Have You Left Unclaimed Funds on the Table? Here’s How to Find Out.

Get AMBA’s tips to find money you may have lost.

Wouldn’t it be nice to have a little extra money in your savings? Even better is if it’s money you’ve already earned but forgot was yours.

You’re not alone. Lost assets have become a common and concerning trend in recent years. One report indicates that the United States has just under 30,000,000 forgotten 401k accounts that hold a staggering $1.65 trillion in assets. One reason is the increased trend and frequency of people switching jobs during their working years.

Missing out on funds you’ve earned – especially if they contain significant assets – can put your retirement at risk. Fortunately, AMBA is here with simple, straightforward suggestions for you to research and locate potential unclaimed funds.

If you think you’re potentially missing out on some retirement assets somewhere, it’s worth the time and effort to track them down. Even if it has been years or decades since you contributed to the account, the power of compounding and interest could mean your retirement assets have significantly grown over time.

Check with all previous employers

Have you held multiple jobs throughout your lifetime? Make sure you haven’t left any money behind. Follow up with your past employers. Retirement plan administrators have an array of options for locating abandoned funds in an employer-sponsored account.

There are different procedures based on the value of the account:

  • $1,000 or less: The employer can issue a check and mail it to your last known address. If you’ve moved since leaving a job, you may need to request a new check.
  • Between $1,000 and $5,000: Employers can move funds to an IRA without your consent. You’ll need to contact them and discuss how to access the account.
  • $5,000 or more: It’s likely your unclaimed funds are still in the employer’s plan. You may consider rolling over the account balance to an IRA you control.

Search your state’s unclaimed databases

One of the most common causes for unclaimed funds is people lose track of their retirement savings when they move and forget to notify past employers of their new, updated mailing address. When an employer or financial institution is unable to reach an account holder, it may turn over the account to the state’s unclaimed property office. For North Carolina, visit: www.nccash.com.

You can search for your name on the National Association of Unclaimed Property Administrators (NAUPA) website or your state-specific unclaimed property office to locate any unclaimed retirement funds that you’ve earned.

  • Check the Department of Labor’s abandoned plan database: If your past employer’s plan was terminated, DOL’s Employee Benefits Security Administration consolidates information about unclaimed benefits and simplifies tracking down missing funds.
  • Contact the Pension Benefit Guaranty Corporation: Did you lose track of a defined benefit pension plan at a previous employer? The PBGC can help. This organization is a government agency that ensures the value of pension benefits and helps individuals locate lost pension plans.

Track down forgotten IRAs

If you think you may have unclaimed funds through an abandoned IRA, take inventory of past bank and investment account statements. You can also directly contact any financial institution you’ve worked with to inquire about any inactive or dormant IRAs associated with your name.

These simple steps can help you recover the money you’ve earned during your career. With a little research, you could potentially find thousands of dollars waiting for you!

Another great way to keep money that’s yours: NCRGEA & AMBA’s Tax-Deferred Asset Protection. This is an excellent way to diversify savings and potentially earn more interest than with cash deposits or savings accounts. Advantages include tax-deferred accumulation of interest, a guaranteed competitive interest rate, multiple payout options, and a nursing home waiver. Call AMBA at 800-956-1228 or visit amba-review.com/NCRGEA.

Source: https://www.nytimes.com/2023/12/23/business/401k-rollover-retirement.html

Want to Reduce Stress? AMBA Makes It Easy with 5 Simple Tips

April is Stress Awareness Month. It’s the perfect opportunity to shed light on stress management and promote strategies for healthier living. From preparing taxes, to paying bills, to demands on our schedules, stress is something we all must deal with. Managing stress can not only simplify our lives but is vital for our wellbeing. For many, stress can affect our mental and physical health and can cause major health issues including anxiety, insomnia, and even a heart attack. However, there are effective ways to manage stress. Here are some tips to help you alleviate stress and a timely reminder of how AMBA can support your journey to reduce stress.

Quick Stress-Relief Strategies

1) Embrace Mindfulness

Incorporate meditation or mindfulness into your daily routine to help calm your mind and reduce stress. Just a few minutes can make a significant difference.

AMBA Discounts offers 15% on solu n.o.w. Tone Therapy meditation speakers. Discover for yourself the simplest way to relieve stress and anxiety, and to open to deep peace and clarity. Visit passportcorporate.com for more information.

2) Stay Physically Active

 Regular exercise is a proven stress buster. Whether it’s a walk, a cycle, or a dance class, moving your body releases endorphins, can improve your mood, and can reduce stress levels.

AMBA Discounts has great savings on many gyms and studios, including 305 Fitness, Alo Yoga, 24 Hour Fitness, and more. Check passportcorporate.com for more information.

3) Connect with Nature

Spending time outside can enhance your mood and decrease stress. Activities like walking in a park or gardening can offer a refreshing mental reset.

With AMBA Discounts, connecting with nature is easy. Get great discounts on apparel at Adidas and Sunglass Hut, gear like Garmin and Case Logic, and more. Visit passportcorporte.com for more.

4) Build Strong Social Ties

Keeping in touch with friends and family provides emotional support and helps buffer against stress. Simple acts of connection can bring immense comfort and relaxation.

Entertainment and dining out are excellent ways to bond with friends and loved ones. AMBA Discounts offers big savings on movie tickets, sporting events, and many popular restaurants. Check passportcorporate.com for more information.

5) Prioritize Quality Sleep

Good sleep is crucial for stress management. Establish a relaxing nighttime routine and strive for 7-9 hours of sleep to help your body and mind recover from daily stresses.

Getting great sleep starts with a comfortable mattress. Saatva offers high-quality handcrafted mattresses, bedding & furniture. And with AMBA Discounts, you can enjoy 10% off online purchases! Check passportcorporate.com for more information.

Simplify Your Health Concerns with NCRGEA & AMBA

Health worries, particularly about dental and vision care, can add unnecessary stress to your life. NCRGEA & AMBA offer comprehensive dental and vision policies to ease these concerns, letting you focus on enjoying life. Our plans provide peace of mind, ensuring you and your loved ones can access the care you need without the stress of out-of-pocket surprises.

Discover the benefits of securing your dental and vision coverage through NCRGEA & AMBA today. Without the worry of dental and vision health hanging over your head, you’re free to lead a happier, healthier, and stress-reduced lifestyle. Schedule your Benefits Review today at www.amba-review.com/NCRGEA or call 800-956-1228 Mon.-Fri 9am-6pm ET.

Members, if you don’t have your activation code, please call our office at 919-834-4652 or 800-356-1190.