Hewitt Associates Inc
John Hancock 401 (k) distribution incompetence
- 07-06-2012
- 50
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!
Company: Hewitt Associates Inc
Country: USA
Address: 100 Half Day Road Lincolnshire IL 60069
Phone: 8472955000
Site: hewitt.com