The average person has 12 jobs during the course of their career. That’s a lot of jobs — and a lot of 401(k) accounts!
Around 25 million Americans have left money behind in an old 401(k) when leaving a job. It’s possible that your current employees have missing 401(k) accounts. However, you can guide and help them with consolidating their accounts.
Help make your employees lives a little easier by sharing this useful infographic about seeking, finding and consolidating their accounts!
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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Bureau of Labor Statistics. “Number of Jobs, Labor Market Experience, and Earnings Growth: Results from a National Longitudinal Survey.” Press Release. August 22, 2019.
United States Government Accountability Office. “401(k) Plans: Greater Protections Needed for Forced Transfers and Inactive Accounts.” November 2014.