The Ultimate Guide: Locate Your Lost 401(k) Effortlessly
401(k) is a retirement savings plan offered by many employers in the United States. It allows employees to save money for retirement on a pre-tax basis, reducing their current taxable income. After leaving a job, it’s important to track down any old 401(k) accounts to ensure your retirement savings are on track.
There are several benefits to finding and rolling over your old 401(k) accounts. First, it simplifies your retirement savings by consolidating all of your accounts into one or two. Second, it gives you more investment options. Many 401(k) plans have limited investment options, but when you roll over your account to an IRA, you can choose from a wider range of investments. Third, it can save you money on fees. Some 401(k) plans have high fees, but IRAs typically have lower fees.