Life moves fast. You change jobs, move cities, maybe even switch industries, and before you know it, your old 401(k)s and IRAs are scattered across multiple providers. Many Americans don’t know exactly where all their retirement savings are.
Tracking down old 401(k) accounts is often simpler than expected, and rolling them into a single IRA can help give you a clearer view of your total savings and more control over your retirement planning.
Learn how to find your old 401(k)s and IRAs, and how PensionBee can help you bring them all together in one place.
1. Start With What You Know
Start by gathering information on every company you’ve worked for, whether full-time, part-time, or temporary. If they offered a retirement plan, you may still have funds there. Collect any related paperwork, old pay stubs, benefits statements, or HR emails. Even just the company name and your employment dates are enough to begin the search.
PensionBee has access to records for over 300,000 employers, so you can find old accounts easily.
2. Check Your Old 401(k) or IRA Accounts
If you still have online access to a retirement account, log in and check your balance. Even inactive accounts typically display rollover options or transfer instructions.
Forgot your login? Most plan providers let you recover your account through password resets or by calling customer support.
3. Use the U.S. Department of Labor’s Abandoned Plan Search
If a former employer went out of business, use the U.S. Department of Labor’s Abandoned Plan Search tool. It helps locate old 401(k) plans and plan administrators. This tool is especially helpful for accounts that may seem lost or inactive.
4. Search Unclaimed Funds Databases
In some cases, if a 401(k) remains untouched for years, the funds may be transferred to a state’s unclaimed property office.
Each state maintains a searchable unclaimed funds database, and most allow free online searches. If you find unclaimed retirement funds, the state can help you claim them, after which you can roll the funds into a new IRA or 401(k).
5. Consolidate and Simplify Your Accounts
Once you’ve located your old retirement accounts, it’s time to decide what to do with them. You have a few options:
- Roll over to an IRA: Combining old 401(k)s into one IRA can give you a clearer view of your total savings, reduce the number of statements to manage, and help minimize unnecessary fees, giving you more control over your investments.
- Move to a new employer’s plan: If your new employer allows it, you can transfer your old 401(k) into your new 401(k) plan, keeping all your workplace retirement savings together.
- Leave it where it is: Some people choose to keep their accounts with the original provider. This can be simple, but you’ll need to track multiple accounts and fees.
- Cash out: Taking money out of your retirement accounts is generally the least favorable option due to taxes and potential penalties.
Considering these choices carefully can help you streamline your retirement planning and make the most of your savings.
6. Get Help (So You Don’t Have to Do It Alone)
If tracking down accounts sounds overwhelming, help is available. Financial advisors, online tools, and rollover platforms like PensionBee can help simplify the entire process and help you avoid costly mistakes.
