How Can I Check My Retirement Balances through EBSA?
- Gloria Moses
- Feb 19
- 2 min read
As you get ready for retirement, remember to check with the Employee Benefit Security Administration (EBSA) under the Department of Labor (DOL) to see if you have retirement balances with previous employers. "The SECURE 2.0 Act of 2022 requires the DOL to create and maintain the Retirement Savings and Lost and Found Database to help individuals over 65 and others find retirement accounts left behind after job changes. Retirement plans often face 'missing participants' due to poor recordkeeping, job transitions, business closures, or company mergers."
If you've switched jobs during your career, you might qualify to use the Retirement Savings and Lost and Found Database if you were part of a Defined-Benefit Plan or a Defined Contribution Plan (401(k) or 403(b)) if:
You worked for a private sector employer or were part of a union sponsoring a retirement plan.
Your employer was not a governmental entity, such as a city, state, or federal agency, or a religious organization.
You qualify for retirement benefits from that employer or union.
Remember, the database only indicates whether you participated in a retirement plan(s). If your information is in the database, it will provide the name and contact details of your former employer's Plan Administrator. You should reach out to the Plan Administrator for each relevant employer to obtain specific information about your retirement plan balances, if any. Contacting your Plan Administrator(s) regarding any outstanding retirement balances owed to you should be a top priority on your list.
We hope this information is helpful. If you have any questions about insurance products for individuals 65 and over and others, please do not hesitate to contact Benefits-4-Retirees.
"If you put nothing away for retirement, I can tell you, to the last penny, how much you will have when you retire: nothing." ~ John C. Bogle
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