GWF dba Empower Retirement administers a 401(a) plan I had through an employer over years ago After letting this account sit dormant, I reached out to them on July to learn what my options were in moving this account elsewhere (such as rolling it into my current 401(k) or other retirement fund Apparently, my former employer gave an incorrect date of birth for me and I am unable to access my account On 7/14/16, this organization sent me a change form to have this corrected which I completed and faxed to the number they providedFor one week starting on 7/17/every fax I sent was returned due to a busy signal I called back to request a different fax number or a secure email to send my change information to For another week, I sent my information to both fax numbers every day and each day it was not accepted due to busy signals I called back on 8/1/and informed the representative that this was becoming frustrating and they needed to provide a fax that is acceptable or an email address She advised they have no secure email addresses and only accept faxes She provided a Service Request number and a specific fax number (a area code instead of 866) to send the forms I sent them once and it immediately went throughLater that day I received a call that the photocopy of my two government IDs sent to confirm the correct date of birth were not legible via the fax and that they needed a lighter copy I resent the materials to the private fax number with a lighter black/white copy on 8/ A couple of hours later, I received a call from the representative saying that the copies were actually worse and I can either keep trying to fax a legible copy or mail it inIt is hard to believe at this point that this company is attempting in any way to be customer-focused or easy to do business with In 2016, there is no excuse for refusing information via email when numerous attempts have been made unsuccessfully per their preferred method I am not interested in whose fault it is that my DOB is incorrect - I just want it fixed and this company is putting more effort into not helping me to get that done than I would ever expect I will be contacting my attorney as it would appear this company is purposefully obstructing my ability to access my account due to a simple administrative error on either their or my former employer's end Forcing to only accept faxes - no matter how many times you have tried or have been in communication with the company - and refusing to offer any alternative solution is suspicious to say the least
I would like to express my frustration regarding a simple transaction that I requested from EmpowerI have been a customer of Empower for more than years through *** ***
In January of 2016, I left *** *** to work for *** (*** *** ***)I decided to move the fund that I have from Empower to Thrift Saving Plan (TSP)The reason I needed to do this is because I had an outstanding loan with Empower and if I did not pay that loan off, I had to pay penalty and taxSo I decided to get a personal loan from outside with a high interest rate, pay the outstanding loan that I have with EmpowerThen, transfer the fund to TSP to get a loan from TSP and pay off the personal loan
Everything was going per plan until TSP returned the check issued by Empower and asked me to request from Empower to separate the after tax and before tax portion in separate checks since they cannot transfer and after tax portionIt is against Internal Revenue Code to transf
GWF dba Empower Retirement administers a 401(a) plan I had through an employer over years ago After letting this account sit dormant, I reached out to them on July to learn what my options were in moving this account elsewhere (such as rolling it into my current 401(k) or other retirement fund Apparently, my former employer gave an incorrect date of birth for me and I am unable to access my account On 7/14/16, this organization sent me a change form to have this corrected which I completed and faxed to the number they providedFor one week starting on 7/17/every fax I sent was returned due to a busy signal I called back to request a different fax number or a secure email to send my change information to For another week, I sent my information to both fax numbers every day and each day it was not accepted due to busy signals I called back on 8/1/and informed the representative that this was becoming frustrating and they needed to provide a fax that is acceptable or an email address She advised they have no secure email addresses and only accept faxes She provided a Service Request number and a specific fax number (a area code instead of 866) to send the forms I sent them once and it immediately went throughLater that day I received a call that the photocopy of my two government IDs sent to confirm the correct date of birth were not legible via the fax and that they needed a lighter copy I resent the materials to the private fax number with a lighter black/white copy on 8/ A couple of hours later, I received a call from the representative saying that the copies were actually worse and I can either keep trying to fax a legible copy or mail it inIt is hard to believe at this point that this company is attempting in any way to be customer-focused or easy to do business with In 2016, there is no excuse for refusing information via email when numerous attempts have been made unsuccessfully per their preferred method I am not interested in whose fault it is that my DOB is incorrect - I just want it fixed and this company is putting more effort into not helping me to get that done than I would ever expect I will be contacting my attorney as it would appear this company is purposefully obstructing my ability to access my account due to a simple administrative error on either their or my former employer's end Forcing to only accept faxes - no matter how many times you have tried or have been in communication with the company - and refusing to offer any alternative solution is suspicious to say the least
