March 6, 2024
The Forgotten 401(k): How to Find It and Protect Your Retirement
Many people are unknowingly losing retirement savings when they leave jobs, as companies may liquidate 401(k) accounts with less than $5,000, resulting in penalties and taxes. To combat this, a coalition of major 401(k) plan administrators like Fidelity and Vanguard are launching a “lost and found” system called the Portability Services Network (PSN), which will automatically roll over these smaller accounts to new employers’ plans (for a small fee). However
