Lost a 401(k)? Here's How to Reclaim Your Retirement Savings
Did you leave behind a 401(k) or pension when changing jobs? You're not alone. Millions of Americans have unclaimed retirement accounts waiting to be reclaimed. Fortunately, the U.S. Department of Labor (DOL) has introduced a valuable tool to make finding these accounts easier. Launched on December 29, 2024, the Retirement Savings Lost and Found Database is an innovative online resource designed to help individuals locate lost or forgotten retirement accounts. A 2018 study by the Government Accountability Office (GAO) revealed that over 25 million participants in workplace retirement plans left at least one account behind between 2004 and 2013. Many individuals may not even realize they have unclaimed accounts or might have forgotten about them over time. Here’s everything you need to know about the Retirement Savings Lost and Found Database, additional steps to reclaim your retirement account, and tips to prevent losing track of accounts in the future. ...