NEW YORK — Today, workers change jobs more frequently and may forget about money invested in 401(k) retirement plans with previous employers. The good news is that if you are one of those, that money is not lost, there are ways to find it.
A company study Capitalize in 2021 he estimated that there are more than 24.3 million forgotten 401(k) accounts.
If the company where you worked no longer exists and you do not have any document with your account number, there are other alternatives.
NerdWallet’s Melissa Lambarena explains what resources are available to us when trying to figure out how to access these “missing” funds.
“The first one they can use is to call the Human Resources Department of the previous worker or contact the plan administrator to obtain a status regarding that account,” says Lambarena. “You can also search different databases using your name or Social Security number to find out the status of your account.”
The Department of Labor has a website where you can find an abandoned 401(k) plan. Another available alternative is to search the National Register unclaimed retirement benefits using your Social Security number.
Additionally, each state maintains a list of unclaimed money. To find unclaimed funds in New Jersey, click here. New York residents may find unclaimed funds here.
To avoid losing track of such items, it is advisable to save your statements or manage them online, and always report a change of address.
