ComplaintsforMachinists Money Purchase Pension Fund
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Complaint Details
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Initial Complaint
10/19/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I am going through a hardship and needed to cash out my pension plan. I talked with a person named Daisy before submitting my application. She told me it would take a few weeks for my application to be reviewed. I submitted my application after speaking with her. I then called to make sure she received it. She then told me it would take 30 Days for me to receive my money. My application was received on August 2nd. On September 7th I called to see if my check had be sent. Daisy told me that it would be two more weeks. I called on September 22nd and was told my check would be sent out the following Monday. I called on the following Monday and was told it still wasnt send. I then talked with a person named *** who told me that my application is approved and we are just waiting on the money to be released so they can send me the check. He told me when the funds are released he would over night the check to me. I call every few days and still the same answer. I dont know what else to do?Business response
11/09/2021
We received ***** application on 8/3/21. As of 9/20/21, we still did not have a complete application. I approved a final application once everything was received on 10/5/21. We then needed the appropriate funding for the check. We have to submit that request to the trustees of the fund. We received the funds and put ***** check in the overnight mail 10/22/21.
Initial Complaint
09/23/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I retired in February of 2021. The machinist fund was suppose to pay me the total amount of my machinist fund. They only gave me 80% and kept 20% over the amount of time allotted.Business response
09/30/2021
We did not pay the full balance of ************** because our 2020 yield was not yet calculated so we kept 20% that has to be affected by the yield so we can pay accurate benefits. Our yield has been calculated and a the has been mailed today September 30, 2021.
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Customer Complaints Summary
2 total complaints in the last 3 years.
0 complaints closed in the last 12 months.