My son recently became employed as a life insurance agent and was reviewing my current term life insurance policyDuring this process, I had requested to obtain my current documentation regarding my policy and beneficiariesOnce I received the documentation and reviewed it, I instantly recognized certain fraudulent features of the documentationThe letter had no letterhead, no address of headquarter offices, extremely informal policy information that could barely fit a page of documentation, no record of the start or end date of my term, and no insurance agent assigned or signature which questions who was licensed to execute this transactionI am now very concerned that in the event that anything were to happen to me, I do not have a legitimate life insurance policy with an institution and that furthermore, I have been paying $54/month for the past twelve years, accumulating to over $7,to an institution that is not legitimateFor reference, my insurance policy number with them
I worked for the State of *** and was forced to use this company in regards to a 401KI finally had a new HR rep who allowed me to stop contributingOnce I resigned from ***, I requested my moneySent several faxes and tried to correct the errors which they "claimed" were wrong
I'm sorry but the State of *** proved I am a US citizenFailing to check one box on a form should not disqualify me from receiving money that is rightfully mineI faxed in forms to reflect the changes they asked which they ignoredIt was bad enough my employer lied to me and made me use a service that uses *** ***, but that is another storyI just want my money
They make this process entirely too difficult to extend the time of withdrawal allowing them to collect more feesThis is unacceptable
Trying to withdraw some of my retirement money Was suppose to be fedex'd yesterday....never was Supposedly was shipped today but fedex hasn't received itNothing but the run around and lies from this company so far I will update this if they do their job and send me MY money as agreed
I received a letter from Empower Retirement stating that a check had been mailed to me, but has not been cashedIt stated that I was to call to get a replacementI made the call and I was asked for my SS#, I asked was there another way around thatThe lady then asked for my last numbers in my SSShe asked for my birth dateShe asked for an address from years ago of where I lived and I could not give her the address that she had on fileHowever I stated to the lady, I gave you my last SS # and my date of birth, certainly that should let you know who I am, plus I got this letter at my correct addressI was then told that she needed to put me on hold and to talk to her supervisorShe then tells me I have to fill a form out updating my addressShe asked how did I want to do it, by fax, online, or by mailI said by faxShe stated that I needed to put my current address and to put on the old address spot that I did not remember my old addressI talked to this lady around
I have received a check by mail from them of $in reference of my employment with *** (months employment in 20170, check dated 03/15/2018, valid for months
I have deposited in my bank account and the check returned with the status : REFER to MAKER and I had also to pay $fee for the inconvenience
Attempted to contact Great West Trust Company and after sharing all my PII such as social security, DOB, address, dependent names and etc they do not say anything they keep asking more and more questions very deep in my PIICalled twice today and they dont say anything about this check but want to know more and more about my personal information, like my dependent names and going further on them as well
I received a so called New York Life Certificate stating I was a participant in the Sequoia Retirement Plan First of all there was no account# or the company I may have purchased this product from, when I called this business the first thing they asked for was my ss# which I wasn't about to give them They had no information about me they thought I was going to provide them with it They have an emblem saying EMPOWER RETIREMENT Your prompt response regarding this matter would be greatly appreciately Thank you
This is what I wrote on their *** page, and on ***"I am going to do everything in my power to file a complaint against you, including talking to a Lawyer and posting on all social media and Revdex.comWhen I transferred my 401k with you to another employer 401k I asked if I could continue paying on my small loan with you, and set up my bank account information to do soYour people told me I could keep the loan with empower and continue to pay, and transfer my vested balance to my new 401kOnce my vested balance was transferred, without my knowledge you closed out my account, considered the loan an offset loan distributed to myself...which now next year, I will be penalized $2,forI have spoken to everyone I can, including *** ***, who has been "Working with me" (more like lying to me) about how he can resolve this for meI don't think it's his fault but I feel like he is there to make me go awayResearch was done by him and determined, by listening to my recorded messag
