Purpose
To provide agencies with information regarding the escheatment of uncashed payroll checks for calendar year 2015.
Affected Employees
Employees with one or more uncashed payroll checks originally issued in calendar year 2015
Background
Abandoned Property Law §102 requires that uncashed checks become abandoned property after one year.
Abandoned Property Law §1422 requires State agencies to perform certain payee notification requirements:
In accordance with Abandoned Property Law §1422, an initial outreach letter was sent to all employees with a 2015 uncashed payroll check greater than $19.99 on September 13, 2016. A second outreach letter was sent via certified mail to all employees with a 2015 uncashed payroll check greater than $999.99 on October 6, 2016 with a requested return date of October 25, 2016.
Signed outreach letters that were returned were treated as a written request for reissuance of a payroll check. If responses were received prior to January 1, 2017 the checks were reissued. Any checks, including reissued checks, that remain uncashed as of February 28, 2017 will be stopped and the funds will be sent to the NYS Office of Unclaimed Funds on March 10, 2017.
Effective Date(s)
Checks with an original issue date between January 1, 2015 and December 31, 2015
Control-D Report Available Prior to Processing
Control-D report NPAY539 (Non- Negotiated Payroll Checks) is available for agency use.
Agency Actions
Notify affected employees that stop payments will be issued for all uncashed payroll checks originally issued in 2015 and that the funds will be sent to the NYS Office of Unclaimed Funds (OUF) on March 10, 2017. Employees can visit the Unclaimed Funds - Search for Lost Money website to search for money handed over to OUF and submit a claim to recover these funds.
OSC Actions
OSC will escheat on March 10, 2017 all payroll checks originally issued in 2015 that remain uncashed as of February 28, 2017.
Questions
Agency questions may be directed to the payroll deduction mailbox. For more information regarding the escheatment schedule, see Operational Advisory 9 – Current Year Escheatment.