Did you switch jobs a while back but didn’t roll your old 401(K) over? And now you can’t find it? Every year, retirement plan account balances go unclaimed. You may have unknowingly left assets behind. Crazy, right? It happens more often than you may think. In fact, about 1 in 10 people have unclaimed cash or property that is currently being held by state governments and treasuries. So, how can you find your missing money? We outline some strategies for how to find your old 401(k) below.
3 Ways to Find an Old 401(k)
Search National Databases
Could it be as easy as searching an online database? The good news is, yes! You can start with online resources to help you find unclaimed property and 401(k) accounts, like The National Association of Unclaimed Property Administrators, which allows you to search by specific states. Once you’ve found your assets, claiming it can be as simple as filling out an online form.
Contact Your Old Employer
If you’re not sure where to look for your old 401(k), start with your old employer’s human resources department. Human resources should have records of where your 401(k) was managed and who to contact with questions.
Look Up an Old Statement
An old statement could provide you with key details, like account numbers and the plan administrator who oversaw your funds, to help you track down your account. Old statements might also contain contact information you can use to track down an old 401(k). From there, it should be easier to inquire further.
We Can Help
Misplacing money is never a good feeling. When you’re ready to say goodbye to your old job, don’t leave your 401(k) behind. One way to stay on top of your old and new 401(k)s is to consolidate your accounts. Working with a Farm Bureau advisor can help you keep track of your assets and discover retirement funding options to help accomplish your short and long-term goals. Talk with an advisor today.