I look forward to hearing from you soon. Theres a simple reason why you should attempt to recover a lost 401(k) account: Its your money. For example, a common employer match is 50%, up to the first 6% of your salary. 7. The National Registry of Unclaimed Retirement Benefits. You can search by plan name or plan sponsor. This is an online database you can use to search for an unclaimed 401(k) that you may have left with a previous employer. A national retirement registry would provide a database of information about the benefits of retirement savings and policy options for those who reach the age of 70. A traditional IRA offers the benefit of tax-deductible contributions. What if youre self-employed? Sometimes, that content may include information about products, features, or services that SoFi does not provide. Check old tax forms, Forms W-2 and other employment-related documents. 2023 Social Finance, Inc. All rights reserved. Liesel Matthews Interview 1995 "A Little Princess" star. Here's how to find and claim those long-lost accounts. Contact your former employers human resources department. Given the frequency with which the average U.S. worker changes jobs throughout his or her career (i.e., 12 times), as well as the merger and acquisition activity of the past few decades, it should not be surprising that some workers have lost track of their retirement plan assets. Secure .gov websites use HTTPS video. Techstory is a leading technology media brand profiling startups, entrepreneurs, products and breaking tech news. Many of his former employers have merged with other institutions or no longer exist. First Name. Copyright 2023by NAPA, Compliance Administrator (TPA) Evaluation, The National Association of Unclaimed Property Administrators, The National Registry of Unclaimed Retirement Benefits, Potential Private Retirement Plan Benefit Information. (link is external) is a nationwide, secure database of retirement plan account balances that have been You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice. The National Registry of Unclaimed Retirement Benefits allows individuals to check a national database for any money that they may have not received which is 7 minute read, Were here to help! Searching is simple, you can search their Encourage the use of retirement benefits by government and private organizations. 9. The materials contained herein are intended for instruction only and are not a substitute for professional advice. For example, California law requires banks, insurance companies, corporations and other institutions to submit customer property to the State Controllers Office when there has been no activity for a period of time, generally three years. But the process can be a little time consuming as it may require you to search online or make a phone call or two. The system emails employers whenever someone whose record was uploaded searches the database. Sites like MissingMoney.com, Unclaimed.org, or searching the National Registry of Unclaimed Retirement Benefits at unclaimedretirementbenefits.com Every state has some type of unclaimed property program. The benefits of the registry also include the identification of unclaimed benefits and the donation of assets to charity. The National Registry of Unclaimed Retirement Benefits allows people to apply for benefits that have been left unclaimed or lost forever to time and business. The National Registry of Unclaimed Retirement Benefits works like a missed connections service where companies register with the site to help facilitate a There may be other resources as well. Retirement Benefits | U.S. Department of Labor - DOL