"Unclaimed property" is generally defined as a liability a company owes to an individual or entity when a debt remains outstanding after a certain period of time. Most unclaimed property is abandoned because of a change of address or name, or the death of the owner. Unclaimed property laws remit the unclaimed property to the custody of a government trust account until claimants come forward. Many current and former policyholders and heirs are unaware that they are entitled to unclaimed policy benefits. If insurance companies do not handle these liabilities appropriately, several consequences concerning policyholders and shareholders can occur.
According to USAspending.org, during 2015 the U.S. government will pay contractors more than $286 billion dollars. While many private U.S. companies that do business with the government are honest and law-abiding in their practices, others attempt to defraud the government, and taxpayers, out of millions of dollars by overcharging for goods and services or failing to reimburse for overages.
An employee's wages generally make up a very big part of their financial lifeblood. How much in wages they receive can impact a variety of aspects of their life such as what sorts of expenses they can take on, what sorts of things they are able to do for their family and what sorts of long-term financial goals they can realistically pursue. Thus, one of the things employees generally care greatly about is getting paid fairly for the hard work that they do. Consequently, an employee can feel very troubled when they come across things that make them suspect that their employer may be violating wage and hour laws and not paying employees as much as they should.
With an estimated population of around 65 million, individuals who make up the so-called baby boomer generation have been influential in growing the American economy and shaping U.S. culture. By the year 2029, as the last of the baby boomers turn age 65, individuals of this generation are expected to make up roughly 20 percent of the U.S. population.
Serving as the home of Wall Street, the New York Stock Exchange and several successful investment firms; New York City is widely considered the country's financial epicenter. Given this title, it's no surprise that the state's U.S. Court of Appeals has been referred to by Supreme Court Justice Harry Blackmun as the "'Mother Court' for securities law."