Need help tracking down my Dad's 401(k)

[Joe Shlabotnik]

Believe it or not, there is someone out there older than me - my father. We moved his grumpy old ass to a new city where his wife's family lives. My sister went down the week after the move to help get him settled in. Enough background.

She was going through papers and found a letter from the Life Insurance company that bought the company he retired from. The letter is dated 1994 and states that he had a retirement annuity plus an amount in a 401(k) that had been transferred to the new company. She asked him about the 401(k) and he said 'I don't know anything about that." I'll just tell you that in his present financial situation, he better well damn care about that old 401(k).

My sister forwarded me the 1994 letter and his latest monthly statement that shows he is still getting that annuity payment - from Nationwide Insurance via an account at Fidelity and asked if I could try to track down that 401(k).

Here's what I know:

• He is still getting that annuity.
  The insurance company that sent the 1994 letter was purchased and maybe another one purchased and on and on until Nationwide obtained my father's retirement account(s?)
  My father went through a bankruptcy in the early aughts. My understanding is 401(k) are protected.

Given all that, I'm at a loss where to start other than call up the number on his Nationwide statement and ask whatever bot answers the phone about my father's old 401(k). Is there a better way to proceed? Is it possible the 401(k) was taken in the bankruptcy? Where could I find that out?

Thanks all!

[CardsofSTL]

I would think if Nationwide is the parent company that essentially owns the company that he worked for; they would have the information. Calling and asking to speak to their HR is probably the easiest first step; if they can't help then you could get deeper into it.

[Leroy]

Dog the Bounty Hunter might be available if he ever finds that twerp from Florida.

[G. Keenan]

Depending on what you hear, you may also want to check with the unclaimed property divisions of the state in which he currently resides as well as the state he was working in when that 401(k) was active. These accounts ultimately end up there if they go for a certain amount of time without anyone claiming them or communicating with the brokerage.

[sighyoung]

I agree with others above: 1) contact Nationwide's HR concerning the 401(k). Depending upon whether or not you have power of attorney, Nationwide may give you some degree of hassle because of privacy issues, although they should be able to answer general questions without it. I always had to dust off my power-of-attorney document when dealing with my dad's (then later my mom's) public-school retirement system pension and his insurance companies, but things went smoothly enough. Otherwise, if your father's still lucid, you'll have to put him on the phone, or get him to grant you permission to speak on his behalf.

Ultimately, you might be redirected to contact whatever investment firm manages Nationwide's retirement accounts (it might be Fidelity or a similar company), but Nationwide should be able to tell you this.

You may also need to contact the company that administered the plan way back when to see if they have any information.

I'd be kind of concerned if your dad hasn't touched his 401(k) (if it still exists), since you have to make mandatory annual withdrawals from it at a set age (I thought 70). The money may be a boon, but there may be some headaches lurking around it.

2) G. Keenan's idea about checking with the state's unclaimed property division is a very good idea: who knows what accounts or even unclaimed tax refunds might be sitting around?

3) If push comes to shove, annuities should be protected if your father needs to file for Medicaid at some point, but double-check that with a lawyer if you ever get that far with the Medicaid process.

This site also had some suggestions: http://www.401khelpcenter.com/faq/faq_39.html