Name and Shame
Name and Shame

BPAS REVIEW

Complaint
#5YEJV

This complaint was posted on NAS on 24th Mar, 2022 and is a permanent record located here: https://www.nameandshame.com/bpas-5YP14/they-feeed-my-account-to-death-id5yejv .

NameandShame Author
f1GBVBw
23rd Mar, 2022

They fee-ed my account to death.

I had requested fund transfer of all funds from my previous compies 401K into my new 401K. This did not happen as the plan’s policy had moved my funds from 401K to an IRA. Just so happens the IRA fees on that policy transfer are more than the money being made, so basically they fee-ed my account to death (the average fee over the past 10 years is 11.5x how much I made in interest). I recently moved and got a notification in the mail about this account. In trying to salvage the little bit left was told they can not even get the remaining funds distributed as their fee to distribute ($75) is $5 more than what is left in the account. So they get to keep what is left until the balance is zero… They are more interested in their bottom line than their customers as in my discussion with them the response what that it was my responsibility and not their fault.


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