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If you changed jobs frequently, you may have overlooked retirement accounts

New research highlights how scattered accounts complicate retirement planning

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Mark Huffman
Reporter

Mark Huffman has covered consumer issues since 2004, with a special focus on protecting and empowering older adults. A former news correspondent for the Associated Press Radio Network, Westwood One, and ConsumerAffairs, Mark brings decades of journalistic experience to RetirementLiving.com. He is passionate about giving consumers a voice and helping them make informed decisions. Mark has also created educational content, including Senior Scam Alert, a video resource designed to help seniors recognize and avoid fraud. He holds a B.A. from the University of Kentucky and lives with his family in Richmond, Virginia.

Updated:

key insights:

  • One-third of Americans say they may have lost track of retirement savings from a previous employer, according to new Empower research.
  • Younger adults report the greatest difficulty, with 50% of Gen Z and 45% of millennials saying they may have overlooked accounts.
  • Confusion and competing financial priorities keep many people from dealing with old retirement savings.

Changing employers can bring a fresh start, but retirement savings sometimes get left behind.

A new survey released by Empower found that 34% of Americans say they may have retirement savings from a former employer that they have lost track of. The retirement services and wealth management company calls the problem “retirement drift,” describing how accounts can become scattered as workers move between jobs.

The findings reflect respondents’ uncertainty about their accounts, rather than a tally of missing money.

“Changing jobs is a normal part of a career, but our financial lives don’t always transition as neatly,” said Jane Bartosik, senior vice president of Wealth Solutions at Empower.

More than half of respondents have changed employers at least three times, and 39% report having retirement savings spread across accounts from different employers. Some 54% say multiple accounts make retirement planning harder.

Younger workers face greater uncertainty

The problem appears particularly pronounced among younger adults. Half of Gen Z respondents and 45% of millennials say they may have lost track of savings from an earlier job, compared with 30% of Gen X and 14% of baby boomers.

Separately, 41% of respondents aren’t confident they could locate all their retirement savings today. That figure reaches 57% among Gen Z.

For many respondents, managing retirement accounts gets pushed aside. Some 54% say the task often falls to the bottom of their financial priorities, while 47% have delayed decisions such as a rollover because the process felt overwhelming.

Two-thirds wish someone had explained their retirement savings options when they changed jobs. More than half weren’t aware they had several options after leaving an employer.

Clearer instructions could help: 76% say guidance outlining each step would make them more likely to act, and 70% would be more willing to combine old accounts if the process took less time.

The findings come from an online survey of 2,005 U.S. adults conducted July 30–August 1, 2026, by an independent panel provider. Results were weighted to represent U.S. adults nationally.