Retirement Clearinghouse
reviews and complaints

It was bad enough to realize HCA did not contribute anything after almost 2 years of investing. Essentially after working through the worst of Covid while understaffed and limited supplies. Overall I gave them money to hold and profit on while my n-95 cut slits under my eyes. Now it was sent here instead of my other Ira… I probably didn’t push a button or check a box. I’ll admit I’m not great at paying attention to this kinda stuff while working 14 hour or more hours during nights. Now the fees are insane to move it. 2 different charges of 60 say closing fee. All together totaling over 200 just to move a little over 1000? I knew cashing out would take 20% not counting taxes or their extra 10%. While transferring would have less fees. Maybe someone there can help me make it make sense to me if anything. I just don’t understand how corporations, especially a hospital during a national emergency can take advantage of its workers.

Retirement Clearinghouse did not rollover my 401k and collected fees for a long period of time. Retirement Clearinghouse did not provide statements for almost 2 years. When I finally received one and attempted to rollover my 401k from them to my current employer, the rollover was not completed. I followed their instructions, filed the paperwork and did hear from them for several months. I got notices to complete rollovers online but that was to reallocate the funds within the company. Meanwhile, they continued to collect fees that eventually cut the amount by 50%. I eventually had to go through my current company to submit a request directly to Clearinghouse who stated they'd not received any requests yet the next week, a request was completed and my account closed. They delay processing your forms and continually charge your account fees in the meantime.

Mismanagement of my 401K rollover while collecting absurd monthly fees. Intentionally waited to process account closure to collect more fees. Had a 401K from a previous employer rolled into one of the company's safe harbor accounts in mid 2017. From 2017 to 2019 the account decreased in value year over year while the company collected absurd monthly service fees on my account. Upon requesting to close the account in early April this year the company waited until the last day of April to process the request so they could collect another monthly service fee. I am still waiting for the check to be received by the company I moved the account to and I am skeptical of whether the check was actually mailed on the day I was told by a representative. The company also did not provide a means of tracking the check when tracking information was requested. This company is intentionally scamming people out of their retirement funds.

Retirement Clearing House is scamming people out of money. I recently received a statement from Retirement Clearing House for the first time. Apparently my IRA account was rolled over to Retirement Clearinghouse from my former employer on 10/17 and I was not informed about this until recently. Like many others, they waited years to send me a statement so that they could collect a maintenance fee of $4.50/month. When I called to close the account, I asked for a refund because this is the first correspondence I have received from them, and I was unaware that I was being charged these fees. They refused, stating that the fees are legit, and I probably threw away statements (which I did not). I have lived at the same address since 2011. What isn't legit is not sending the first statement until almost 6 years after the roll over. I am not the only person this has happened to. I know they won't refund my money, but I just want others to know.