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This is a fly by night 401K company. Their origins are actually insurance, and their reputation in this field is not well either. They support illegal operations of 401K plans. Many of their plans are not even approved 401k's. This company took over 401k recordkeeping at my previous employer. They allowed non-US citizens to be part of the fiduciary committee. They dfid not inform all of the employees 30 days in advance as the law requires. In addition, they took each employees’ funds and did not allow the employees to roll the vested portion into an IRA instead of being rolled into their plan. Then these funds were invested at their discretion in their approved funds with no consideration of the employee's investment elections. These funds were held in these investments throughout the blackout period. Once the blackout period ended and employees made their elections, the funds were not always re-invested. Only if the new elections were in their favor would they reinvest the funds. I have now found this company charges an "administration fee" for rolling these funds into a qualifying IRA. These funds are taken from the 401k distribution without being taxed.
This company readily practices in illegal and unethical activity with people's retirement funds. Is this who you want handling your employees' future?
The complaint has been investigated and resolved to the customer’s satisfaction.
Nothing but problems with Milliman on many levels... Their communications are ALWAYS unreasonably slow if/when they choose to respond. They don't make their process clear so you never know where you stand. Consequently, you have no choice but to repeatedly call customer service. But their CS is horrible - the agents contradict each other and you can't get a straight answer. They LIE... for example, they said letters were sent to multiple people, all at different addresses, yet not one person received them. This has happened several times. They also said things were approved when they weren't, etc. After doing some research on Milliman, it's likely they run their business like this on purpose - their stall tactics allow them to withhold money as long as possible and add to their own bottom line. As others have suggested... RUN FROM THIS COMPANY.
I am having extreme difficulty registering my account with Millman orwilerkevin@gmail.com
Of each $100 that goes into my Milliman managed retirement account, $29 is taken for fees by Milliman. I work part-time for a small non-profit agency that does wonderful work in my local county and I am so proud to be a part of this organization. While I never expected a retirement account from this employer to be a major funder of my retirement, I am upset that Milliman would seem to be so comfortable taking such a large percentage.
This is the worst company when trying to gain access to my 401k account. The Create Account online option stonewalls at needing a "Registration Pin" that you probably don't have since one is never provided
Calling for help from Customer Service is a total WASTE of time. The person who answered, Christy/Kristy?, had the softest voice with absolutely no intonation or personality. Completely deadpan. She told me that I would have to request an registration pin to be snail mailed to me before I could access my account. Ridiculous!
I have four other 401k providers and everyone of them has been truly helpful in getting me access to my account. They perform an advanced verification over the phone, match it up with the information they have in my account, and get me access in a few minutes.
I will be getting my money out of this company ASAP and I would advise anyone else having difficulties to do the same.
Agreed! Stay away! Seems like they deal with companies that are like them. Unethical, illegal activities. How do you only get .5% in 3 months?! S&P is up 10% alone last 3 months! Stealing your money!
I apply for my disability pension september 11 2020 I have given all the information they ask for some of it twice my first payment was to be november 1 2020 here it is january 5 2021 and I am constantly being lied to about my benefits after 30 years of paying into my pension and no one can tell me what going on why is it taking so long?
Extraordinarily poor customer service and incompetent staff at Milliman. If ANYONE has an option to use another company, I strongly suggest you consider doing so. Ten days ago I submitted request to rollover over $1m from two accounts with Milliman to ETrade. I was assured the check would go out the next day via FedEx - an account I had to establish solely to send this check. Two days later I got a call from Milliman requesting to confirm my identify, which was fine. I was assured then the check would go out the next day overnight.
Well...it's been a week now and the check has not been received by ETRADE. I called Milliman just now.
At first, I was told my FedEx account was invalid so they sent the check by regular mail US Post Office. ETRADE had warned me in advance NOT to let them do this as checks are frequently lost or show up a month later.
I then asked to speak to a supervisor. When he came on the line he said what I had been told was not true. He said that Milliman will not send anything to ETRADE via FedEx because they use a PO Box for ALL of their rollover checks.
