DoL Starting Database of “Lost” Retirement Savings Online Search Tool

The DoL’s Employee Benefits Security Administration is asking for help from retirement plan administrators so it can begin populating Retirement Savings Lost and Found database, an online search tool to help America’s workers locate lost retirement savings they earned. Plans can lose track of participants because workers change jobs or plans have incomplete records, turning these participants into “missing participants.” The government wants to know who they are so they can be put into a Retirement Savings Lost and Found. This online database is expected to go live on December 29, 2024. #IdeaoftheDay