Company-sponsored retirement plans, such as 401k and other defined contribution plans, would be much easier to administer without missing plan participants. But with the high mobility of today’s workforce and the fact that many former employees simply forget about their retirement accounts at their previous companies-it doesn’t seem likely the problem will go away any time soon.
Businesses know about escheating unclaimed property to the states. Yet, most never think of looking for listings for their own company. Those that do often find unexpected windfalls.
Are you out of work? Underworked? Looking for something to do while social distancing?