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USG Corporation Employees: Don’t Let Forgotten 401(k) and Pension Accounts Drain Your Retirement

'USG Corporation employees should recognize that forgotten 401(k) accounts are not just numbers left behind—they represent real retirement dollars that can be reclaimed and consolidated to bolster their financial future.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'USG Corporation employees who leave old 401(k) accounts unattended risk higher fees and missed opportunities, which is why it's wise to track and consolidate these balances into a more organized retirement portfolio.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

Why so many retirement accounts are forgotten and the risks involved.
The financial costs of leaving accounts unattended and how to locate old 401(k)s or pensions.
The options available for handling old accounts and why consolidation may matter.

The $2 Trillion Oversight in Retirement Savings: Forgotten 401(k) Accounts

The aim of retirement savings is to deliver a reliable base for the future. Yet one surprising trend continues to grow: trillions of dollars locked in 401(k) accounts that have been forgotten or left behind. According to recent research, there are about 31.9 million forgotten or left-behind 401(k) accounts, collectively holding roughly $2.1 trillion in assets. ¹ That number is up 30% since just two years ago, and has almost doubled over the past decade. ¹

On average, a forgotten 401(k) account holds about $66,691. ¹ So how do these accounts get forgotten? After leaving a job, many workers leave their 401(k) assets inside their previous employer's retirement plan. For those who move on from USG Corporation or other large employers, letting these balances rest unattended can incur long-term opportunity costs.

Why Retirement Accounts Get Forgotten

It might seem far-fetched to lose track of retirement money, but greater job mobility has made it much more common. Workers shift roles or employers more often today than in the past, and each change introduces a decision point on how to handle retirement balances. Some leave assets with previous employers; others roll them into IRAs or into new employer plans.

It’s not always problematic to leave funds in an older plan. But without regular attention, complications may arise. Many employers cease covering plan administrative costs when an employee departs, which can slowly erode the account. Maintaining multiple accounts can also result in higher overall management fees, less oversight over retirement assets, and missed growth potential. For those with long tenures, especially in large corporations, forgotten accounts often consequently silently diminish in value.

The Cost of Inattention

When accounts are left unmanaged, investment choices made years ago may no longer match your situation or current market conditions. Portfolios set long ago might underperform relative to better-aligned allocations today. Over time, fees, a lack of rebalancing, and outdated allocation strategies can shrink balances.

Federal regulators are aware of the problem. Tools like the Retirement Savings Lost and Found Database ² have been launched to help workers trace and reclaim forgotten retirement account balances. This applies to all workers, including those exiting major corporations, since even meticulous savers may inadvertently leave funds behind.

How to Locate Forgotten 401(k)s and Pensions

Tracing down old retirement accounts may require using multiple resources:

1. Unclaimed Retirement Benefits National Registry – Search by Social Security number for unclaimed balances.
2. Pension Benefit Guaranty Corporation (PBGC) – Tracks discontinued pension plans and missing participants.
3. Former Employer or HR Departments – Companies or their successors may retain records.
4. Historical Records – W-2s, benefit statements, or plan summaries often contain clues.
5. Department of Labor’s Form 5500 Database – Lists plan administrators and contact information.
6. State Retirement Boards – For public-sector pension plans.
7. U.S. Department of Labor Help Line – Offers guidance on ERISA-regulated plans.

For employees who have changed divisions, sites, or roles within large firms, these steps help consolidate scattered retirement holdings.

Your Options for Old Accounts

When departing from a job, most workers face four main choices for handling their 401(k):

Move it to a new employer’s retirement plan — consolidates balances and keeps tax treatment intact.
Rollover into an IRA — gives broader investment flexibility, often at lower cost.
Cash it out — comes with taxes and penalties, reducing long-term results.
Leave it with the old employer’s plan — keeps the account open, but no new contributions or employer matches apply, and fees may escalate.

For those nearing retirement, making a considered choice can determine whether past balances continue contributing or quietly decline.

Why Consolidation Matters

Many financial advisors recommend combining accounts when feasible. Consolidation reduces administrative burdens, simplifies oversight, and aligns portfolios more consistently. Having multiple accounts across former employers increases complexity—especially during required minimum distribution (RMD) years.

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To further complicate matters, research suggests that inactive accounts often lag in performance, facing higher fees and fewer investment options. ¹ For someone with a long USG Corporation career plus various other roles, consolidation can help maintain coherence across retirement holdings.

The Modern Rollover Advantage

Historically, rollovers involved paperwork, delays, and mailed checks. Today, electronic direct rollovers can transfer funds from one retirement plan to another—or into an IRA—without triggering taxes or penalties. That streamlines the process dramatically.

This means professionals leaving large firms no longer need to dread the complexity of combining accounts. With modern rollover tools, managing retirement assets is more accessible than ever.

The Bigger Picture

Forgotten accounts reflect how job changes and corporate shifts complicate retirement planning. Nationally, more than $2.1 trillion sits in dormant accounts, and neglecting them may cost individuals hundreds of thousands of dollars over their careers. ¹

USG Corporation employees may risk underutilizing retirement balances if they omit to manage legacy accounts. But with available tools, consolidation, and ongoing oversight, those dormant assets can once again contribute meaningfully to retirement readiness.

Final Thoughts

The trillions in neglected 401(k)s highlight a significant gap in retirement planning. While retaining assets in a prior employer’s plan is permissible, it often comes with higher costs and less visibility. Fortunately, resources—like government registries and streamlined rollovers—make it easier to recover and consolidate past accounts.

For USG Corporation employees, the takeaway is simple: don’t let forgotten balances slip away. With attention and action, those legacy accounts can become active components in a more cohesive retirement approach.