My 401(k) is being managed by Empower Retirement (through my former employer)I am not receiving my quarterly statements (enrolled to receive them online) I have been in constant communication with Empower retirement since April regarding this issue They still have not been able to provide me with my quarterly statements (or even a backlog of my quarterly statements - I am missing quarterly statements dating back to Qof 2017)They promise to look into it, and every time I call I do not get a resolution or an estimated time in which my statements will be providedThis is impacting my ability to get a mortgage loan because underwriting requires FULL quarterly statements (not statements on demand that you can self generate)
My primary contact promises to call me back and never doesI have left voicemails My previous employer has tried contacting Empower Retirement on my behalf without any successThey keep getting the same runaround that I getI believe they are REQ
Steer clear of *** ***Every individual follows the same protocol: apologize profusely for the mishandling of my account, guarantee s/he is the individual that will handle the matter, provide a resolution, then simply disappearThere is no follow up, no contact to let me know where we are in the process and then my calls are not returned This has happened with different Empower employees At this point, I'm wondering if this is standard employee training
My story started in May 2017, when I received a letter that the company holding my ex-husbands 401K plan was going to be terminatedI was given options to roll it over to a new 401k, a traditional IRA or roth IRA with Empower retirement or choose a financial institute of my ownAfter speaking with an Empower employee (referred to as ***, from here on out), I chose to roll it over to a traditional IRA *** informed me I could withdraw money from this account without penalty given the specific circumstances
Through my recent former employer *** *** *** my 401K is being managed by Empower Retirement, with is a company owned by PO Box Denver, CO 80217-Due to my recent and unexpected termination from ***, I require my account to be withdrawn and transferred to my checking accountI am going through a financial hardship due to previously lower paychecks and then now no income and need money to support my family right nowI called the customer service number to expedite the withdrawal of my account and only to find that they could not help me get access to my money without requiring an unreasonable amount of steps , that I can not do right now because I am at the orientation to a new job and will be away from home for several weeksThis is the second time I called them to request the withdrawal of my moneyThey want me to fill out forms and pay for a notary , that I can not affordI understand there are taxes and penalty for withdrawing my 401k early, but I
This is the absolute worse company I have ever had to deal withThe representatives are extremely incompetent and cannot get anything rightIt all started when I left the company I was with in Aug, unfortunately that company failed to send my separation info with my new address I had given them at least two weeks before my last dayWhen I initially called to find out how to get my 401k check I was told once my separation info was received my address would be updated and a check would go outI get to my new stateI called a week later for an updateMy separation info was received but not with my new addressI'm told they could email me an address change form and would need to get it notarized in order to avoid a day holdI waited a day for that email, printed it and filled it out and paid $to get it notarizedThen paid $to fax itI called later that day to confirm my fax was receivedThe system was down and I was told to call back MondayI called back Monday and was told everything was received and to allow 2-days for the update then I could call to have my check issuedI called that WednesdayI was told my address was updated but their was a day holdI informed the rep that was wrong and everything I didAfter minutes they found all my info and I was right and they were putting in a request for my check to be sent and allow 3-business daysI called this afternoon to find out that last Thursday they put in effect that there was no way around the day hold when there is an address update and that the rep did not put the request in to send my checkAfter an hour and minutes I'm told they are overriding the day hold, the check would be created by Thursday morning and FedEx would be the method which takes usually hrs for this shipment so hopefully by Friday I'd receive it but the latest would be TuesdayI am so beyond livid and don't understand how this company is in business, they can't get anything rightUnless you want the run around, avoid this company
Deceptive business practice, dishonest customer service rep and excessive fees Very bad experience with this company!
