Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:08/01/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I requested a withdraw, on June 21st, from the above named company of my 401K. They promised a ***** day turn around. I was in contact with them 2-3 times and was told that there were no issues. On the 16th day, they told me that the doctor that I had previously worked for had not filled out all of the information correctly. When I spoke with the doctor, he stated and sent me a screenshot of the date that he had completed the information. The doctor stated that Slavics system did not allow him to go back in to correct any possible mistakes. After I had multiple days of communication with Slavic, I told them to reach out to the doctor themselves. Their employee emailed the doctor but again, that was not helpful because the doctor was not able to go back in the system. After requesting that they call the doctor to get the issue resolved, it was only then that Slavic went ahead and began processing my withdraw request, way after the promised ***** business days. I was notified on the evening of July 25th, that my money had been processed and was to be sent to my bank, but that it could take 1-3 days to process depending on the banks procedure. Also, my banking information had been confirmed multiple times on multiple occasions with different employees of Slavic. I wait until day 3, which was a Friday, and contact Slavic because the money was not showing up in my bank account. The employee that day stated that even though it was day 3, maybe it would be there on Monday. So on that Monday the 31st, I contacted Slavic again to find out where my money was and that person needed to reach out to someone else in the company. When I hadn't heard back again, I reached out to Slavic in the afternoon to get a status. That person I spoke with told me that funds were sent on the 25th?! When I contacted my bank, *****, they told me that the funds would be available that day. On the am of Aug 1st, I reached to my bank and they had no funds showing, at all from Slavic. Went to the bank branch and they stated that the money was sent back to the company for error. I called Slavic AGAIN and they didn't have an answer as to what the problem was. Still waiting for more information!

  

  Business Response

  Date: 08/07/2023

  Hi ****,

  Thank you for reaching out about this. We apologize for the delay in receiving your check. Our customer service leadership has reviewed your complaint and listened to the phone calls you mentioned. We found opportunity for better communication on our team's behalf in relaying why the delay happened. While some of the delay was beyond our control and reliant on third parties, we could have done a better job in communicating with you on why your distribution was taking longer than our stated standards. We apologize, and are working to ensure communication is improved in the future.

  In terms of your check, our records show that the funds were released on 7/25 and received by ********** on 7/26. The *** was then returned to us on 8/01. Our funds processing team overnighted a new check that same day, and your funds were in your hands as of 8/02. Again, we apologize for the delay in receiving it and we appreciate your business. 

• Initial Complaint

  Date:07/20/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was approved for a distribution loan from my 401k Slavic said they mailed my check on July 3rd 2023 I have not received anything! They have taken 4 payments from my paychecks. I want to know why its been 17 days and still no check. They give me the run around on the phone. It does not take that long to receive mail from ********** to ******* **.

  

  Business Response

  Date: 07/26/2023

  Hi *******,
  
  The check for your loan was mailed on 7/3/2023. When a check is issued by standard mail, it can take up to 10 days for it to be delivered from our experience. Once that ten days expires, you can ask for a stop and re-issue of the check if needed. On 7/18/2023, you requested a stop and re-issue of the check to a new P.O. Box address. That check was printed the same day and issued via regular mail to the new address. We have to wait for the 10 day window to pass in order to re-issue the check again if you did not receive it this second time. If that is the case, we are happy to overnight the check, however, it can not be sent overnight to a P.O. Box address. You should have received an email from our service ambassador requesting a phone call with you. Please respond to his email to set up a time to talk if you still have not received your check. Thank you and we appreciate your business.

• Initial Complaint

  Date:07/10/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I've has issues with a Slavic 401k Self-Directed Brokerage that was closed in 2021, but over the last two months has had positions exited and money withdrawn in 3 separate transactions. I've had $44k taken out of the Fidelity account by **********************, and in 7 or 8 calls and several open cases over a month and half, there's still no resolution. I've been assured on 4 separate occasions to have a call back within 24 hours, and I've. not gotten a single call back. Nobody seems to have answers as everyone shows that my account has been inactive since the end of 2021, but I have $44k missing due to Slavic initiated transactions. I've also spoken to Fidelity 7/8 times and they've pointed me back to Slavic, citing proof that the transactions were initiated by Slavic and money was withdrawn and deposited into a Slavic account. The lack of ability to explain transactions or find answers is bewildering. I've not only been missing funds, but I've missed the opportunity for those funds to appreciate given the market movement over the last several months.

