Business ProfileforTransamerica Retirement Solutions

From 2020-2022 I worked for a company called **************** **** While there they offered a 401K plan administered by Transamerica account number ************. I retired in 2022 and kept the funds with Transamerica. In March 2024 the balance was $6,580.47. I received a letter from Transamerica dated March 19, **************************************************************** the plan that they would distribute the funds. It said that if I did nothing within 60 days and my balance was between $1,000.00 and $7,000.00 that the funds would be rolled over to a Millennium Trust **** If my balance was below $1,000.00 I would receive a lump sum payment with applicable taxes withheld. I decided that I was happy with the funds going to another qualified account since my balance was in the $1,000.00 to $7000.00 range. I did not want a lump sum. My next communication with the company was the receipt of a check dated May 21, 2024-a termination claim. The check is for $5,219.37 with $1,304.84 in federal tax withheld and a TRS withdrawal fee of $75.00. This of course was counter to the terms of the letter I received. I am a retiree trying to live on a small income since my wife who was previously on my employer's health insurance is now getting insurance through the *************** Act giving us federal assistance for the monthly premiums. Per my accountant this additional income that we now must report will cost us hundreds of dollars in penalties for our premium tax credit in addition to the $75.00 fee. I have called Transamerica on several occasions and spoken to multiple people assuming they would correct their error, but to no avail. They said my original plan documents allowed them to do this. When I asked why they sent the letter promising the *** they said that it was just a "form" letter as if this excused them from doing what they promised (the letter did identify my name, account number and ******). I am getting no sympathy or offer for help from TRS.