Reviews

Review Details

• Review fromBrian R

  Date: 04/24/2025

  1 star
  All they do is run you in policy circles so you never have access to your money!!

• Review fromCarol P

  Date: 03/18/2025

  1 star

  Carol P

  Date: 03/18/2025

  Retirement Clearing House (RCH) mailed an ********************* dated 12/31/24, showing market value of $78.63, after dividends and fees. This is the first time I received a statement. I called RCH talked to Summer, she collected my last four digits of SS, zip code, middle initial, date of birth and full address "to verify my account". I mentioned that seemed like too much information. She asked if I "wanted to add more info to my account." I told her I wanted to close my account. The line went dead. I then talked to ********. She asked for all that info, and also wanted my email and phone number, I declined since I was closing. I told ******** I thought I transferred my previous employer 401K back in 2012. If there was any residual dividend, that should have been transferred. I wanted to be right-sized, meaning I want to know what my original amount was and have that sent to me. ******** said "this is a settlement transferred to them on 03/03/23 of $145.77. That I received a welcome package and annual reports." I told her I did not receive them or I would have cashed out. I requested a check and fees to be reversed, the $30 fee to close waived. She said neither is allowed. As it stands; no taxes will be taken, once closed cannot be reversed, will send an email, 7-10 business days, if not received call after 14 days, $30 and fees will be *********** rectify, I want documentation on where this money came from, why this residual was not forwarded to my 401K which is standard practice. For this error I want to be right-sized, (all fees and costs) reversed. Funds sent to me by check.This may be a small amount now, but I have no clue what the beginning balance was. I wonder how many others have experienced this with their originating 401K, and RCH. Taken in the aggregate, this churning dividends and taking fees, perpetuating, can add up to quite a sum of money.I think this is something BBB and the Attorney General should review.

  Retirement Clearinghouse, LLC

  Date: 03/24/2025

  We were able to connect with Ms. ******* this morning and explain the source of this account and why it was sent to RCH and not her previous 401(k). As a gesture of good will, we also agreed to reimburse Ms. ******* her $30 distribution fee. She seemed satisfied with our response to this complaint.

• Review fromDerek N

  Date: 03/17/2025

  1 star

  Derek N

  Date: 03/17/2025

  Horrible I should have known by all the other horrible comments what to expect.. I received letter by mail after closing my account on Feb 27th and already having it confirmed online that my account closure was completed waited over 2 weeks when I was told 10 business days. Its past 10 business so I call and ask whats going on. I was told the check was mailed on the 28th so I should have definitely received my check by now.. this isnt a little check its $4,000.00 of my own money I put into my account. Not to mention I was charged over $300 just to withdraw my money.. I spoke to a lady who told me I should have already received it and she will send me a form to cancel and re-issue a new check. She hangs up and an hour goes by. No email. Finally for an hour I get one and guess what the link doesnt work at all. I call again and get a very nice lady name ***** who helps me out. Sends me the form. Link still doesnt work, but she helped me out and had me send it to her email so she can foward it. Sat on the phone with her for over 45 mins waiting for a confirmation from who she sent it to and she never got an answer back so now I have to hope it went through okay smh.. why when Im literally 2hrs away from the office where its sent from does it take over ten days and still not arrive.. why do I have to wait for my own money?!?!??? They should offer direct deposit with how poorly they handle sending out paper checks. You figure after the over bearing amount of negative reviews they would get it together and have it done correctly, but now still giving people the same issues smh. This is money I could really use I have 4 kids to take care of and this was money that I put well more into than my company matched..

  Retirement Clearinghouse, LLC

  Date: 03/18/2025

  We are sorry to hear that Mr. ****** distribution check has not yet been received. I've asked one of our managers to review his account and make sure we have what we need to reissue him the check and reach out to him directly as needed. We agree with Mr. ****** suggestion, and *** will be begin offering Direct Deposit in May of this year once the technology work is completed. The distribution fee that Mr. **** was charged was $15, plus he paid $2 for holding his account here for one month. The statement that we charged over $300 is incorrect. We are proud of having the lowest fees among Automatic Rollover providers.

