Trying to find people who no longer work for you, or moved and didn’t provide a forwarding address can be a daunting task.The Pension Benefit Guaranty Corporation (PBGC) may be able to help. Although the PBGC is primarily about safeguarding DB plan benefits, they said in December 2017 that they will now grant access to their missing-participant database to defined contribution plans terminating in 2018 or later, and to affected participants.
Posts Tagged ‘accounts’
How Do I Handle 401 (K)’s Of People Who No Longer Work For Me
Tuesday, June 26th, 2018Have a 401K Plan at a Former Employer?
Tuesday, April 10th, 2018
You may have had multiple jobs over your career, and left behind retirement account balances — critical building blocks for your retirement. Here’s a short guide to your options of what to do with a retirement account left with a former employer:
Roll it over to an IRA
• A rollover IRA allows you to continue any tax-deferred growth.
• A direct rollover IRA helps you avoid current taxes and early withdrawal penalties.
• You retain flexibility to select investments that fit your specific needs.
• A rollover IRA allows you to consolidate your retirement assets in one convenient place when you change jobs or
decide to retire. (more…)
