House Passes Bonamici Plan to Help Protect Retirement Savings

"As employers have shifted from pension plans to retirement plans, such as 401(k)s, workers have increasingly become responsible for tracking, managing, and consolidating their retirement accounts when they change jobs," Bonamici said on the House floor. "There is no standard way for workers to consolidate their accounts, and many workers lose track of their hard-earned investments…

"The SECURE Act 2.0 includes provisions from my Retirement Savings Lost and Found Act, which will help address the challenge of tracking retirement savings. My bill creates a national lost and found registry for retirement accounts housed at the Department of Labor. The lost and found registry will provide workers with a centralized way to track their retirement accounts and help workers claim their hard-earned retirement funds, regardless of how often they transition from job to job."

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