My wife left her employer (*** *** ) on Oct17, I called Empower Retirement on Nov13, to help her roll over her 401K balance to her bank IRA CD account The customer service rep (Revdex.com does not allow me to publish his name and confirmation number) got upset with me when he heard we were moving money out and told me in a condescending tone that there was a $charge A much better choice was to open an Empower IRA accountand my wife could choose a wide range of CDs from different banks and ETFs There was no fee for the transfer because it was an internal transfer He even quoted me a couple of CD rates - month at with *** ** ***, and moth at with *** ***I confirmed three times with him that it was a no fee transfer before I went along with his proposal My mistake was I trusted Empower Retirement for being my wife's employer 401K provider Three days later when my wife received an email from Empower Brokerage, I realized he opened a brokerage IRA account for my wife, and a $roll over fee was deducted from her 401K balance Nowhere in the conversation did he mention he was opening a brokerage account for my wife We don't want a brokerage account!
To fix the mess he created, my wife requested another transfer from her brokerage account to her bank account, and $in fees was deducted form her account ($account closure, $maintenance and $wire transfer)Based on other peoples reviews and my own experience, Empower Retirement is not a company your employer should entrust their employees 401K with Write your employers human resources department and let them know Attach their Revdex.com and *** review links and the link to the news article "*** *** *** *** *** ***" - ***
Empowerment Retirement Services are the absolute worst!! I have tried for months to rollover a retirement account It is not happening--without reason or apology I have attempted to contact Tom L***, help I received an e-mail from Michael P*** (specialist correspondence)--no helpI urge businesses to avoid Empowerment for the sake of their employees!
My money ended up with this company unbeknownst to me and without my consent after it was transferred from a Merill L*** account In the months they've had my money, I lost 25% of it They claim to have sent a check to an address I haven't lived at in years, and put a day hold on my account when I updated to my current address, claiming this is for my "safety." I am currently having an emergency situation and I can't wait 2+ weeks for them to mail this check to the correct address (a check for 75% of my money they got from Merill L***, again completely without my consent) After reading some comments here and on other sites I called today to ask the day hold be overridden, even offering to come into their local office to pick up my check in person (saving me the $dollars they're going to charge to mail it to me, as well as my time and sanity) The representative on the phone put me on hold to find a manager, came back minutes later, pretended she couldn't hear me, and hung up in seconds This company is trash and I'm irate that they got a hold of my money without my permission, lost 25% of it, and won't send me the rest
Due to a catastrophic medical event in the family (spouse had a stroke) it became necessary to transfer the assets of my spouse's 401K retirement fund managed by *** *** from his account to an account in my name in accordance with a Qualified Domestic Relations Order (QDRO) issued by the Hamilton Superior Court, Case No29D02-1711-DN-signed by a judge on February Attorneys representing my spouse stated the order was sent in February and subsequent calls to *** resulted in a customer service representative stating the order "was being reviewed by their attorneys", yet another follcall in March resulted in the customer service representative stating they had not received it I personally faxed the court order to *** on March 2018, and my spouse's attorney sent the signed order to *** on March Despite my requests for expeditious service, we're now being told by *** it takes 2-weeks to process the court-ordered funds transf
company took over account, never sent notices to me until loan in "default" agents are not licensed to speak about the plan-illegal service and sales practicesnon-finra licensed individualsdid not offer any help for their errorsi am being penalized for their poor accounting and lack of communication and now its going to involve the IRS and they are taking no responsibility for their actions!!!!
