Retirement savings 'lost and found' helps retirees track down old 401(k)s, pensions — how it works

WASHINGTON – A staggering $2.1 trillion in retirement savings sits dormant in accounts left behind by workers who have switched jobs, creating a massive blind spot in the financial plans of millions of Americans. Now, a new federal tool is beginning to illuminate this murky landscape, helping thousands of retirees reconnect with their hard-earned nest eggs.

The Department of Labor's Retirement Savings Lost and Found Database, launched in late 2024, is showing early promise as a critical resource for older Americans. In its first full year of operation, the portal has already helped nearly 70,000 users identify a potential match for a forgotten 401(k), pension, or other workplace retirement plan.

The Big Picture: A Trillion-Dollar Trail of Lost Accounts

The modern career path is rarely linear. As workers move between employers, it's easy to lose track of retirement accounts, creating a significant and growing pool of "forgotten" money.

• The Scale of the Problem: An estimated 31.9 million 401(k) accounts, holding approximately $2.1 trillion, remain with former employers, according to 2025 research from Capitalize, a firm specializing in account rollovers.
• Why It Happens: The typical American worker holds about 13 different jobs between the ages of 18 and 58, based on long-term survey data from the Bureau of Labor Statistics. Each job change presents an opportunity for a retirement account to be left behind.
• Corporate Changes: Accounts can become difficult to trace when companies are acquired, merge with other firms, or go out of business entirely. Outdated contact information can sever the connection between a former employee and their savings.

"I always tell people to treat old retirement accounts like missing puzzle pieces," said Melissa Caro, a certified financial planner and founder of My Retirement Network in New York City. "You can't plan accurately if you don't know what you own."

The New Solution: A Federal 'Lost and Found'

Mandated by the landmark SECURE 2.0 Act of 2022, the Labor Department's database is designed to serve as a centralized, trustworthy clearinghouse for locating these orphaned accounts.

Initial data provided to CNBC by the agency shows a promising start:

• Total Searches: 236,269 unique visitors accessed the database from its launch through the end of 2025.
• Successful Matches: About 29.5% of those users—a total of 69,712 people—received a positive match, indicating a plan associated with their Social Security number was found in the system.

While the department does not track the monetary value of these matches, experts believe the results are significant.

"We may not be talking about any serious money, but of that [29.5%] who got a positive result, most of them probably found some money in an old account," said Samuel Krause, a partner specializing in employee benefits at Hall Benefits Law in Los Angeles.

The Pension Action Center at the University of Massachusetts Boston reports that its clients have used the database to find benefits ranging from monthly pension annuities of around $350 to forgotten 401(k) accounts worth as much as $20,000.

How the Database Works

The portal is designed for simplicity. A user visits the website and enters their Social Security number to initiate a search.

• What It Is: A search engine that cross-references a user's information against data submitted by private-sector retirement plan administrators.
• What It Is Not: A guarantee of funds. The Labor Department notes that a positive match confirms the existence of a plan in your name but does not confirm the account balance or your eligibility to claim benefits. The user must still contact the plan administrator for next steps.

It's also important to be aware of how employers handle small-balance accounts. If you leave a job with a balance under $7,000, your former employer may automatically roll your funds into an IRA of their choosing if you don't provide other instructions. For balances under $1,000, they may simply cash you out and mail a check.

Current Limitations and Future Expansion

While the database is a powerful new tool, its current scope is limited. This initial version was built with a specific and narrow focus.

• Age Restriction: The database currently only contains information pertaining to individuals aged 65 or older. The Labor Department stated it prioritized this group as they "are more likely to benefit sooner from a functioning database."
• Plan Exclusions: The system includes only retirement benefits from private-sector employers and unions. It does not list Individual Retirement Accounts (IRAs) or plans sponsored by government entities or certain religious organizations.
• Personal Use Only: Users can only search for accounts tied to their own Social Security number. The functionality to search on behalf of a deceased spouse or relative is not yet available, though experts anticipate this will be added in a future update.

The Labor Department has signaled its intent to broaden the database's reach. In its most recent semiannual agenda, the agency indicated it will propose new regulations governing the data it collects, which could lead to an expansion for younger workers and other use cases.

"I'm hoping an expansion will include [any age]," said Tyler Compton, director and managing attorney for the Pension Action Center.

Where Else to Search for Old Accounts

The federal database is the newest tool, but it's not the only one. If you suspect you have a lost account, a multi-pronged search can yield the best results.

• Contact Former Employers: The most direct route is often to contact the human resources or benefits department of a past employer. Even if the company was acquired, the successor firm is typically responsible for managing the old retirement plan.
• Review Old Paperwork: Search for old plan statements or benefits packages. These documents will contain the plan name and contact information for the administrator.
• Pension Benefit Guaranty Corporation (PBGC): If you had a private-sector defined benefit pension plan that was terminated, search the PBGC's database. The federal agency acts as a safety net, insuring and taking over payments for failed pension plans.
• National Registry of Unclaimed Retirement Benefits: This is a free, secure database that helps former employees find forgotten retirement accounts by connecting them with their former employers or the plan's administrator.
• State Unclaimed Property Offices: In some cases, if a plan administrator cannot locate a former employee, very small account balances may be turned over to the state's unclaimed property fund.

The Bottom Line

For decades, tracking down lost retirement accounts has been a frustrating, piecemeal effort. The Department of Labor's new database represents the first major step toward creating a centralized, national solution to a multi-trillion-dollar problem.

While still in its early stages, the tool is already providing tangible results for tens of thousands of retirees. As it expands, the Retirement Savings Lost and Found has the potential to become an indispensable resource for ensuring all Americans can access the retirement security they rightfully earned throughout their careers.