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In summary, now you have: Maintaining multiple 401(k) plans hurts your nest egg, and there are many reasons why keeping several 401(k) plans is a bad idea. Government Accountability Office (GAO) estimates that, even without any further job changes, you would receive between 40 to 70 separate documents over a 10-year period.
When a plan administrator loses track of a participant, she may transfer the search costs and applicable penalty fees to the participant.
However, very few Americans are aware of this benefit.