Years ago, most Americans were employed by the same company the majority of their working lives. As a result, they received a pension from their employer that they lived on throughout their remaining years. However, over the last 50 years, that trend has changed. Now, Americans switch jobs frequently, many every ten years or less. When you change jobs often, especially when you’re younger, losing track of your 401(k)s is easy. Think of all the money you may miss out on for retirement if you leave small retirement funds at several employers. Finding them is well worth your time. If you’re wondering, “Can I find my 401k with my social security number?” the answer is yes.
Conventional Paths to Finding a Lost 401(k)
Before you use your social security number, consider using more conventional paths to finding a lost 401(k).
Locate Old Statements
If you’re organized and have statements from your former 401(k) plan, you will find the plan’s administrator on the statement and can call to see how much is in your account waiting for you to claim.
Contact Your Former Employer
Another option is to contact your former employer’s HR department. You’ll need to give your full name, dates when the company employed you, and social security number. Then, the company can search their records to see if you participated in their 401(k) plan and if you have a balance.
Find Your 401k with Social Security Number
If neither of the above strategies is an option, you can find your 401k with your social security number.
The first place you can look is the National Registry of Unclaimed Retirement Benefits. This site is helpful for former employees, employers looking to connect their former employees with their funds, and estate managers and financial advisors.
I tried to find my 401k with my social security number, but as I suspected, I did not have any unclaimed accounts. However, the process was easy and took less than 30 seconds. I entered my social security number and had results immediately. Even better, this service is free.
If you would like more assistance finding and managing your abandoned 401(k) accounts, you can also use a service, Beagle, that helps you find your old 401(k). In addition, Beagle can manage your various 401(k) accounts that you may have left at different employers for a fee.
Final Thoughts
If you’re wondering, “Can I find my 401k with social security number?” the answer is yes. If you think you have abandoned 401(k) funds, take a few minutes to call your former employer or to use one of the search sites. You may be pleasantly surprised that you have money waiting to be discovered. Especially if you’re young, that forgotten money can grow thanks to compound interest and provide you yet another layer of security in your retirement, which will come quicker than you can imagine.
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Image and article originally from www.savingadvice.com. Read the original article here.