I had a 401(k) account with *** ***They sent me a letter in the mail notifying me that I needed to set up a withdrawal plan for my funds prior to October 31, I had contacted them via phone on October 16, and spoke with a representative and set everything upAccording to the individual I spoke with on that day, he said everything was set to go for my funds to be withdrawn on 10/31/and mailed out to me via UPSHe told me that due to my account being 100% vested through my old employer, they did not need further information from my old employerI was given a tracking number and reference numbers for the accountI sent all necessary paperwork in on 10/16/and was sent an email saying everything was set to goToday on 10/31/18, I had not received any texts or emails regarding the issueWhen I reached out to *** *** this morning via phone, I was told my account was rolled over to *** Retirement and that I needed to contact them going forwa
GWF dba Empower Retirement administers a 401(a) plan I had through an employer over years ago After letting this account sit dormant, I reached out to them on July to learn what my options were in moving this account elsewhere (such as rolling it into my current 401(k) or other retirement fund Apparently, my former employer gave an incorrect date of birth for me and I am unable to access my account On 7/14/16, this organization sent me a change form to have this corrected which I completed and faxed to the number they providedFor one week starting on 7/17/every fax I sent was returned due to a busy signal I called back to request a different fax number or a secure email to send my change information to For another week, I sent my information to both fax numbers every day and each day it was not accepted due to busy signals I called back on 8/1/and informed the representative that this was becoming frustrating and they needed to provide a fax that is acceptable or an email address She advised they have no secure email addresses and only accept faxes She provided a Service Request number and a specific fax number (a area code instead of 866) to send the forms I sent them once and it immediately went throughLater that day I received a call that the photocopy of my two government IDs sent to confirm the correct date of birth were not legible via the fax and that they needed a lighter copy I resent the materials to the private fax number with a lighter black/white copy on 8/ A couple of hours later, I received a call from the representative saying that the copies were actually worse and I can either keep trying to fax a legible copy or mail it inIt is hard to believe at this point that this company is attempting in any way to be customer-focused or easy to do business with In 2016, there is no excuse for refusing information via email when numerous attempts have been made unsuccessfully per their preferred method I am not interested in whose fault it is that my DOB is incorrect - I just want it fixed and this company is putting more effort into not helping me to get that done than I would ever expect I will be contacting my attorney as it would appear this company is purposefully obstructing my ability to access my account due to a simple administrative error on either their or my former employer's end Forcing to only accept faxes - no matter how many times you have tried or have been in communication with the company - and refusing to offer any alternative solution is suspicious to say the least
I would like to express my frustration regarding a simple transaction that I requested from EmpowerI have been a customer of Empower for more than years through *** ***
In January of 2016, I left *** *** to work for *** (*** *** ***)I decided to move the fund that I have from Empower to Thrift Saving Plan (TSP)The reason I needed to do this is because I had an outstanding loan with Empower and if I did not pay that loan off, I had to pay penalty and taxSo I decided to get a personal loan from outside with a high interest rate, pay the outstanding loan that I have with EmpowerThen, transfer the fund to TSP to get a loan from TSP and pay off the personal loan
Everything was going per plan until TSP returned the check issued by Empower and asked me to request from Empower to separate the after tax and before tax portion in separate checks since they cannot transfer and after tax portionIt is against Internal Revenue Code to transf
GWF dba Empower Retirement administers a 401(a) plan I had through an employer over years ago After letting this account sit dormant, I reached out to them on July to learn what my options were in moving this account elsewhere (such as rolling it into my current 401(k) or other retirement fund Apparently, my former employer gave an incorrect date of birth for me and I am unable to access my account On 7/14/16, this organization sent me a change form to have this corrected which I completed and faxed to the number they providedFor one week starting on 7/17/every fax I sent was returned due to a busy signal I called back to request a different fax number or a secure email to send my change information to For another week, I sent my information to both fax numbers every day and each day it was not accepted due to busy signals I called back on 8/1/and informed the representative that this was becoming frustrating and they needed to provide a fax that is acceptable or an email address She advised they have no secure email addresses and only accept faxes She provided a Service Request number and a specific fax number (a area code instead of 866) to send the forms I sent them once and it immediately went throughLater that day I received a call that the photocopy of my two government