ComplaintsforSlavic401k.com

• Initial Complaint

  08/16/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I wish to get a corrective distribution of an excess deferral in my 401k plan, and to roll over the rest of the balance into a different account.I called them 2 months ago, and again 2 weeks ago. I emailed them 2 weeks ago. They ignored my email, and it takes a very long time (>1 hour) to get connected with a representative.They are very slow at responding.They won't do a corrective distribution for me.

  

  Business response

  08/18/2022

  ************, 

  Our team is researching this and will be in touch with you.

  Thank you, 

  Slavic401k Customer Service

• Initial Complaint

  07/05/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I had a 401K account from my previous company with Slavic Integrated Administration, **** When I was eligible for my new companies 401k service I signed up and was informed that if I wanted to merge them together I needed to contact Slavic to get a direct rollover to merge funds. Since I have never done this before, I called in and spoke to a Slavic representative. I told her that I had never done this before and I needed direct assistance on how to do this so I didn't mess up. I had received an email saying that I needed to merge my account by a certain date in early May due to the company merging with another one. She said that I had made it in time to do the rollover. I asked her to walk me through how to do it. She said it would be easy to do online and to follow these instructions. I then later that night, went online and followed her instructions. I saw that the rollover was being processed and received the checks in the mail. I took them to my current HR rep and she informed me this was incorrect and to follow up with previous 401k. I called Slavic back and let them know that I was informed wrong and needed to have the rollover fixed. I was told they had filed the taxed and couldn't do anything for me. I asked to speak to a manager and I got one on the phone. He acted like he could help me and then a week later received an email saying they could do nothing for me. My new 401k said they can't process the indirect rollover without the full amount being put in by 7/15/2022 which is $935.89. I was told that I would have to have an accountant file my taxes to get this money back but never told that I would need to supply this money in order to process the indirect rollover. Current 401k said they can't file taxes till January and they are sitting on my money and should issue new checks. I want them to either reissue the checks so I don't have to pay out of pocket for a mistake their person directed me to make. They fired this person but will do nothing to help.

  

  Business response

  07/06/2022

  Slavic Integrated Administration Inc. has received this complaint and is corresponding directly with our customer to resolve the matter.

  Customer response

  07/11/2022

   
  Complaint: 17524597
  
  I am rejecting this response because they did nothing to help the situation other than offer to reissue the check. They did nothing that would qualify as customer service to help the situation. When I asked the supervisor if she was happy with the service I was given by the initial representative she went silent and said nothing. Im looking into to further options to let everyone know how awful this company is and unwilling to help their own customers. 
  
  Sincerely,
  
  *********************************

  

  Business response

  07/12/2022

  Our goal is to provide an excellent experience for all of our customers.  We value your business and understand how important it is to feel confidence around our services. As such, we are sorry you have had a frustrating experience. We are happy you have received your funds and will follow through with our customer service team to use this as a training opportunity to avoid this from happening in the future. Please let us know if there is anything else we can do to assist.

  Customer response

  07/14/2022

   
  Complaint: 17524597
  
  I am rejecting this response because:

  Slavic did nothing to help me with the problem and basically said, Sorry we gave you bad service. We wont help you but will use your bad experience as a way to train better.
  

  That is not a response but a denial of responsibility on their part and just pure negligence on their customer service rep who took my initial phone call. When I talked to the Supervisor *******, I asked her if she thought this was good customer service and she wouldnt answer the question. They didnt even attempt to fix it. Just dangled me out there like they would help and just kept saying there is nothing we can do.
  

  I called in and asked someone to help me because I dont know what Im doing and want to do it correctly and then I do it wrong and contact back saying this was done wrong, please help and you wont help fix it. What is the point of having customer service? Just have a policy of you are S*** out of luck if something goes wrong! Which is basically what has been thrown at me the entire time in legal jargon. It is ridiculous that they refused to fix the mistake.
  

  I will not accept this response. 

