Retirement Account Locator is designed to help individuals uncover old 401(k)s, pensions, and retirement savings plans that may have been forgotten over time. With frequent career changes, corporate mergers, and outdated contact information, it’s surprisingly easy for retirement accounts to slip through the cracks. According to industry data, the average American changes jobs 5–7 times during their working life. Each job switch increases the chances of leaving an account behind—assets that could represent thousands of dollars in unclaimed funds.

Thanks to the SECURE 2.0 Act, the U.S. Department of Labor created the Retirement Savings Lost and Found, a national database that makes it easier than ever to track down old retirement accounts. This free resource allows workers, retirees, and beneficiaries to search for abandoned plans and potentially reclaim assets that can be reinvested, rolled over, or converted into reliable retirement income streams like annuities.

Why People Lose Track of Retirement Accounts

There are several common reasons people lose access to old retirement funds:

• Job changes: Every time you switch jobs, your old 401(k) or pension may stay with your former employer’s plan administrator.
• Mergers & acquisitions: If your former employer was acquired, the plan could be transferred, making it harder to track.
• Address changes: If you moved and didn’t update your plan provider, statements may no longer reach you.
• Lack of rollover: Many people never roll over old accounts into an IRA or their new employer’s plan, leaving them scattered and forgotten.

Left unclaimed, these accounts don’t just sit idle—they can erode in value due to fees, or even be turned over to the government as abandoned property. Locating and consolidating them is critical to maximizing your retirement strategy.

How the Retirement Account Locator Works

The Department of Labor’s Lost & Found is a searchable online database. You can enter basic information about yourself or a loved one and see if any old accounts are tied to your Social Security number or name. Once identified, you can contact the plan administrator to request a rollover, distribution, or transfer into another retirement vehicle.

At Diversified Insurance Brokers, we encourage clients to make this part of their annual financial review. Identifying forgotten accounts can provide new opportunities for tax planning, annuity purchases, or funding long-term care strategies.

Why This Matters

• Average job changes: Most Americans change employers 5–7 times.
• Lost opportunities: Even a small forgotten account can grow significantly if rolled over and invested properly.
• Planning benefits: Recovered funds can be used for annuity rollovers, legacy planning, or simply to boost retirement security.

Strategies After Locating Lost Accounts

Finding the account is only the first step. The next decision is how best to use it. Options include:

• Rollover into an IRA: Consolidates assets for easier management and investment flexibility.
• Transfer to a new employer plan: Keeps funds within a tax-advantaged retirement account.
• Convert to guaranteed income: Many clients choose to roll funds into lifetime income annuities for guaranteed retirement paychecks.
• Integrate with estate planning: Accounts can be positioned for charitable giving or inheritance strategies.

Case Example

A client who had worked for three different companies over 25 years discovered nearly $80,000 in forgotten 401(k) funds through the DOL’s Lost & Found. Instead of leaving the accounts scattered, we consolidated them into a fixed indexed annuity, providing guaranteed lifetime income along with flexible withdrawal options. This transformed idle money into a cornerstone of their retirement plan.

Why Work With Diversified Insurance Brokers?

Since 1980, Diversified Insurance Brokers has helped thousands of clients identify, recover, and optimize retirement savings. Licensed nationwide and representing 75+ top-rated carriers, our advisors act as fiduciaries—always putting your best interests first. Whether your goal is to roll over forgotten accounts, purchase an annuity, or explore long-term care solutions, we’ll build a strategy tailored to your goals.

Related Pages

• Annuity Beneficiary Death Benefits
• Annuity Free Withdrawal Rules
• Group vs. Individual Life Insurance
• Convert Term to Permanent Life Insurance
• Qualified Charitable Distributions Guide