1 Customer Reviews
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Review from J. S.
1 star08/02/2022
If your employer hires this company to handle your 401k retirement plan, I would say run for the hills and find your own plan elsewhere. If you should lose your job and desire to get your money back from these people you will get the typical runaround of someone that wants to maximize their benefit with no concern for yours. What happened to me is when I sent the release form to my employer they sent me back an email forwarded from someone at this company saying that my request had already been signed and submitted and that I did not need their approval. Well, I called back 2 months later because I still haven't received MY MONEY and they say they have no record of any such transaction and they will have to research it. How does this company have an A+ rating? I know I cannot be the only one getting this type of treatment.
Employee Fiduciary, LLC Response
08/03/2022
On June 29, Jeffrey emailed a distribution request form to Employee Fiduciary support. The necessary plan sponsor and Third-Party Administrator (BeneTech) approvals were missing. The same day, we forwarded Jeffrey's distribution request to BeneTech for approval. According to Benetech, they requested some missing information from Jeffrey on June 30. Today (Aug 3), Benetech told us they have not received a response from Jeffrey. Tripp at Benetech told us he is following up with Jeffrey today. Yesterday (Aug 2), Jeffrey sent an email to Employee Fiduciary support that included a June 13 exchange with Raines W***** where Raines told him that Benetech had signed off on Jeffrey's distribution request. However, the distribution request we have was the one Jeffrey sent on June 29. We are sorry for Jeffrey's frustration, but we cannot process Jeffrey's distribution without the proper approval. As soon as we receive the necessary approvals from BeneTech, we will process Jeffrey's distribution request.
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