Sources:

1. Capitalize Money, Inc. ' The True Cost of Forgotten 401(k) Accounts ,' Sept. 30, 2025.

2. U.S. Department of Labor, Employee Benefits Security Administration. Retirement Savings Lost and Found Database . 18 Nov. 2024.

How does the retirement plan structure at USG Corporation impact both final average earnings participants and cash balance participants, especially regarding their eligibility and benefits accrued over time? In what ways does the differentiation between these two categories influence the retirement outcomes for employees of USG Corporation?

Retirement Plan Structure: USG Corporation's retirement plan differentiates between Final Average Earnings Participants and Cash Balance Participants. Final Average Earnings participants, who joined before January 1, 2011, accrue benefits based on their final average earnings and years of service, which can result in higher benefits for longer-serving employees. Cash Balance participants, who joined after January 1, 2011, have their benefits calculated based on a cash balance account, which grows with contributions and interest credits. These differences affect retirement outcomes, as Final Average Earnings participants may see higher pension payments if they have longer service or higher wages, while Cash Balance participants have more predictable but potentially lower benefits based on their account balance(USG Corporation_Retirem…).

USG Corporation's Retirement Plan allows for different age-specific rules regarding early retirement. How do the "Rule of 90" and "Rule of 82" affect the financial planning of employees considering an early retirement option, and what should they consider regarding their long-term financial security?

Rule of 90 and Rule of 82: The "Rule of 90" allows employees to retire early without a reduction in benefits if their age plus years of service total 90, provided they retire at or after age 62. The "Rule of 82" permits early retirement with reduced benefits for those whose age and years of service total 82. Employees planning early retirement must consider these rules as they directly affect the amount of benefits they receive, making it important to assess how long-term financial security will be impacted, especially if they retire before age 62(USG Corporation_Retirem…).

Could you elaborate on the process through which employees at USG Corporation can change their beneficiaries within the retirement plan? What steps need to be taken, and what are the implications of these changes on the benefits received upon the participant's death?

Changing Beneficiaries: To change beneficiaries, USG Corporation employees must contact Your Benefits Resources™, where they can designate a primary and contingent beneficiary. If married, the spouse must provide notarized consent to name a different primary beneficiary. The process involves completing a form, and any changes affect who receives benefits upon the participant's death. Failing to update the beneficiary could result in benefits being paid to unintended individuals(USG Corporation_Retirem…).

As part of the retirement process at USG Corporation, how are pensionable earnings calculated? What factors are included in this determination, and how might they vary among different employees based on their roles within the organization?

Pensionable Earnings Calculation: Pensionable earnings at USG Corporation include regular pay, shift differentials, and bonuses but exclude items like nonqualified deferred compensation, severance, and stock awards. These earnings are used to calculate benefits based on formulas that take into account an employee’s service years and earnings over the 36 highest consecutive months of the last 15 years of participation(USG Corporation_Retirem…).

How does the automatic enrollment in the USG Corporation Retirement Plan work, and what options do employees have if they initially chose not to participate? What implications might this have for their retirement savings strategy?

Automatic Enrollment and Opting In: Employees at USG Corporation are automatically enrolled in the retirement plan unless they choose to opt out. If employees decide not to participate initially, they can enroll later by contacting Your Benefits Resources™. Failure to participate from the start could result in lower retirement savings due to fewer years of contributions(USG Corporation_Retirem…).

In the context of USG Corporation, what are the potential tax consequences for employees withdrawing their retirement benefits, especially regarding the mandatory withholdings? How might employees effectively manage these tax liabilities when planning for retirement?

Tax Consequences of Withdrawals: Employees withdrawing their retirement benefits from USG Corporation will face mandatory federal income tax withholdings, typically 20% for lump sum distributions, unless the distribution is rolled over into an IRA. Employees must plan for these taxes when withdrawing to avoid unexpected liabilities and ensure they maximize their after-tax retirement income(USG Corporation_Retirem…).

How do employees at USG Corporation access the necessary documents related to their retirement benefits, and what is the process for obtaining copies of these documents if needed? What are the responsibilities of the Plan Administrator in this process?

Accessing Retirement Documents: Employees can access documents related to their retirement benefits through Your Benefits Resources™ online or via phone. If additional copies are needed, employees can request them from the Plan Administrator for a small fee. The Plan Administrator oversees ensuring these documents are provided to participants as required by ERISA(USG Corporation_Retirem…).

What unique provisions exist for USG Corporation employees who experience a break in service? How do these provisions impact their accumulated benefit service and overall benefits upon reemployment?

Break in Service Provisions: USG Corporation allows employees who experience a break in service to retain their accumulated benefits if they are reemployed within one year. If reemployed after one year, their previous service may not count toward future benefits unless they were vested prior to termination. This can affect the total benefits an employee accrues if they leave and later return(USG Corporation_Retirem…).

What options do employees of USG Corporation have for managing their benefits if they return to work after retirement? How does this affect their pension benefits and the overall strategy for maximizing retirement income?

Returning to Work After Retirement: Employees returning to work after retirement at USG Corporation will have their pension payments suspended and recalculated based on additional years of service. This recalculation takes into account prior payments, meaning employees should consider the impact of returning to work on their long-term pension strategy(USG Corporation_Retirem…)(USG Corporation_Retirem…).

How can employees of USG Corporation contact their Benefits Resourcesâ„¢ for more information on their retirement plan options? Are there specific channels preferred for different types of inquiries, and what resources are available to assist them?

Contacting Benefits Resources™: Employees can contact Your Benefits Resources™ via the web or a toll-free number to inquire about retirement plan options. Different inquiries, such as changes to beneficiaries or requesting benefit estimates, can be handled through these channels. Resources such as detailed benefit estimates are available to help employees plan for retirement(USG Corporation_Retirem…).