SECURE 2.0 Law Aims to Reconnect You With Your Long-Lost 401(k)

Under a new federal law, government agencies will facilitate work on the formidable task of helping reunite millions of Americans with retirement accounts they lost by switching jobs or leaving the workforce.

The law passed late last year seeks to address the growing problem of 401(k) and other retirement plan participants who forget about those benefits or lose out on returns by cashing them out early.

Provisions in the SECURE 2.0 Act (Pub.L. 117–328) instruct the US Labor Department to establish the nation’s first government-sponsored lost-and-found database for retirement benefits and sanction portability measures that let accounts automatically ...