I missed out on a planned investment yesterday all due to the incompetent people at Milliman. I was never contacted, never told they would not send a check by FedEx to ETRADE, nor is there any mention of that on their website.
They did not get a tracking number for USPS and I have no option but to wait another ten days and only then will they cancel the check and issue a new one.
I hesitate to characterize the people at Milliman with whom I spoke as "customer service" as I was NOT delivered any type of service.
I asked to speak to a higher level employee and was told by the "supervisor" that he is it...
Again, if anyone has a choice amongst firms to manage your retirement accounts, I strongly recommend you do your own due diligence and read all of the reviews on this site re Milliman.
Personally, I will NEVER work with them again and I also will ensure that everyone I know hears this story.
im having a similar problem with this company...i feel like im begging them to release my deceased husband pension
Same! Been on the phone with them and email for the past three months and they keep sending me in a loop for my deceased mother. Thinking about getting legal representation for this
Most frustrating experience ever trying to get milliman to roll over my 401k into another existing account. First I couldn't download the forms they said I need to fill out because there was an error "publishing" the form to. Pdf. Initially, they insisted it was an issue on my end until I finally spoke to a supervisor who confirmed the issue was on their end. The supervisor advised their it department was looking into it but couldn't provide any time frame for correcting the issue. I spent countless hours over the course of two weeks calling them because, of course, every time you call in you have to go through their automated system before you can speak with a person. Finally, the supervisor filled the forms out (although I had already filled them out on line multiple times and provided the same information to other customer service personnel repeatedly) and emailed them to me but the forms were not correct and I had to call back to have them corrected.in the meantime, they also advised that I would be charged a $50 fee for the rollover! I've rolled over 401ks from a few previous employers and have never been charged a fee. Milliman insisted the fee was imposed by the plan administrator so I asked to speak to that person but I was told that not only could I not speak to them, even the supervisor was not allowed to speak to them! Ridiculous! Eventually, the supervisor confirmed the $50 fee would be waived. When all was "said and done" and the rollover processed, they charged me the $50 fee anyway even though I had confirmed in multiple phone calls that the fee would be waived. I've since placed a few follow up calls and was told the supervisor I originally spoke to (juan meraz) would provide me with an update but I never heard from him so I called again. I finally spoke to an older gentleman in the customer service department who told me that in "all of his years experience a fee has never been waived" basically leading me to believe that mr. Meraz only told me what I wanted to hear but it was total bs! I hope I never cross paths with this company again but if I do I will tell anyone and everyone how difficult they were to work with. The amount of hoops I had to jump through and the time involved for me to access my money was completely unreasonable.
I think this company needs to be investigated by the Attorney General or GAO. Last year my 1099-R for required minimum distribution did not match the amount withdrawn from my account. Only one of serious issues. Their supposed security by making you get a pin...how about sending me an email when I've changed something in my account. Nothing. Today I probably spent 2 hours trying to figure out how to add back in my beneficiaries that didn't rollover when my retirement from carpenters was changed to Milliman. My "witness" never received an email to verify this. Plus, I already added my beneficiaries by phone several months ago, but the names all showed up as "not beneficiaries ". I can't belive this is a financial institution. I thought Chase bank was bad...all those charges. Hundreds if dollars over the course of a year. Never had this with carpenters. Don't know what to do next.
I've been recently reading these horror stories and OMG how familiar do they sound. These complaints sound exactly like every problem that I've experienced. This company also deals with Pension (Disablity) so I need these funds for medications, doctor bills and expenses I pay thru auto-pay. They are the most incompetent people, inexperienced individuals and even the CEO (Steve White) and CEO (Kenneth Mungan) hide out as well. The company should be dismantled and replaced with some real employees who want to work. Well I sent faxes that they claim they never received, then have to resend them on the limited income I have and still it takes them 3 days for that. There just the worst I've ever seen in life of 57 years. For any furture companies out therwho want to invest employees money stay clear from this (Milliman Service). This company is a Hell Pit of Disfunctional People . holding our benefits hostage. Everyone Deserved to be Fired ASAP! But my mind wonders how they've gotten away with it for so long?
