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Paychex 401k Complaints & Reviews - Issues getting dispuresment

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Paychex 401k

Posted:    bRamirez

Issues getting dispuresment

Complaint Rating:  100 % with 4 votes
Contact information:
United States
Phone: 877-244-1771
My husband no longer works for the same employer. He finled for his 401k dispursement, Nov 15.2008. Received a letter from Paychex on 11/18/08, stating that the requested had been received and that we should see the dispursement check in 10 business days. My husband called on 12/4 and was told the request was in trading and should be completed 12/5 and possibly another 10 business days. Then he called 12/9 to see what the real story was and was told another 5 or so business days. There was a hiccup in the system and they were going to have to expedite, call back 12/12. Not acceptable, we called again 12/9, asked for a supervisor and was then told that the request had been submitted, then dissapeard. It is a automated system. She had put in an expedite, the money has to be submitted to be traded again and then they will pay for the overnighted check to be sent. She would not commit to a date, probably a few more days. I informed her not acceptable and that I wanted a check manually cut and sent today. She informed me that they do not have the money and it is in the market. It has to trade out of the market and then they will cut and ship off the check. I told them that I could pay the overnight if they would just get the check out to us. It has been a month. We have called one or two times a week after the first two weeks, shouldn't someone have seen the red flag? They get to make money on our money and it is no big deal.

Is there anything that I can do?
Comments United States Savings & Investments
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