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I have been trying to roll over my 401K since the beginning of Nov. It is now the end of January. First, they said it wasn't eligible. I told them there is no match and it was all of my deposits. Then they said I needed a form from my employer. I contacted them only to find out there was no form. Then they said they weren't sure what the problem was, so they opened a case. Then they said it will be available at 5:00 on the next day. When I called back, they said, "I don't understand why it's not available." then I received an email stating they need more information. Next, they said that they have a form that needs to be filled out. They sent me a 23-page form which I had my CPA fill out. Next, they said there was an address discrepancy. (one letter of the street) they fixed it and said the policy was the account goes on hold for 15 days after the correction. I got a confirmation email saying the address was fixed. 19 days later I called again only to be told there was an address discrepancy. I read them the email and told them it was corrected 19 days ago, and the account would be on hold for 15 days. They said they had to send it for approval. It is now 23 days after the address correction, and it is still in review. This place is a nightmare. I have never had such a poor experience with a financial institution in my life.
Recommendation: avoid this company at all cost. You are better off burying your money in the yard. At least you can get it out.
I left my employer on Nov 4th. Starting on November 5th I have been trying to roll my 401K over into my IRA. I have been unable to get this done. Today is Jan 23rd. The excuses and reasons have been too numerous to list here. I will just give you the last hold up. On December 30th, after filling out the 23-page form, I was told there was a discrepancy in my address. They fixed it and said I had to wait 15 more days. They sent me an email confirmation that my address had been corrected. On January 20th I called and they said there is discrepancy in my address. I read them the email and asked to please send me the check. I called and the recording said it is in review. There are many more excuses and reasons prior to this. I am growing frustrated beyond belief. Once this nightmare is over, I plan on taking action and complain to every agency related to the regulation of this company. I would warn anybody to steer clear of this company. The incompetence is overwhelming. I hope this nightmare ends soon.
