Did you know that 1 in 5 Americans have inactive 401(k)s worth thousands of dollars? Don't let your hard-earned money go to waste! Here's how to reclaim yours.
How to find a lost 401(k):
1. Contact your old employer's HR department
2. Check old 401(k) statements for account details
3. Use look-up databases like the National Registry of Unclaimed Retirement Benefits or the National Association of Unclaimed Property Administrators
4. Check the Department of Labor's abandoned plan database
Once you've located your plan, you can:
-Request a direct rollover to your new employer's plan
-Transfer the funds into an existing IRA
-Cash it out (but beware of taxes and penalties)
-Investigate other safe investment options
Source/Read more here: https://www.cnbc.com/2023/08/09/1-in-5-americans-have-dormant-401k-plans-how-to-claim-yours.html?fbclid=IwAR0Ki9yViER_G44B8grIH6gzmgk3xHbqWLKyVKrEn6GkRsTwbo5lM4KrtCg
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