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Report: #1301049

Complaint Review: Transamerica Retirement Services - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Naji — Santa Clarita California USA
  • Author Not Confirmed What's this?
  • Why?
  • Transamerica Retirement Services Nationwide USA

Transamerica Retirement Services Trinet, Trinet 401k, Transamerica, TriNet Passport 401(k) Plan Not for Poor People Los Angeles Nationwide

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This company makes it a business practice to eat up small accounts with charges and fees.
I was sold a 401k account by Transamerica and my employer. 

2 months later I'm laid off. 

I only have $200 in that account. I can't add more money to the account, my employer wasn't "required" to match my funds (apparently it was optional and no one told me), Transamerica and its mutual funds ate up $50 in admin costs and charges, and now they want $40 to roll the money over into another IRA.

If I continue to argue with them, they will eventually close the account, take the fees they want, open another account outisde the 401k plan, at an institution of their choice, and give that institution the remainder of my money. They have done that.

This report was posted on Ripoff Report on 04/21/2016 10:14 AM and is a permanent record located here: https://www.ripoffreport.com/reports/transamerica-retirement-services/nationwide/transamerica-retirement-services-trinet-trinet-401k-transamerica-trinet-passport-401k-1301049. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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