• Review fromD. S.

  Date: 02/25/2025

  1 star

  D. S.

  Date: 02/25/2025

  Retirement Clearinghouse was sent a piece of my 401k that should have been rolled over, but instead wasn't and was contributed to an *** at Retirement Clearinghouse. They immediately started charging fees, then wanted more money to close the account and roll the money out. It was a small amount, just less than $10, but when everything was done, RC kept 60% of that money. It's owned by a very wealthy African American named ****** J. *******, what a pile of c*** This shouldn't be allowed, they basically take your money and you have no recourse.

  Retirement Clearinghouse, LLC

  Date: 02/26/2025

  Mr. ******* was a participant in the *********** Plan, which was record kept by ********. Prior to this account being sent to **********************, he was notified by ******** that he needed to take action on his account since the balance was less than $7,000 to avoid being forced out of the *********** Plan. Since Mr. ******* did not respond to this request, his account balance of $9.89 was sent to Retirement Clearinghouse on 2/7/2025. Unlike most companies in our industry, we only charged Mr. ******* for one month instead of one year. We also prorated his distribution fee significantly. While Mr. ******* may disagree with fees being charged, Retirement Clearinghouse had to establish an account, execute a purchase and redemption in a security, provide him call center support, and issue a check. We are also responsible for sending a 5498 and a 1099 tax form next year as well as an annual statement. We are providing these services to Mr. ******* for less than $6. Retirement Clearinghouse is proud to be part of the *** Companies, led by ****** L. *******.

  D. S.

  Date: 03/03/2025

  Unfortunately, I was not notified by ******** about this until after the rollover took place. ******** never provided any information about the fact that this rollover would take place nor the fact that the $9.89 was in the account. The money was deposited after a full rollover of the account had taken place and to be honest, I can't even tell you where that money came from. I originally rolled a significant amount of capital from this account when *** sold my company and the $9.89 should have been moved to that plan as well, however it wasn't and no notification was received. Retirement clearinghouse had no issues absorbing 60% of the value of the account, even when I didn't need nor want the services. If this company ***** this kind of money off of its customers every year, they are just s******* the little guy in favor of funding a billionaire.

• Review fromA. G.

  Date: 02/12/2025

  1 star

  A. G.

  Date: 02/12/2025

  Wish I could give 0 stars. A prior employer rolled over a very small 401k plan to this company. I wasn't aware for a while but they were taking $1.50 per month in service fees. From my retirement account. Is that even allowed??? And when I went to close this account they charge MORE fees. This comoany is a scam and a joke. They need to be investigated and shut down.

  Retirement Clearinghouse, LLC

  Date: 02/17/2025

  We assisted Ms. **** in 2021 with a rollover we received from her former employer. In July of 2024, we received an additional rollover from her former employer. A confirmation letter was sent to Ms. **** on 7/15/2024 notifying her that we received this additional rollover. We did not hear from her until she closed her account earlier this month. Every *** provider and 401(k) plan has fees associated with their accounts. They are charged in different ways, but fees are necessary to cover the administrative cost of managing ***'s and employer sponsored retirement plans. *** charges a monthly fee rather than taking an annual fee like most firms. This means that our *** customers only pay us fees for the time we are administering their account.

