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$2.4 billion dollars in unclaimed retirement funds exist, is any of it yours?

The Employee Benefit Security Administration has reported that there is over $2.4 billion in unclaimed retirement funds.

If you’re currently retired, you may want to see if there’s money you didn’t collect.

EBSA has multiple roles when it comes to American workers, and one is to find unclaimed money in abandoned accounts. They recover money from enforcement actions as well.

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They then try to reunite that money with its rightful owner.

Where are they finding these funds and how do I know if they’re mine?

The EBSA reported that they closed over 1,000 civil investigations this year.

69% ended in corrective action, which includes monetary compensation.

The biggest reason for the locating of these lost funds was that vested employees had been fired and never got that money they were owed.

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$1.9 billion in funding was found that way.

$34 million was found in voluntary fiduciary correction programs, $50.8 million in abandoned accounts, and $499.5 million from informal complaint resolutions.

One way to try and see if these funds belong to you is by searching your state for unclaimed property.

If you find that there is unclaimed property of yours, the site provides directions on how to claim it.

You may also check the National Association of Unclaimed Property Administrators.

This site allows you to search with your Social Security number and offers help with contacting your previous employer that owes you.

Related: Here are 5 ways to help save for retirement



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