A recent report highlights a concerning trend among American workers who frequently leave their 401(k)s behind when switching jobs. Many of these forgotten retirement accounts eventually end up in “Safe Harbor IRAs,” known for their low returns and high fees, which can significantly diminish retirement savings.

By the year 2030, approximately 13 million former employees are expected to have around $43 billion in their retirement funds automatically transitioned into Safe Harbor accounts, as revealed by a PensionBee analysis using data from the Employee Benefits Research Institute. PensionBee is a platform dedicated to streamlining retirement savings by enabling users to consolidate and transfer their 401(k) plans into new IRAs.

A Safe Harbor IRA is a type of retirement account that a former employer can establish to move an employee’s 401(k) balance, especially when it’s below $7,000, and the employee has not transferred it within 30 to 60 days of leaving their job.