Usacomplaints.com » Miscellaneous » Complaint / Review: Hewitt Associates Inc - John Hancock 401 (k) distribution incompetence. #914906

Complaint / Review
Hewitt Associates Inc
John Hancock 401 (k) distribution incompetence

It's bad enough that Hewitt forces retirees to wait until "the first Friday after the first Tuesday" of each month for a direct deposit so that the earliest one can get it is the 4th and it can be delayed till the 13th. Today being the first Friday after the first Tuesday, I was expecting my monthly deposit, so I mailed off two checks - American Express and MasterCard payments. But no deposit. When I called to see what was wrong I was told, after they researched the problem, "Oh, because of the July 4th holiday we're not processing payments until next week - you'll get it on the 13th." No advance warning - and they had no problem deducting the money from my 401 (k) on July 3rd. Which means someone is playing with it interest free for a week. Bush league Hewitt and John Hancock!



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