Treasurer presents H.567 to speed small unclaimed-property claims, fund Vermont Saves and shift OPEB oversight

Vermont Treasurer Picek on Jan. 9 told the House Government Operations & Military Affairs committee that H.567 would ease procedures for small unclaimed‑property claims, provide temporary funding for the state’s auto‑IRA program Vermont Saves, and move management of other post‑employment benefit (OPEB) trust investments to the Vermont Pension Investment Commission (VPIC).

Picek said the bill groups changes: the first five sections amend unclaimed‑property law, later sections address retirement system governance and OPEB, and section 24 requests three full‑time positions—two for unclaimed property and one policy and research manager for the retirement division. “We have about $150,000,000 in unclaimed property,” he said, noting the office returned about $9.8 million to Vermonters last year while processing a rising volume of claims.

Why it matters: the proposed changes aim to speed payments and reduce administrative burden for low‑value claims, make it easier to reunite medical reimbursement money with the correct patient, shore up the nascent Vermont Saves program until it becomes self‑sustaining, and consolidate OPEB investment oversight with VPIC as those funds grow.

Unclaimed property and small‑claims thresholds Picek told the committee claims have climbed from roughly 18,000 a year to about 32,000, creating significant verification work for a small…