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It’s estimated that Americans have $8 billion in unclaimed pension benefits each year. How is that figure so high? As it turns out, getting your hands on an old pension can be a frustrating process.

Most businesses opt to offer the 401(k) as a retirement option, rather than the traditional pension plan. However, many baby boomers have used these pension programs earlier in their careers and need to access those benefits as they reach retirement age. They are finding it impossible to do so, since many of their previous employers have merged with other companies, and HR departments have not kept their records.

In addition to the traditional pensions, it is estimated that 1,650 401(k) plans are lost each year – which amounts to over $7 billion. The Department of Labor can be a resource for finding missing retirement accounts, but often they are just turned over to the states’ agencies for abandoned property.

Find out more about this process by reading the full article from Bloomberg.