IDs sent to confirm the correct date of birth were not legible via the fax and that they needed a lighter copy I resent the materials to the private fax number with a lighter black/white copy on 8/ A couple of hours later, I received a call from the representative saying that the copies were actually worse and I can either keep trying to fax a legible copy or mail it inIt is hard to believe at this point that this company is attempting in any way to be customer-focused or easy to do business with In 2016, there is no excuse for refusing information via email when numerous attempts have been made unsuccessfully per their preferred method I am not interested in whose fault it is that my DOB is incorrect - I just want it fixed and this company is putting more effort into not helping me to get that done than I would ever expect I will be contacting my attorney as it would appear this company is purposefully obstructing my ability to access my account due to a simple administrative error on either their or my former employer's end Forcing to only accept faxes - no matter how many times you have tried or have been in communication with the company - and refusing to offer any alternative solution is suspicious to say the least
My son recently became employed as a life insurance agent and was reviewing my current term life insurance policyDuring this process, I had requested to obtain my current documentation regarding my policy and beneficiariesOnce I received the documentation and reviewed it, I instantly recognized certain fraudulent features of the documentationThe letter had no letterhead, no address of headquarter offices, extremely informal policy information that could barely fit a page of documentation, no record of the start or end date of my term, and no insurance agent assigned or signature which questions who was licensed to execute this transactionI am now very concerned that in the event that anything were to happen to me, I do not have a legitimate life insurance policy with an institution and that furthermore, I have been paying $54/month for the past twelve years, accumulating to over $7,to an institution that is not legitimateFor reference, my insurance policy number with them
I worked for the State of *** and was forced to use this company in regards to a 401KI finally had a new HR rep who allowed me to stop contributingOnce I resigned from ***, I requested my moneySent several faxes and tried to correct the errors which they "claimed" were wrong
I'm sorry but the State of *** proved I am a US citizenFailing to check one box on a form should not disqualify me from receiving money that is rightfully mineI faxed in forms to reflect the changes they asked which they ignoredIt was bad enough my employer lied to me and made me use a service that uses *** ***, but that is another storyI just want my money
They make this process entirely too difficult to extend the time of withdrawal allowing them to collect more feesThis is unacceptable
Trying to withdraw some of my retirement money Was suppose to be fedex'd yesterday....never was Supposedly was shipped today but fedex hasn't received itNothing but the run around and lies from this company so far I will update this if they do their job and send me MY money as agreed
I received a letter from Empower Retirement stating that a check had been mailed to me, but has not been cashedIt stated that I was to call to get a replacementI made the call and I was asked for my SS#, I asked was there another way around thatThe lady then asked for my last numbers in my SSShe asked for my birth dateShe asked for an address from years ago of where I lived and I could not give her the address that she had on fileHowever I stated to the lady, I gave you my last SS # and my date of birth, certainly that should let you know who I am, plus I got this letter at my correct addressI was then told that she needed to put me on hold and to talk to her supervisorShe then tells me I have to fill a form out updating my addressShe asked how did I want to do it, by fax, online, or by mailI said by faxShe stated that I needed to put my current address and to put on the old address spot that I did not remember my old addressI talked to this lady around
I have received a check by mail from them of $in reference of my employment with *** (months employment in 20170, check dated 03/15/2018, valid for months
I have deposited in my bank account and the check returned with the status : REFER to MAKER and I had also to pay $fee for the inconvenience
Attempted to contact Great West Trust Company and after sharing all my PII such as social security, DOB, address, dependent names and etc they do not say anything they keep asking more and more questions very deep in my PIICalled twice today and they dont say anything about this check but want to know more and more about my personal information, like my dependent names and going further on them as well
I received a so called New York Life Certificate stating I was a participant in the Sequoia Retirement Plan First of all there was no account# or the company I may have purchased this product from, when I called this business the first thing they asked for was my ss# which I wasn't about to give them They had no information about me they thought I was going to provide them with it They have an emblem saying EMPOWER RETIREMENT Your prompt response regarding this matter would be greatly appreciately Thank you
