smart spending

5 tips for finding unclaimed property

Find old pension benefits
6 of 7

If you had a pension plan with a company that went out of business and you haven't heard anything about what happened to your unclaimed benefits, check the missing participants' listing of the Pension Benefit Guaranty Corp.

The PBGC is a federal corporation created to insure private employers' defined-benefit plans. Its database does not include profit-sharing and 401(k) plans.

For 401(k)s, profit-sharing plans and IRAs, you might check the website of the National Registry of Unclaimed Retirement Benefits, which offers free searches of its database.

The payoff for your search could come in the form of an annuity that your former employer bought from a private insurance firm -- money the company deposited in a bank or benefits that PBGC pays you if the company transferred its pension funds to the agency when it closed, according to the PBGC website. You may also file a claim if you are the survivor of the worker who was entitled to the benefits.




Show Bankrate's community sharing policy
          Connect with us

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

Partner Center

Connect with us