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How to Get a 401(k) Statement?

There are a few methods on how to get 401(k) statements. Reviewing your 401(k) statement periodically can help you track your retirement progress. Knowing where to look is all you need.

3 min read

Monitoring your retirement savings is necessary to staying on track to meet your retirement goals. Keeping up to date on how your investments are performing will help ensure you'll have enough money to live off of throughout retirement. Moreover, knowing how to get 401(k) statements is essential in maintaining accurate records.

Aside from checking your 401(k) balance, gaining access to your 401(k) statement helps in many other ways. It's good practice to be up to date on your net worth. And many mortgage banks, for instance, will use your retirement funds to determine how many assets you have.

401(k) plans automatically send quarterly statements to their participants by mail. In addition, you can get your 401(k) statement by accessing your 401(k) account online and downloading your most recent statement, along with past statements for as long as you’ve been contributing to the plan.

Get 401(k) Statement in the Mail

The Department of Labor requires 401(k) plan administrators to send quarterly statements to participants of a retirement plan. This requirement allows individuals participating in an employer-sponsored 401(k) to identify any fees and keep track of how their investments are doing.

If you aren't receiving your quarterly 401(k) statements, chances are your information isn't up-to-date with your human resources department. Ensure you are opted into getting physical copies of your 401(k)s if you prefer paper copies. Also, verify your address and contact information are accurate as well. Not only will you ensure you receive future statements, but your sensitive account information isn't going into the hands of someone else.

Get 401(k) Statement Online

It's more common these days for 401(k) providers to have an online portal for their plan participants to access. Just like your online bank account, your 401(k) information can be access online as well.

All you'll need to get started is your account information, social security number, and secure login information.

Once there, you should have access to get 401(k) statements, review your investments, even reallocate your investment holdings.

Additionally, you may have the option to opt for paperless statements. Meaning, they’ll no longer mail you your 401(k) statements; you can simply print them or save them digitally right from your account.

Call Your 401(k) Provider to Send a Statement

When in doubt, contact your 401(k) administrator. Whether your human resources department manages your 401(k) or an outside firm, they will be able to answer questions on how to get 401(k) statements.

They can update your mailing address, contact information and set up an online account if your plan provides one.

Knowing where your 401(k)s are and who to talk to can be a big help in getting your statements.

Search for Old 401(k) Statements

Lastly, you may have 401(k)s with your previous employers. The fact is many Americans leave behind their 401(k)s when they change jobs, resulting in billions of dollars left unclaimed.

You will want to find your old 401(k)s and get all of the necessary information regarding those accounts.

Then, you can rollover your old 401(k)s into your current 401(k) plan or an IRA. By having all of your 401(k)s consolidated into one convenient account, you can get one statement.

It can be cumbersome to find the proper entity to handle transferring your 401(k)s. Further, the process of managing the rollover process can be meticulous. It may be worth it to have a company that will find your 401(k)s and facilitate the rollover into your account.

Don't Hesitate

However you're able to get your 401(k) statement, make sure you're keeping records as soon as possible.

In doing so, you'll ensure your sensitive retirement account information isn't ending up in the wrong hands.

Secondly, you can verify what your money is invested in and what kinds of fees you are being charged.

Remember, building a nest egg for your retirement takes more than signing up for your company's 401(k). It requires frequent monitoring and maintenance to ensure your retirement is adequately funded.