- Report: #1067122
Report - Rebuttal - Arbitrate
Complaint Review: ICMA RC
ICMA RC777 North Capitol Street, NE Washington, Dist of Columbia USA
ICMA RC ICMARC - Liqudates Your Retirement Health Plan Savings. Washington DC
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My Wife had her post health insurance plan switched by Lancaster County , from Predentual to ICMARC . Since the change over she has showed 7% LOSS .
I spoke with represenatives from the company and was told that Lancaster County Rep Cary Egan chose a risk plan instead of the low risk it was previously in with Predentual. I was also informed by a ICMARC Manager that Dispite Gains or Loss, there are Management fees , Admisistration fees and misc fees taken on the total investment whether there is a profit or not.
Basically, my infestment is there to pay their bills with Poor investing tatics. There is no incentive to protect my investment because the companies fees are paid regardless. When I asked about changing the people that do the investment decisions I was told there was a group that did that for ICMARC and no change would be made. They just don't care. They get their pay either way.
I would not recommend this company for any of my investment needs. I have funds with several other companies and all are hands down more reliable and honest than this company. BOTTOM LINE IS THEY ARE A COMPANY TO ADMINASTER YOU FUNDS, NOT TO INCREASE THEM.
This report was posted on Ripoff Report on 07/15/2013 11:19 AM and is a permanent record located here: http://www.ripoffreport.com/r/ICMA-RC/Washington-Dist-of-Columbia-20002-/ICMA-RC-ICMARC-Liqudates-Your-Retirement-Health-Plan-Savings-Washington-DC-1067122. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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