About Automatic Rollover IRAs
Employers who sponsor a retirement plan for their employees may find themselves in a position where a terminated employee cannot be located. Without the participant's election, the employee funds cannot be distributed unless the funds are transferred to an Automatic Rollover IRA.
Missing participants are individuals that had an account in an employer sponsored retirement plan and the employer does not have current contact information after the individual terminated employment. If that is your situation, then your account balance from the previous employer’s plan has been rolled into an Automatic Rollover IRA.