The Savings Game: Database may help find retirement benefits you are owed
For many years, the Pension Retirement Center (PRC), a nonprofit organization has provided services at no cost related to individual retirement plans. The center has encouraged the development of a database of information about benefits that employees are entitled to from previous retirement plans. As a result of the SECURE 2.0 Act of 2022, the Department of Labor created such a database.
If you believe you are entitled to assets in a retirement plan from prior employment, it is to your advantage to access this “lost and found” database.
Currently, the database, known as RSLF, is provided information by retirement plan administrators and authorized third parties, such as plan record keepers. The administrators should file, at least annually, but they are encouraged to file more frequently, such as quarterly.
The information filed should identify the separated vested participants who are age 65 or older and may be owed benefits. It can also contain information regarding survivor benefits.
