Reviews

Zero stars. If you have any money in TransAmerica for retirement, watch your account. ********************** over the last couple of years incorrectly issued me *** checks because they miss typed my birthday. After two years of them trying to fix this, I was able to jump through all their hoops and baby sit the process. Well at least I hope it's fixed they have been telling me that for two years. Here is the big problem, I immediately called them about the *** checks and they voided them. Last week I noticed that over the last couple of years they have not put the money back in my account for the voided checks. It gets better, I asked them where the money went and after being bounced around, a TransAmerica representative told me that they sent MY MONEY out of MY 401K ACCOUNT back to the company that I used to work for 40 years ago. I'm not sure the company exists as I cannot find them. They told me they sent a request to the company to get my money back. They stole my money and I'm still trying to get it back. They even tried to correct me and say they didn't steal my money; they just gave it to someone else. They should change their name to ***** ****, except I'm not rich and my past employer who owned the company was mega rich. I'm trying to roll my money over to Fidelity and so far, that has not gone well as I'm still waiting for the check from TransAmerica. Told it would take a week and it's been two with no status updates. It's important to note I've called them no less than a dozen times to get updates and they keep telling me that they are sending messages to various departments fix the same problem over and over again.

The experience I have had with my rollover out of Transamerica to a new account with Fidelity has been a nightmare. You would think this is a simple, efficient process since this type of thing happens all the time when people change employers, but it seems like Transamerica has been left in the past. When it comes to proper communication, documentation, and handling of funds, I was not happy with how my situation was handled at all. It took over four months to get an answer on why my rollover request was not being processed. I have spoken to over 5 different customer service reps from **********************, all with varying levels of care and attention to detail. The worst was an *******, who literally said "Let me check the notes on your account... Oh, that's a lot to read... that is like an essay, I'm not going to read that." This unprofessionalism and lack of care was disturbing when I was obviously trying to get answers about my retirement funds and the status of my rollover. I will say that I had a couple calls with very helpful folks but the overall confusion and wild goose chase I had to go on to get a simple answer was incredibly frustrating and I urge Transamerica to do better, especially when dealing with people's hard-earned money. I have yet to see a successful rollover happen and am losing hope for this to be solved anytime soon.

Transamerica is a total scam supported by the government and the employer. Your money is locked until your age is hit 55. You can loan from them your own money, but they will charge you 11% APR + service fees, loan fees, and charge fees, this sums up around 20% APR which is crazy and unfair. I can apply for a personal loan via bank and get much lower rate. Unfortunately, Transamerica 401k is not something that you can choose from and if you have a choice, don't go with them.

I was recently informed by SSA I had $531, I did a withdrawal in November 2023, in hopes of getting a check before Xmas, it has been one lie after the next, they said they sent a check on November 30th, I called Transamerica and told them to reissue the check, I haven't got a check, I received a retirement statement, the money was deducted, this company is fraudulent, do not invest your money.

Run do not invest in this company, you cant nake changes for three years noone explain the huden clauses

Zero stars should would be better option.1) Fees are terribly high and very complicated. I spend whole day to understand it with their customer ********** Cannot do rollover online. You need to send forms by mail.

If you put money into an account with these people good luck ever getting it out! BEWARE! Yeah ALL the reviews can't be lying!

Horrible!!! Do not invest your money with this company!! Or 401K if you ever have a hardship and need to withdraw your money they make it impossible to do so! Not only that the process itself takes more than one month. They give you the round around and your balance seem to get lesser than expected. Good luck!

I had something like $800-$1000 dollars in my account with them the last time I checked from ***** 3.5 years ago. Today, I logged in to withdraw whatever remained, but they drained it down to $0 before I could get a dime.

They wrongfully kept $85.97 after I had closed out my account. I made repeated requests to them to reimburse me the said amount but they have done so.