This is what I wrote on their *** page, and on ***"I am going to do everything in my power to file a complaint against you, including talking to a Lawyer and posting on all social media and Revdex.comWhen I transferred my 401k with you to another employer 401k I asked if I could continue paying on my small loan with you, and set up my bank account information to do soYour people told me I could keep the loan with empower and continue to pay, and transfer my vested balance to my new 401kOnce my vested balance was transferred, without my knowledge you closed out my account, considered the loan an offset loan distributed to myself...which now next year, I will be penalized $2,forI have spoken to everyone I can, including *** ***, who has been "Working with me" (more like lying to me) about how he can resolve this for meI don't think it's his fault but I feel like he is there to make me go awayResearch was done by him and determined, by listening to my recorded messag
My 401(k) is being managed by Empower Retirement (through my former employer)I am not receiving my quarterly statements (enrolled to receive them online) I have been in constant communication with Empower retirement since April regarding this issue They still have not been able to provide me with my quarterly statements (or even a backlog of my quarterly statements - I am missing quarterly statements dating back to Qof 2017)They promise to look into it, and every time I call I do not get a resolution or an estimated time in which my statements will be providedThis is impacting my ability to get a mortgage loan because underwriting requires FULL quarterly statements (not statements on demand that you can self generate)
My primary contact promises to call me back and never doesI have left voicemails My previous employer has tried contacting Empower Retirement on my behalf without any successThey keep getting the same runaround that I getI believe they are REQ
Steer clear of *** ***Every individual follows the same protocol: apologize profusely for the mishandling of my account, guarantee s/he is the individual that will handle the matter, provide a resolution, then simply disappearThere is no follow up, no contact to let me know where we are in the process and then my calls are not returned This has happened with different Empower employees At this point, I'm wondering if this is standard employee training
My story started in May 2017, when I received a letter that the company holding my ex-husbands 401K plan was going to be terminatedI was given options to roll it over to a new 401k, a traditional IRA or roth IRA with Empower retirement or choose a financial institute of my ownAfter speaking with an Empower employee (referred to as ***, from here on out), I chose to roll it over to a traditional IRA *** informed me I could withdraw money from this account without penalty given the specific circumstances
Through my recent former employer *** *** *** my 401K is being managed by Empower Retirement, with is a company owned by PO Box Denver, CO 80217-Due to my recent and unexpected termination from ***, I require my account to be withdrawn and transferred to my checking accountI am going through a financial hardship due to previously lower paychecks and then now no income and need money to support my family right nowI called the customer service number to expedite the withdrawal of my account and only to find that they could not help me get access to my money without requiring an unreasonable amount of steps , that I can not do right now because I am at the orientation to a new job and will be away from home for several weeksThis is the second time I called them to request the withdrawal of my moneyThey want me to fill out forms and pay for a notary , that I can not affordI understand there are taxes and penalty for withdrawing my 401k early, but I
This is the absolute worse company I have ever had to deal withThe representatives are extremely incompetent and cannot get anything rightIt all started when I left the company I was with in Aug, unfortunately that company failed to send my separation info with my new address I had given them at least two weeks before my last dayWhen I initially called to find out how to get my 401k check I was told once my separation info was received my address would be updated and a check would go outI get to my new stateI called a week later for an updateMy separation info was received but not with my new addressI'm told they could email me an address change form and would need to get it notarized in order to avoid a day holdI waited a day for that email, printed it and filled it out and paid $to get it notarizedThen paid $to fax itI called later that day to confirm my fax was receivedThe system was down and I was told to call back MondayI called back Monday and was told everything was received and to allow 2-days for the update then I could call to have my check issuedI called that WednesdayI was told my address was updated but their was a day holdI informed the rep that was wrong and everything I didAfter minutes they found all my info and I was right and they were putting in a request for my check to be sent and allow 3-business daysI called this afternoon to find out that last Thursday they put in effect that there was no way around the day hold when there is an address update and that the rep did not put the request in to send my checkAfter an hour and minutes I'm told they are overriding the day hold, the check would be created by Thursday morning and FedEx would be the method which takes usually hrs for this shipment so hopefully by Friday I'd receive it but the latest would be TuesdayI am so beyond livid and don't understand how this company is in business, they can't get anything rightUnless you want the run around, avoid this company
Deceptive business practice, dishonest customer service rep and excessive fees Very bad experience with this company!
