From the U.S. Government Accountability Office, www.gao.gov Transcript for: Unclaimed Retirement Savings Transferred to States Description: As people change jobs, it's not uncommon for workers to lose track of their retirement accounts, and retirement plans to lose track of account owners. What role do states play in trying to connect workers with their retirement accounts? Related GAO Work: GAO-19-88: Retirement Accounts: Federal Action Needed to Clarify Tax Treatment of Unclaimed 401(k) Plan Savings Transferred to States Released: February 2019 [GAO Logo comes up on the screen with a white background] [ Narrator: ] Currently, [Map of the United States appears on the screen with a piggy bank and a dollar amount that gets higher and higher] in the U.S. there are trillions of dollars in retirement saving accounts, some of which retirees never claim. As we've [the words "401K" and "IRA" come up on the screen] reported in the past, it's not uncommon for workers to lose track of their retirement accounts, or for retirement plans to lose track of account owners. Retirement savings in these accounts may come to meet a state's definition of "unclaimed" property. [Graphic of an envelope saying "unclaimed" moving towards a state capitol building] When this happens, the retirement plan service provider, or an IRA trustee, often sends the money to the state of the owner's last known address to be held until the owner claims it. [Map of the United States] People can search for their property on states' websites or a central registry. To help reunite owners with their property, some states receive help from news media coverage. [ News Clip One: ] [Clip from NBC12 in VA plays] Every year property like cash and jewels goes unclaimed here in Virginia. But we're on your side to help you find out if you have cash and valuables waiting for you to claim. [ Narrator: ] And others produce their own informational videos. [ News Clip Two: ] [An informational video from Texas plays on the screen] The Texas Comptroller's Unclaimed Property program is looking to return over four billion in unclaimed money. [ Narrator: ] To learn more about state and federal roles in managing unclaimed retirement accounts and our recommendations ["GAO-19-88" appears on the screen] for improvement, check out our report at [The words "GAO.gov" appear on the screen.] GAO.gov.