  

  Business Response

  Date: 07/19/2023

  Hi *****, thank you for reaching out. We passed your feedback to our customer service leadership and had them review your account. They have since communicated with you via phone and email regarding your account and this should now be resolved. We apologize for the inconveniences you experienced. Below is a summary of our findings.

  The participant made a distribution request on November 3, 2021. The 401k account was partially invested in the Fidelity Brokerage Account. When a distribution request is made, the participant is required to liquidate their position(s) in the Fidelity Brokerage Account. Once liquidated, the funds remain in cash within the Fidelity Brokerage Account until Slavic401k moves the funds to the participants core account in order to process a distribution request. On November 9,2021, the participant liquidated his brokerage account positions and the funds were placed in the cash account within the Fidelity Brokerage Account.Slavic401k, due to timing issues, did not move the cash from the Fidelity Brokerage Account into the participants core account prior to the distribution being processed. Slavic401k distributed to the participant the full amount of his account, including the full amount of the brokerage account on November 15, 2021.This was a rollover distribution to Fidelity and attached are copies of the cashed rollover checks, which represent the total distribution of the participants account. Recently, **************************** a reconciliation audit of its Fidelity Brokerage accounts and determined that the cash in the participants account was never removed. In the meantime, the participant reinvested the cash within his brokerage account. To correct this, Slavic401k subsequently liquidated the brokerage account to attempt to cover the amount that was already distributed to the participant. Slavic401k incurred a loss of $4,739.96 as a result of the participant reinvesting the cash back into stock positions. Slavic401k currently has policies in place to prevent this from happening in the future. Slavic401k has communicated with the participant via phone and emailed participant a breakdown of the account. The participant has been given a service ambassador as a point of contact if he has any additional questions regarding his account. 

  Customer Answer

  Date: 07/19/2023

   
  Complaint: 20297256
  
  I am rejecting this response because:

  1. I cannot open the cashed check document. Please resubmit as PDF.

  2. What is the statute of limitations/legal right to claw back these fund given an operational breakdown by the business. This was unauthorized activity >1.5 years later with zero warning. 

  
  Sincerely,
  
  *******************

  

  Business Response

  Date: 07/19/2023

  Hi *****,
  
  Attached is a PDF copy of the cashed checks for your review.

  All of our 401(k) plans are governed by ******* law, which states the company has four years to recover funds, that in this case, were not properly deducted from the account. We apologize for this situation and any confusion it has caused.

• Initial Complaint

  Date:06/16/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have asked for a distribution rollover and it has been i progress for weeks.They list their phone number i their online portal as ************ The request to view status and history goes to a blank page.I believe they are fraudulent as I cant get to anyone nor my funds

  

  Business Response

  Date: 06/23/2023

  Thank you for the feedback and apologize for any inconvenience. According to our records, your distribution request was processed within 9 business days, which is within the timeframe quoted on our portal. Additionally, we have provided your feedback to our IT team regarding the distribution status section and working towards a solution. Finally, our customer service manager has been in contact with you directly to discuss the problems you and your employees are experiencing. If able, please share any issues your employees have experienced with our manager so we can review and ensure they are addressed and dont cause problems in the future. We thank you for your business, patience and understanding. Should you have any further questions, please let us know.