My wife left her employer (*** *** ) on Oct17, I called Empower Retirement on Nov13, to help her roll over her 401K balance to her bank IRA CD account The customer service rep (Revdex.com does not allow me to publish his name and confirmation number) got upset with me when he heard we were moving money out and told me in a condescending tone that there was a $charge A much better choice was to open an Empower IRA accountand my wife could choose a wide range of CDs from different banks and ETFs There was no fee for the transfer because it was an internal transfer He even quoted me a couple of CD rates - month at with *** ** ***, and moth at with *** ***I confirmed three times with him that it was a no fee transfer before I went along with his proposal My mistake was I trusted Empower Retirement for being my wife's employer 401K provider Three days later when my wife received an email from Empower Brokerage, I realized he opened a brokerage IRA account for my wife, and a $roll over fee was deducted from her 401K balance Nowhere in the conversation did he mention he was opening a brokerage account for my wife We don't want a brokerage account!
To fix the mess he created, my wife requested another transfer from her brokerage account to her bank account, and $in fees was deducted form her account ($account closure, $maintenance and $wire transfer)Based on other peoples reviews and my own experience, Empower Retirement is not a company your employer should entrust their employees 401K with Write your employers human resources department and let them know Attach their Revdex.com and *** review links and the link to the news article "*** *** *** *** *** ***" - ***
Empowerment Retirement Services are the absolute worst!! I have tried for months to rollover a retirement account It is not happening--without reason or apology I have attempted to contact Tom L***, help I received an e-mail from Michael P*** (specialist correspondence)--no helpI urge businesses to avoid Empowerment for the sake of their employees!
My money ended up with this company unbeknownst to me and without my consent after it was transferred from a Merill L*** account In the months they've had my money, I lost 25% of it They claim to have sent a check to an address I haven't lived at in years, and put a day hold on my account when I updated to my current address, claiming this is for my "safety." I am currently having an emergency situation and I can't wait 2+ weeks for them to mail this check to the correct address (a check for 75% of my money they got from Merill L***, again completely without my consent) After reading some comments here and on other sites I called today to ask the day hold be overridden, even offering to come into their local office to pick up my check in person (saving me the $dollars they're going to charge to mail it to me, as well as my time and sanity) The representative on the phone put me on hold to find a manager, came back minutes later, pretended she couldn't hear me, and hung up in seconds This company is trash and I'm irate that they got a hold of my money without my permission, lost 25% of it, and won't send me the rest
Due to a catastrophic medical event in the family (spouse had a stroke) it became necessary to transfer the assets of my spouse's 401K retirement fund managed by *** *** from his account to an account in my name in accordance with a Qualified Domestic Relations Order (QDRO) issued by the Hamilton Superior Court, Case No29D02-1711-DN-signed by a judge on February Attorneys representing my spouse stated the order was sent in February and subsequent calls to *** resulted in a customer service representative stating the order "was being reviewed by their attorneys", yet another follcall in March resulted in the customer service representative stating they had not received it I personally faxed the court order to *** on March 2018, and my spouse's attorney sent the signed order to *** on March Despite my requests for expeditious service, we're now being told by *** it takes 2-weeks to process the court-ordered funds transf
company took over account, never sent notices to me until loan in "default" agents are not licensed to speak about the plan-illegal service and sales practicesnon-finra licensed individualsdid not offer any help for their errorsi am being penalized for their poor accounting and lack of communication and now its going to involve the IRS and they are taking no responsibility for their actions!!!!
I had a 401(k) account with *** ***They sent me a letter in the mail notifying me that I needed to set up a withdrawal plan for my funds prior to October 31, I had contacted them via phone on October 16, and spoke with a representative and set everything upAccording to the individual I spoke with on that day, he said everything was set to go for my funds to be withdrawn on 10/31/and mailed out to me via UPSHe told me that due to my account being 100% vested through my old employer, they did not need further information from my old employerI was given a tracking number and reference numbers for the accountI sent all necessary paperwork in on 10/16/and was sent an email saying everything was set to goToday on 10/31/18, I had not received any texts or emails regarding the issueWhen I reached out to *** *** this morning via phone, I was told my account was rolled over to *** Retirement and that I needed to contact them going forwa