As job switchers chase higher wages, they may be leaving money behind. Here's what to know
Medora Lee | USA TODAY | Jan 5th, 2023
Category: Financial News
- During the pandemic, record numbers of people changed jobs.
- That heightens the risk that millions of people forgot to bring their retirement savings with them.
- The government and industry have plans to reunite those people with their lost funds.
If you quit a job, got fired, or were let go over the past few years during the pandemic, you may own one of the millions of forgotten 401(k)s holding more than $1 trillion in assets.
Help is coming, though, to reunite you with those funds.
In the final weeks of 2022, Congress passed Secure Act 2.0, which, among other things, promises to establish a national lost-and-found database for lost retirement accounts by 2025.
