Escheatment: Don’t Let It Happen To Your Retirement Accounts!

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Michelle deBoer-Jones
Published on

When it comes to retirement savings, many investors prefer to just set it up and then forget about it so that it will continue earning interest and returns until it comes time to retire. Unfortunately, while such a practice might be good for your mental health because it keeps you from becoming worried about every little downturn in the market, setting and forgetting your account puts it at risk for escheatment.

What is escheatment?

This just means that the managing firm on the account will be required to turn it over to your state's unclaimed property fund...

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.