Find Your Forgotten 401(k)s With Government Tool
Discover how to locate lost retirement accounts using the DOL's new Retirement Savings Lost and Found Database.
Find Your Forgotten 401(k)s With This New Government Tool
Millions of American workers have left behind retirement accounts from previous employers, often forgetting about them after changing jobs or when companies restructure. The good news is that Congress has authorized a solution. A new retirement savings lost-and-found tool helps workers find old 401(k) accounts and reconnect with forgotten benefits. Here’s what you need to know about this important resource and how to use it.
Understanding the Problem: Why Retirement Accounts Get Lost
Job switching is a major reason why workers lose track of retirement accounts. The Labor Department notes that it can be easy for employees to forget about these accounts if they don’t roll over the funds when changing positions. Workers may lose track of their retirement plans after they change jobs or after a prior employer merges with another company or goes out of business.
This widespread issue has created a significant financial problem. Between 33 and 47% of retirement plan participants cash out all or part of their retirement savings after a job change, leading to an estimated $60–$105 billion in lost savings each year. Furthermore, about 4.5% of issued retirement checks each year go uncashed, indicating that the recipients have probably lost track of their accounts. With workers holding an average of 13 different jobs during their career, the risk of forgotten accounts only increases.
Additionally, the current system for transferring retirement savings to a new employer’s plan is cumbersome. To transfer retirement savings to a new employer’s plan, a worker must first call the previous provider to request a paper check, which they then must mail to their new plan provider. This process can typically take several weeks, making it easy for accounts to slip through the cracks.
The SECURE 2.0 Act and the Birth of the Database
The SECURE 2.0 Act of 2022 established the Retirement Savings Lost & Find Database as part of comprehensive retirement-reform legislation. Congress directed the Labor Department to create a search engine for abandoned retirement accounts by December 29, 2024. The Department of Labor met that deadline, pushing its Retirement Savings Lost and Found Database live just before the end of the year.
The purpose of the database is two-fold: to allow individuals to search for the contact information of any retirement plan from which they may be owed benefits as either a participant or a beneficiary, and to allow the Department of Labor to have access to retirement plan information to assist individuals with their searches for lost retirement savings.
Tracking Down Lost Retirement Accounts
In November 2024, the Labor Department sent out a notice asking retirement plan administrators to submit accountholder records to populate its new database. The agency is also relying on information from the U.S. Department of the Treasury and the Social Security Administration to help workers track down lost retirement benefits.
To participate in the database information collection efforts, retirement plan administrators may submit names and Social Security numbers for individuals who are age 65 or older, have separated from service and may be owed a benefit from the plan. A plan fiduciary must first approve the sharing of participant information before it is submitted to the database. Plans may authorize a recordkeeper or third-party administrator to submit the requested information.
It is important to understand that retirement plan participation in the database is currently optional. While the creation of the database was mandated by law, the Department of Labor is encouraging plan administrators to submit information and promote the database as a key resource for individuals seeking any unpaid retirement benefits.
How to Find Lost Retirement Savings
The retirement savings tool is up and running at Lostandfound.dol.gov. Before you can start searching for old retirement accounts, you need to complete several important steps.
Step 1: Verify Your Identity Through Login.gov
First, you’ll need to enroll in an ID verification service through Login.gov. This is a critical security measure to protect your personal financial information. You’ll need several things to verify your identity:
- Social Security number
- Date of birth
- Legal name
- Valid email address
- A driver’s license or state-issued ID card
- A mobile phone with access to a web browser
Step 2: Access the Database
After you’ve verified your identity, return to Lostandfound.dol.gov and select the “sign in with Login.gov” button to begin your search. The process is straightforward and user-friendly, designed to be accessible for most workers.
Step 3: Review Your Results
Any matched retirement accounts will automatically display on a results page. The department will list the contact information for the plan administrator so you can contact them and collect any benefits that might be owed to you. Once you have the administrator’s contact information, you can reach out to inquire about your account balance and initiation procedures for withdrawals or rollovers.
Important Limitations of the Database
While the database represents an important step forward, there are several significant limitations to be aware of when using this tool.
Voluntary Participation by Plan Administrators
The biggest drawback at the moment is that retirement plan administrators aren’t yet required to submit this information. The Labor Department is requesting that administrators submit records and update them annually, but compliance is voluntary. This means that not all abandoned accounts may be in the database yet. Many plan administrators are still in the process of submitting their data, so the database continues to grow.
