn to help families pay for higher education. Currently, there are over 247,000 funded accounts with College Savings Iowa.
- Great Iowa Treasure Hunt returned over $15 million in 2019. Since 1983, the program has returned over $272 million. If we have a name and address for unclaimed property, we’re able to return those properties to the rightful owners 70% of the time!
- We deposited over $285 million in Iowa financial institutions through Invest in Iowa online auctions. Over the course of the last seventeen years, we have earned over $43 million in interest for the state on these deposits.
We look forward to the successes of the New Year and anticipate more growth in 2020!