How to Find Lost 401K

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There are cases where people have changed jobs or lost their job and somewhere along the way they lost track of their 401k. Now it isn’t always easy, but there are ways to find lost 401ks.

1. If you changed your job or you lost your 401k:

  • It is best that you contact your former employer and ask about the broker of the company that they entrusted your 401k to.
  • If you know the broker or the company that your employer hired, then you can directly contact them and ask for the necessary adjustments that you need to take in order for you to continue your 401k.
  • If you lost your job, then you should contact your former employer in order to be able to have him/her sign up for the release and to inform the broker. To go directly to the employer will be less of a hassle on your part.

2. In the case that your previous employer or your former company merged with another company or they have simply stopped their operation:

  • If your previous company merged with other companie(s), this does not mean that your contributions for your 401k plan disappeared. Your contribution is still active and all you need to do is make sure that you trace it back and place it to where you can easily access it again.
  • What you can do when your previous company changed its name or merged with another company is to contact the HR department and ask them with regard to the 401k plans the previous employees applied to. They keep the records of these and they will be able to assist you about it.
  • Even if your previous company declared bankruptcy or is simply not operating anymore, then you still have hope to contact the persons in charge or the broker or company in charge of your 401k plan. If you have the statement of account for your 401k plan, then you can directly contact the broker or the companies involved and inform them of the changes that you want to have done.
  • Remember that your 401k did not disappear, but it simply needs to be found and it needs to be put in the right place again.

3. If you have no luck in finding your former employer or the company that you worked for previously, then what you should do is go to the Pension Benefit Guaranty Corporation (PBGC). This is the place for you to find that lost 401k. This corporation keeps a computerized list of individuals entitled for pension plans in their respective locations. Through this list, you can look for a name and find a location.

4. If you find no luck from the PBGC, then you should try the Employee Benefits Security Administration (EBSA). They will look for your Tax ID for the plan. But bear in mind that if the company has not operated for more than 6 years, then their records may not be found in  the EBSA. If  the EBSA still cannot help you find the information you want to find for your lost 401k, then you can try to take a look at the free booklet of “Finding a Lost Pension” from the Pension Benefit Guaranty Corporation. If there is a will then there will be a way to find your lost 401k.

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Comments

2 Responses to “How to Find Lost 401K”

  1. Laurie Armida on July 10th, 2008 6:01 am

    I lost track of an old 401k . valued at the time of my depature from employer it was worth over 4000.00. This was twenty years ago.I never cashed it out or rolled it over. I had recently been making my will due to a life threatening illness.When it came to my assets information, I then contacted my former employer’s corporate office for information in regards to my 401k. I gave them all information from when I worked there, my employee id number, my social security number and any information I recalled.My former employer was not helpful as to locating my 401k assets. I do know that GOODWIN Financial was the plan administrator at that time and date.but since they have changed to FIDELITY. I also contacted GOODWIN twice for help. But they won’t reply back. I’ve done the searches online with no luck. Should I contact The Dept of Labor?

  2. admin on July 10th, 2008 8:29 am

    Hey Laurie,

    Have you tried the PBGC and the EBSA? Did you call goodwin directly or e-mail them? You’ll never get a response through e-mail. If all else fails, you can try the labor board.

    Best of luck

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