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Business Profile

Retirement Planning Services

MyFedRetirementWerks

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Retirement Planning Services.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 1 complaint closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:11/27/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    A MyFedRetirement works agent, ******** ******, contacted me via my federal work contact information, I work for ***************************************, ******************************************, and informed me that as a federal employee I am entitled to a yearly financial planning counseling session. She spoke with me about my TSP, retirement, and insurance. She pulled up various documents and showed how much I would likely have for retirement and told me about another **** I could put funds toward and the difference that contribution would make. I purchased a life insurance policy and started contributing to an income builder, ****. I have a copy of the contract with February 11, 2023 as the effective date. I was sent two policies from ******* and my direct deposits have been pulled from my federal pay ever since. I contacted MyFedRetirementWorks to get an update and got bounce backs. I searched online and found their website. I called and no one answered, and I could not leave a voicemail (I did this multiple times). I reached out to *******, reviewed my balance, $6,253.25 - income builder, and asked about cancelling since I didn't trust the process since I couldn't get in touch with MyFedRetirementWorks or the agent. The first ****** I spoke to told me that I would need to complete a surrender form, so I did and uploaded it. In the mail on this past Friday, I received a letter saying I had to resubmit because my form was illegible. I called today and the ******* agent told me that I would have to reach out to the agent that sold the policy, MyFedRetirementWorks, because ******* doesn't manage the policy. She gave me the website and phone number I had already been using. I told her the situation and she said she couldn't' do anything about it because she just has a statement that she's supposed to read that she provided me. I want to ensure this doesn't continue to happen and want the money they've taken from me.

MyFedRetirementWerks is NOT a BBB Accredited Business.

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