There are about 15 million such accounts in the United States and more might be coming. If you’ve got one of these accounts languishing somewhere, note that more employers are charging maintenance fees ranging from a few dollars to more than $100 a year. [How to Use ETFs in Retirement.]
If you’re looking to move an account, cashing out is a bad idea – you’ll get socked with hefty penalties if you’re below a certain age. Instead, consider a plan that invests in ETFs for your retirement.
For more stories about retirement, visit our retirement category.
Tisha Guerrero contributed to this article.