Millions of US workers are unknowingly losing billions of dollars in retirement savings to so-called “Safe Harbor IRAs” — accounts meant to temporarily hold small 401(k) balances but which have instead become long-term money traps, a new report warns.

A PensionBee analysis released this week using data from the Employee Research Benefit Institute (EBRI) projects that by 2030, roughly 13 million accounts worth $43 billion will sit idle in Safe Harbor IRAs, draining savings through high fees and negligible returns.

“These accounts were designed to be temporary,” said PensionBee CEO Romi Savova. 4

“In reality, most sit for years in cash-heavy products with fees that steadily erode savings.”

Under federal law, when employees leave behind small 401(k) balances — typically under $7,0

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