Limited Scope of Plans Included
The database only includes retirement accounts offered by private-sector employers or unions, such as pension plans and 401(k)s or 403(b)s for nonprofit workers. And the accounts must be attached to your Social Security number. Other retirement plans, like individual retirement accounts (IRAs), will not show up since they aren’t offered by employers. Public sector retirement plans and government employee pension systems are generally not included in this database.
No Guarantee of Benefits Owed
It’s important to understand that just because an account shows up in the database doesn’t mean that you’re owed any money. The database simply shows all retirement plans associated with your Social Security number. You will need to contact your retirement account administrator to confirm your unclaimed benefits and determine your exact account balance and eligibility for distributions.
Scaled-Back Initial Version
The current database is significantly scaled back from its original design, which would have included participants of all ages, beneficiary information, benefit amounts and nature (pretax/Roth), and IRA rollover details for small balance force-outs. Plan sponsors must also use a separate DOL intake portal rather than the familiar systems used for Form 5500 and 8955-SSA filings, creating additional administrative barriers.
What to Do If No Accounts Are Found
It’s quite possible that no retirement accounts will show up in your search results. If no matches are found, an error message prompts you to check back later as the database is “constantly being updated.” The database is still in its early stages and growing as more plan administrators submit their data. If you believe you should have accounts in the system, try checking back periodically as more information is added.
The Future of the Lost and Found Database
While the database has been launched, improvements are likely to follow. Experts suggest that the new administration should continue to work with the DOL, the IRS, and Congress to resolve data privacy and cybersecurity issues to expand the database to include retirement plan participants of all ages and include information from all plan administrators. A more comprehensive future version could create a portability hub that connects all retirement plan providers and allows participants to both locate their savings and easily consolidate them through a secure digital portal.
The outcome of the database will largely depend on participation by both retirement plans and individuals. Success requires proactive engagement from plan administrators to submit and maintain accurate records, as well as from workers to utilize the tool and follow up with their plan administrators.
Key Takeaways
The Retirement Savings Lost and Found Database represents a meaningful effort to help Americans recover billions in forgotten retirement benefits. While the tool has important limitations in its current form, it provides a centralized resource that didn’t exist before. Workers who have changed jobs multiple times or who lost track of previous employers’ retirement plans should take advantage of this resource. Visit Lostandfound.dol.gov, verify your identity, and search for any accounts that may be waiting for you.
Frequently Asked Questions
Q: When was the Retirement Savings Lost and Found Database launched?
A: The Department of Labor launched the database in late 2024, meeting the December 29, 2024 deadline mandated by the SECURE 2.0 Act of 2022.
Q: Do all retirement plans participate in the database?
A: No, participation by plan administrators is currently voluntary. While the database was created by law, employers aren’t required to submit participant information.
Q: Can I find my IRA in this database?
A: No, the database only includes employer-sponsored retirement plans like 401(k)s and pension plans. Individual IRAs are not included since they aren’t offered by employers.
Q: How often is the database updated?
A: Plan administrators are requested to submit and update records annually. The database is constantly being updated as new information is received from participating plan sponsors.
Q: What if the database shows an account but I don’t think I’m owed money?
A: You should contact the plan administrator listed in your search results. They can provide details about your account balance, vesting status, and any benefits that may be owed to you.
Q: Is my personal information safe when I search the database?
A: Yes, the database requires identity verification through Login.gov, a secure government service. Your information is protected by federal security standards.
Q: What states are covered by this database?
A: The database covers retirement accounts from private-sector employers and unions across all states. It includes 401(k)s, pension plans, and 403(b)s for nonprofit workers.
References
- DOL Lost & Found Database for Retirement Savings Goes Live — Spotlight on Benefits. 2025-01-10. https://spotlightonbenefits.com/2025/dol-lost-found-database-for-retirement-savings-goes-live/
- The DOL Retirement Accounts Lost and Found Database — Center for Retirement Initiatives, Georgetown University. 2024. https://cri.georgetown.edu/the-dol-retirement-accounts-lost-and-found-database/
- Find Your Forgotten 401(k)s With This New Government Tool — Money. 2024. https://money.com/lost-retirement-savings-database/
- DOL’s New Lost & Found Database: What’s True & What’s Hype — ESOP Partners. 2024. https://www.esoppartners.com/blog/dols-new-lost-found-database-whats-true-whats-hype
- Retirement Savings Lost and Found Database — U.S. Department of Labor. 2024. https://lostandfound.dol.gov
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