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Treasury and counsel outline H.567: unclaimed property to bridge Vermont Saves, pension task force and VPIC oversight changes
Summary
H.567 would raise a small‑dollar unclaimed‑property threshold to $150 and allow up to $300,000 annually to be directed to the Vermont Retirement Security Fund (Vermont Saves admin) while the program scales, and it moves oversight of other post‑employment benefits (OPEB) to the Vermont Pension Investment Commission and establishes a pension funding task force.
Treasury officials and legislative counsel presented H.567 to the Ways & Means committee on Feb. 17, a multi‑section bill that combines changes to unclaimed‑property administration, retirement system enforcement and governance, and a new pension‑funding task force.
On unclaimed property and Vermont Saves: deputies described a proposal to raise the small‑dollar unclaimed‑property threshold from $100 to $150 for property more than 10 years old. Under the amendment discussed, up to $300,000 annually could be deposited into the Vermont Retirement Security Fund (the administrative account for Vermont Saves) during an initial transition period; remaining small‑dollar…
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