How to recover 401k from former employers?

[JamieCatheryn]

DH had a little retirement savings through a couple former employers that got bought out by other companies. He's inquired about them and was told that'd be HR's job to handle, but the old companies' HR no longer exists. How do we get it back? He also had some stock options from his job at WalMart 5 years ago that have disappeared too. Seems to me if this stuff happens all the time it's not worth throwing money away in disappearing retirement funds.

[baileyandmikey]

You can check into the state records, sometimes when companies change over and employees don't collect, they turn the money over to the state.

[milletpuff]

Do you have any old statements from the 401(k)? Or do you know who the 401(k) was set up through? Usually they are set up through a company that handles benefits, and you can contact that company directly to arrange a roll-over.

They don't generally disappear, they just get harder to find the longer you wait to deal with them

[1growingsprout]

Stock options generally have to be exercised by a certain date. The options probably have expired by now. Most options are written for 1 or maybe 2 years. As for the 401k's you should have old statments with balances on them and you should be getting statments at least yearly for tax purposes that will tell you the balance in the account, where the account is etc.
When an employee seperates from a company they usually have 60 days to decide if they are going to keep the 401k there or roll it over to a 'roll over IRA' or a new employers account.

Going back years later to locate things is difficult but it can be done. Good luck, it is going to take DH making phone calls, since DH name is on the account they cant release info to you.