TMCnet News
ACS Awarded Contract to Help Texas Return More Than $1 Billion in Unclaimed PropertyDALLAS --(Business Wire)-- Affiliated Computer Services (News - Alert), Inc. (NYSE: ACS) today announced it has been awarded a contract from the Texas Comptroller of Public Accounts to increase the amount of unclaimed property the state returns to its rightful owners. To support the Comptroller's mission of finding the owners of more than $1 billion in property, the ACS (News - Alert) Unclaimed Property Clearinghouse will provide the state with management and program direction, specialized services to locate property owners, as well as supplemental claims processing and call center services under the competitively bid contract. The unclaimed assets include payroll checks, utility deposits, bank accounts, safe deposit box contents and insurance proceeds. ACS' Unclaimed Property Clearinghouse, founded in 1984, is the largest provider of unclaimed property support services to state governments, providing a full range of services to assist states in the administration of an unclaimed property program as well as unclaimed property identification, examination, collection and delivery. The Unclaimed Property Clearinghouse also manages the only state-authorized national database of lost and abandoned assets, missingmoney.com, which facilitates more than 75 million online searches for unclaimed property each year. "This is a groundbreaking effort by a state to utilize the proprietary technology and unclaimed property expertise of a non-governmental firm such as ACS to provide management and direction of an unclaimed property program," said Joseph Doherty, executive vice president and group president of ACS Government Solutions Group. "Texas is highly innovative in forming this strategic partnership with ACS to ensure that more rightful owners are reunited with their unclaimed property." To search for unclaimed property in Texas, visit https://txcpa.cpa.state.tx.us/up/Search.jsp, call (800) 654-FIND (3463) or email [email protected]. As the largest provider of business process solutions and one of the largest IT service providers to the nation's public sector, ACS serves as an operational partner to more than 1,700 government agencies on the federal, state, county and local level. The work of ACS touches millions of people every day. ACS processes more than half of the nation's child support payments; manages 24 electronic payment card programs for state and federal clients, disbursing government payments and benefits; processes nearly 570 million Medicaid claims each year totaling more than $50 billion in provider payments; saves state child care programs millions of dollars; and services student loans for more than 11 million borrowers. About ACS ACS, a global FORTUNE 500 company with approximately 74,000 people supporting client operations reaching more than 100 countries, provides business process and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Learn more about ACS at www.acs-inc.com. The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise. |
