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The Government Wants to Help You Find Your Missing 401(k)

March 9, 2018, 1:58 PM

As Americans worry about being able to afford retirement, billions in unclaimed retirement funds sit neglected in lost or forgotten accounts.

Regulators and politicians are pushing retirement plan sponsors, as fiduciaries, to work harder to find plan participants who are due benefits. The latest move comes in the Retirement Savings Lost and Found Act of 2018, legislation reintroduced on March 2 by Democratic Senator Elizabeth Warren of Massachusetts and Republican Senator Steve Daines of Montana. The legislation would create an Office of Retirement Savings Lost and Found to serve as a clearinghouse for retirement plan information and require employers...

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