  A. G.

  Date: 02/21/2025

  I love how they try to make it sound like they are doing a favor by only taking a monthly fee. I don't see a way to upload a screen shot of all the "fees" they have charged charged me so I'll just type them out:Account closing fee: $15 AutoPortability fee: $30.00 (what is thais???)Communication Fee: $6.00 (I have NOT called and spoke with anyone so I have no idea why this fee is here)*** Consolidation Fee: $59.00 (consolidation of what?)Monthly *** service fee: $1.50 Partial Consolidation Fee: $59.00 (AGAIN consolidation of what?)Redemption Fee: $15.00 (redemption and closing fee charged)Stop and reissue Fee: $30 (stop of what and what was re-issued?)I did NOT call anybody, only requested the account closure through their website. I did't activate this account, my former employer moved my funds here. And I didn't "consolidate" anything. Also, what is the difference between the account closing fee and the "redemption fee". From what I'm seeing on my account they are charging EXCESSIVE fees and possible double dipping on those fees. I am SOOOOO glad it was only a small amount of money that was sent to this company.

• Review fromE. K.

  Date: 02/05/2025

  1 star

  E. K.

  Date: 02/05/2025

  I received a letter my employer from 3 years ago established a $12.28 IRA * months ago which is very much a surprise. This is the first I'm being notified I have this account, the balance is $0 after their monthly fees, and it costs $30 to close the account.Even though this is a "real" company, they are a scam.

  Retirement Clearinghouse, LLC

  Date: 02/10/2025

  While this is likely an actual customer, we do not have enough information to look up this account and confirm.

  E. K.

  Date: 02/12/2025

  Indeed a real customer. Though, former since my account was automatically closed when the balance was drained to zero with your fees.

• Review fromTim T

  Date: 12/26/2024

  1 star

  Tim T

  Date: 12/26/2024

  Retirement Clearinghouse will be happy to clear out any retirement savings with excessive fees. Ovoid at all costs.

  Retirement Clearinghouse, LLC

  Date: 01/02/2025

  Confirming Mr. ********* is/was a Retirement Clearinghouse customer. No response will be provided to his customer review. We only post responses to customer complaints.

• Review fromLaMont W

  Date: 02/19/2024

  5 stars
  I just had a GREAT interaction with a CSR, her name was ********. She was helpful, polite, and handled my numerous requests in short time. Whomever hired her, needs to hire more of her. It was to the point that Id recommend anyone calling Retirement Clearinghouse to ask and be transferred to this young lady. Best CSR interaction Ive had in a long time!

• Review fromDajuan S

  Date: 01/11/2024

  1 star
  I have been dealing with the company since December 7 2023. Its now January 11th ****. I requested to close my account on January 7th and have a Check mailed via ***** over night. All they did was create a shipping label. They never actually sent out the check even though they told me they have. I have recordings on my end from each call that contradicts them. I will be getting an attorney as this company is clearly a scam. One lady on the recording says they can ship me a new check, then another agent says they cant. I have read the reviews before dealing with them so I knew to have my own recorded calls as well. Now they are going to be investigated.

• Review fromMarquia P

  Date: 10/26/2023

  1 star
  This is the first time I've EVER typed negative review about a company but Retirement Clearinghouse deserves it! I'm not sure of where to begin but I wish I could leave a -100 (Negative 100) rating for this company. I requested to withdraw my entire 401k out of this company for personal reasons. The agent made it seem like this was a simple request and that it would take **** business days for the mail to deliver my paper check. I requested my funds on 9/20/2023, this company allegedly mailed off the check on 9/25/2023. It is now 10/26/2023 and I still have not received my funds. They do not give any other disbursement option besides mailing the paper check Without tracking. Heaven only knows where my check is. I have been BATTLING between this company and **** for weeks now trying to locate my check. This company has terrible I MEAN terrible ***************** Very nonchalant agents who tell you whatever to get you off the phone. On one rare occasion did I work with a nice and helpful agent; this was 1 out of the 8 times I called in a span of 4 weeks regarding this issue! *************************** (one of the managers), is rarely available! I've only spoken to her once and her tone throughout the call was very nonchalant, sarcastic, and unprofessional. I've even emailed this same manager per her request, and she never responded to my email. I have been very patient with this company but they've been really trying my patience with little to no remorse or accountability! If you have any amount of money held within this company, I would roll over or withdraw it IMMEDIATELY. I am now planning to take legal action.