Did you know that 1 in 5 Americans have inactive 401(k)s worth thousands of dollars?
Don’t let your hard-earned money go to waste! Here’s how to reclaim yours.
How to find a lost 401(k):
- Contact your old employer’s HR department
- Check old 401(k) statements for account details
- Use look-up databases like the National Registry of Unclaimed Retirement Benefits or the National Association of Unclaimed Property Administrators
4. Check the Department of Labor’s abandoned plan database
- Once you’ve located your plan, you can do on of the following:
- Request a direct rollover to your new employer’s plan
- Transfer the funds into an existing IRA (Consider an Azzad IRA for riba-free, halal investment options)
- Cash it out (but beware of taxes and penalties)
Talk to an Azzad advisor today to discuss your options.