  Sincerely,
  
  *********************************

• Initial Complaint

  05/27/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Im no longer employed through my employer whom provides my 401k as of 5/5/22. I requested a distribution of funds in 5/13. On 5/24 the funds were traded and SETTLED meaning the funds are available to be deposited into my banking of choice. Im receiving the same generic message from customer service reps stating the time frame for completion is ***** days. Ive been unable to speak to a supervisor or distribution absent per my request. My question is; if my funds are settled and available, why wait until the 15th day to deposit them? I was also told that the online portal time frame is off, then why not correct it. The turn around time for funds being traded to being deposited into your acct is 2 days. If this is untrue, the company needs to update their misleading information. This company is unprofessional and horrible. Ive been told 6 different things by 6 different reps. ** see that other customers have the same issues is horrible. I should not have to track anyone down for money that is owed to me. I would like to know why my funds arent deposited. Not the same old response that there is a 10- 15 day period for trading because my funds are traded and settled so this should not apply to my request.

  

  Business response

  05/29/2022

  Good afternoon - 

  The time period stated on the portal is ***** business days to process your request. Even after the funds have been traded, there are a few days for the bank transfer or check to be cut and mailed. We do understand that the timeline on the portal needs to be updated and we are working on that. As it stands, your request is still within the stated timeframe, since you submitted your request on 5/13.

  Sincerely, 

  Customer Service

• Initial Complaint

  05/24/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I requested a distribution of my previous employer 401k. The portal and emails received state my request was on 4/25/22 and was completed on 5/9/22. I requested ACH they confirmed Ill receive within 2 business days. I have been contacting them since 5/18/22 and not only am I getting the run around, they are also now verbally stating the request was processed on 5/19/22 and would have the money by today at the latest. I have all emails. They are not being honest and am placed in a really bad situation because I need the funds immediately.

  

  Business response

  05/27/2022

  Dear Ms. Steetle,

  In normal circumstances, you should have had it in ***** business days. Unfortunately, once the funds were traded it was delayed with our funds processing department, with a first attempt to send on 5/19. Unfortunately, on 5/25 an error was discovered with your account number being entered with dashes, which prohibited the payment from going through.  We corrected it and resent.

  We understand this is an extremely frustrating situation and we are truly sorry for the delay and any inconvenience this may have caused. Your feedback is very important to us as we continuously improve the customer experience, avoiding this from happening in the future.

  Should you have any further questions, please let us know.

  Sincerely,

  Slavic401k Customer Service

• Initial Complaint

  04/19/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On 3/29/22 i sent in a distribution request form and i received an email later that day saying it had been received. On 4/4/22 i received an email stating the distribution was processing and for further information log in to my account. I tried to login numerous time but it would not let me all it would do was regenerate a code over and over for me to type in. When i called the company I got through after I waited a significant amount of time. The lady in customer service said she would take care of my login problem but it didn't solve it. I didnt receive any updates on the process from 4/04/22 til 4/14/22 and that was an email telling me that they couldnt verify my banking account and i could either pay $25.00 to have it overnighted and if they havent heard back from me with 2 business days then the would mail the check after 2 days. I replied to the email and told them to overnight it. On Monday 4/18/22 i called multiple times to the distribution department and never got an answer. I replied to the email and told them to overnight it. I received an email immediately saying they would make an update in the computer. On 4/19/22 i called and finally got in touch with someone and she said they havent cut the check yet and it should be about 5 more business days. I then question as to why 5 more days because on 4/14/22 she had told me in an email that if i didn’t respond within 2 days the check would Be mailed. So why is it now that i have to 5 more business days. She referred me to customer service to answer my questions. I attempted 3 different times to call them and after being on hold anywhere frrom 30-46 minutes I never got anyone to answer. At the time i fillled out the distribution form i wasnt having a hardship but i am now since it is taken them so long. I am unemployed at this time and going to college. Thanks!!

  

  Business response

  04/22/2022

  Dear Ms. *******,

  Our apologies for the delay in receiving your funds. After speaking with the customer service and distribution teams, we uncovered the following:

  1. Electronic request was received on 3/29/2022
  2. You requested an ACH transfer, however the information entered did not match up with your account data, which meant we were unable to process an ACH request.
  3. Our processing department emailed you on 4/14/2022 offering to send a check by regular mail or to be overnighted for $25, giving two days to respond about which mail option you wanted.
  4.Your account was traded on 4/14/2022
  5. We received your response back on 4/18/2022 to overnight the check.
  6. The check was sent via overnight mail on 4/21/2022, for delivery on Friday, 4/22/2022, scheduled to arrive between 11am and 1pm.

