In 2024, more low-balance, forgotten 401(k)s and similar retirement plans could be forced into rollover accounts, which don’t benefit their owners. Here’s what to know.
As a Comerica Bank executive with more than 35 years of experience in wealth management, Lisa Featherngill knows how to handle retirement money. But when she left her previous position at Wells Fargo two years ago, she had to figure out what to do with her old 401(k) — and was as flummoxed as any other person changing jobs. “A lot of times, people don’t know where they’re going to work or if they’re eligible for the 401(k) plan at the new job,” Featherngill said. “I just didn’t want to think abo