As we previously reported here, pursuant to the SECURE 2.0 Act, Congress directed the DOL to create a national online searchable lost and found database for retirement plan participants to help missing participants and beneficiaries find their retirement benefits. On November 18, 2024, the DOL launched the Retirement Savings Lost and Found Database (the “Database”), which is expected to become operational by December 29, 2024. The DOL has requested that retirement plan administrators, recordkeepers, and other service providers work together to voluntarily submit information to populate the Database. Once operational, individuals may search for unclaimed benefits associated with former employers.
Service providers may upload information here, and instructions for uploading information to the Database are available here in Appendix B.