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How to Find a Lost Retirement Account

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30.08.2021

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At a time when many Americans are worried that they won’t have enough money to retire comfortably, thousands have lost track of billions of dollars in savings.

There are more than 24 million “forgotten” 401(k) accounts containing some $1.35 trillion in assets, according to a report from Capitalize, which helps workers roll over their retirement plans when they change jobs. Companies are also holding on to billions in unpaid pension payments earned by former employees.

The problem is so widespread that Congress is considering legislation to address it. “SECURE Act 2.0,” which includes a wide range of benefits and protections for retirement savers (see SECURE Act 2.0: 10 Ways the Proposed Law Could Change Retirement Savings), would create a national online lost-and-found database to help people........

© Kiplinger


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