No one wants to lose money, particularly for retirement. But it happens – people lose track of, or don’t know they have, retirement accounts.
It’s surprisingly easy to do. People switch jobs, move, change names and the company or plan provider loses track of them. Or an employee can’t keep track after a company is sold or a plan is terminated. Some people don’t even know they were eligible for a pension, didn’t realize they were vested or were unaware they were automatically enrolled in a 401(k).
Sarah Skidmore Sell | Associated Press