  We understand your frustration and apologize for any inconvenience this may have caused you. We strive to fulfill distribution requests in the 10-15 day timeframe, but due to the error with the data entry for the ACH request, it took 2 days longer than expected.  Your feedback is important, as we are always seeking ways to improve our process to help our customers.

  Should you have any additional questions, please let us know.

  Many thanks,

  Slavic401k Customer Service

• Initial Complaint

  04/07/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Slavic 401 k. I took out a loan request on March 25th. It take 10-15 business. The loan has been in trade status for a week. Every time I call they are vague no answers at all. Now they are saying it's going to take longer. They have really gone down hill. I have had a request to get an update from the processor ********* for a week. I am very frustrated. I have done this before it has not taken longer than 7 days. I am not happy at all since I have been a consumer of there's for 7 years. I want answers and I feel since it's my retirement fund I am entitled to those answers. I also want someone to be upfront with information. I have called everyday for 5 days asked for an update its like my file will never stop pending trade. They also miss inform the consumer about the excepted time on each step, I am passed the allowed time and they ask me why I keep asking. They have really going down hill. I will be taking my funds elsewhere after everything is paid off.

  

  Business response

  04/08/2022

  Ms. ********,

  Thank you for your inquiry. As you mentioned, our time table to process these requests is 10-15 business days. Your request came in on 3/25 and we received the required information to trade on 3/28.  It was traded yesterday (4/7), the 9th business day) and monies are set to be sent to you via ACH 4/13/2022 at the latest. Overall processing time would be 13 business days. 

  Please let us know if you have any further questions.  

  Slavic401k

• Initial Complaint

  03/22/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  It is about 2 weeks that I asked Slavic401k to transfer my 401k money to a rollover IRA. I did manage to start the process with them, but since that day it has become close to impossible to check the status of my rollover, something I want to do to make sure that there is no further delay to add to the already long 15 business days that they claim they need to clear the rollover (I did a similar operation with another financial institution and it took a few days...). Slavic401k either does not make it possible to check the status of the process on the personal portal or, as it occurs lately, it even makes it practically impossible to log into the portal itself as they have a PIN verification system (PIN sent to one's phone by SMS) as it sends that code long after it is valid. And good luck trying to reach an agent! No matter what time of the day one calls, the wait is ridiculous and you are really lucky if anyone calls back. This so much smells of Slavic doing whatever they can to make it hard for people to withdraw THEIR OWN money; either that or they are appallingly incompetent when it comes to technology and their IT department. At this point, it amazes me that anyone would trust their money to them, and I really look forward to the moment that my funds are finally rolled over to an institution that I can trust and does not mistreat their customers as Slavic appears to do.

  

  Business response

  03/22/2022

  Slavic Integrated Administration Inc. has received this complaint and is corresponding directly with our customer to resolve the matter.

  Customer response

  03/23/2022

  
  Complaint: 16925746
  
  I am rejecting this response because:
  

  1. I had to chase them for hours to get a sense of what is going on (namely their IT system is not working!) and their email follow up did NOT work, namely did NOT solve my problem (apparently they can't even test the remedies they suggest...).

  2. My fund distribution process is not yet over and still they are incapable/unwilling to give me access to my portal on their website to directly check the status of that process.

  3. I want Slavic to acknowledge publicly on BBB all the problem they are experiencing and the difficulties they put their customers through, with a public apology and a REAL remedy plan.

  Thanks!
  Sincerely,
  
  ****** *********

  

  Business response

  03/27/2022

  We want to extend our sincerest apology for the poor experience. This is not typical of the level of assistance we provide our customers. Thank you for bringing this issue to our attention; and for your patience and understanding as we address your concerns. We are always looking for ways to continuously improve our service and your feedback is an invaluable part of that process. At this time, it appears on March 24th a representative was able to contact you and we were able to assist you in getting the necessary access to your account. The request for distribution has been processed and we expect its delivery to your financial institution on Monday, March 28th. Again, we apologize for the frustration caused; your feedback is important to us and we have used it to work towards improving our processes.

*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. ↩