Am I to believe there's NO accountable here at all? Really.
They had screwed me over royally in 2018 they stated they sent me forms to be filled out and returned that I never recieved. I looked around and they just cancelled my benefits with No Warning or phone. It took them over 3 months to reinstate them just before the holiday. When all it takes is someone to get off there [censored] and push a button that says SEND. I realize that they could care less because they've gotten there paychecks and there bills are paid. Now I'm again in 2019 with the same issue as last year. They claimed that the fax wasn't recieved thru UPS Store, then when they did recieve it 3 days later it was passed there deadline. But just on Friday 8/2/19 they confirmed reciept of the first fax but it was missing one form but no one called to notify me.
They should Cease all of the files and Investigate this Illegal and Establishment I bet you would really find all the skeltons in the closet that they have. I also believe the owners, CEO's and COO's No everything that's going on.
I would advise anyone that works for a company that Milliman handles their 401K to run like heck from them! Save your own money. Do NOT get a 401K that this company manages. My former employer used them for our 401K plans and I have been gone for 4 years and they still have my money and won't roll it over or pay it out. Be careful who handles your 401K. Milliman steals money from people. Plain and simple. I'm getting an attorney to make them give me my money or roll it over!
The worst most unethical experience I’ve ever had. Months of calling, emails that contradict each other. Initially, Milliman denied even receiving my retirement deposits from Dallas County Hospital. I have still not seen a check and every week, they say there is paperwork missing of which I was never informed they needed. They did not send me any paperwork to get my retirement funds back, only rollover forms. I asked and asked. The hours and hours on this issue, so many phone calls and the check date keeps getting changed. Im filing complaints with EVERY financial regulatory agency I can find and then I’m getting a lawyer. Milliman needs to be sued for corrupt financial practices.
COMPLAINT AGAINST "Milliman IntelliScript (milliman.com) (PO Box 2223, Brookfield, WI 53008 TEL: [protected] Office)
Director of Operations: Angela Huang
Email: FCRAreport@milliman.com
PROBLEM STATEMENT
Recently I was trying to purchase a supplemental health insurance. Three insurers denied a coverage due to my unacceptable prescription history they obtained from a consumer report organization that provides prescription history. So I contacted and obtained the record from Milliman.com (source).
To my shock, I learned that Milliman had been providing "FALSE INFORMATION" to insurers.
Their customer service never answers the phone and never calls back.
Too many problems found on a "1 page" report as follows:
DUPLICATE INFO
Duplicate information (Rx drug was prescribed & filled Only Once at one of pharmacies (CVS, RiteAid, or Walmart). But Milliman entered the same data over and over again for different dates as being filled. Found: "4" occurrences of false information
DELETED INFO
According to the respective pharmacies, Milliman included info as filled Rx that had been marked as "Deleted" in the pharmacy info systems after pharmacies had found an error in their systems.
Found: "2" occurrences of false information
NON-EXISTING INFO
Milliman IntelliScript generated and listed on the column of filled Rx in my prescription history pieces of info that were Never Prescribed nor filled (Example: same Rx with multiple different strengths as if they were filled on different dates when none of them were ever prescribed. Example: a booster shot on the same day as the first-time vaccination was given. All the pharmacists denied existence of these pieces of info in their systems.)
Found: "2" occurrences of false information
Milliman IntelliScript: A Provider of False Information on Prescription History
I agree. Milliman has my 401K funds and won't give it back.
I was getting a small pension from my former husband and when he died they sent me a letter saying that the payments would stop and I sent them the court papers saying that my payments would continue they then sent a letter saying that they had miscalculated the original amount that my payment was less and that I had been overpaid for ten years and I owed them money and they would start taking it out of my payment. They are not even the original company that wrote the papers. Very dishonest company