• Initial Complaint

  Date:05/27/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On May 9,2023 I terminated employment with my previous employer. ******************* issued a refund for health insurance in my final check. Slavic is claiming that I am still listed as a current employee. The frustration trying to reach someone to help at Slavic if of epic proportions. The customer service does not have any information and can only read the scripted replies they are given. After almost a month I was told my request to cash out is denied and to try in another 30 days. Unacceptable ************ not only keeps money not belonging to them they seem to go out of their way to avoid any help or support. We obviously make the request due to unforeseen adversity that we are faced with dealing with and most are urgent matters. You have the ability to help but free reading all the complaints this seems to be the standard of practice. I am not sure how a company demoing with money and online finance situations can operate like this and claim there is no illegal practices. I was expecting my disbursement on May 30 and now have a a blanket scripted email yet again as a reply. Holiday wekend closures now hinders the ability to speak to a live person again. ************ has to be the most dishonest and shady business out there. I will not recommend anyone using this company. Short of driving to their office I am at a loss for how this is allowed to continually effect clients money that is legally and rightfully theirs but is kept from them maliciously and blaming process and procedures that seem far from legal. Social media is a great tool to share experiences and I plan on the relentless and constant effort to have money that is mine returned immediately.

  

  Business Response

  Date: 05/30/2023

  Hi *********,
  
  Thank you for reaching out and brining this to our attention. We have passed your concerns over to our customer service team to review. They did not find any errors in processing, but did find that expectations on timing of the requested distribution could have been communicated more effectively. We have been told that our customer service team was able to reach you via phone and explain the status in detail. Additionally, our distributions team is working to trade the funds on the market today. We will overnight a check for the funds to you at no additional cost once we receive them from the trade. You should have been given the contact information for a lead team member of our customer service team. If you have further concerns about your distribution check, please reach out to that team member directly. Thank you for your business. 

  Customer Answer

  Date: 05/31/2023

   
  Complaint: 20112529
  
  I am rejecting this response because the details are not accurate.   *********** actually had one decent supervisor that I was able to reach after three more hours of attempting to tech someone. ****** the supervisor is your o let saving ***** because she has been the o lay helpful person.    Your Information you just replied was not accurate with the exception of that she is helping to expedite due to your errors.  
  
  Sincerely,
  
  *********************************

  

  Business Response

  Date: 06/02/2023

  Hi *********,
  
  We had the customer service team review your information again, and also spoke with *******, the team lead who has talked with you a few times directly. She confirmed that your request was traded on the 15th business day and that we have waived the overnight fee for your check as a courtesy. You should have the check soon, if you don't have it already. You were also given a direct email and phone number for at team lead in case any concerns arise. If there is anything else that we can do at this time, please use the contact information provided. Thank you.

• Initial Complaint

  Date:05/25/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Slavic401k company received my request for distribution on 4/14. I have not received my distribution from my 401k. They state that they mailed a ***********/5 however its 5/25 and the check has not been received. They will not stop pay and reissue as an ACH. They will stope pay for $25 fee to overnight after another 5business day waiting period. Now I here in ******* does it take more than 7days to receive mail. It seems impossible to get my money and this has cause extreme financial hardship and stress. I also have not received an amount that is being distributed. My money is just gone with no backup details.

  

  Business Response

  Date: 05/30/2023

  Hi ****,

  Thank you for the feedback. We passed your concerns over to our customer service team who reviewed the records. We've been told that they have been able to get in contact with you and updated the mailing address we have on file as well as issued a stop and re-issue of your check to the new address. This check will be overnighted at no additional charge. Our customer service team will reach out to you again once tracking information is available for the check. Thank you for your business.

• Initial Complaint

  Date:03/10/2023

  Type:Sales and Advertising Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I took a rollover distribution from my 401K when changing employers. A $75 processing fee was not clearly disclosed on the form I received from Slavic, nor was I given a receipt of this in my account. In the Slavic401K account, it said the full amount of funds in my account had been transferred to the Ascensus 401K at my new employer. When I looked at my portal and spoke to an Ascensus representative over the phone, they said a lower amount than the rollover request had been received. Only after speaking to Slavic's customer service team did they reveal the $75 fee which was never openly disclosed on their processing form. Instead the form referred to the fine print of another document. When I asked to dispute the charge, the customer service representative refused to refer me to someone who could help with my problem.

  

  Business Response

  Date: 03/14/2023

  Hi *****,
  
  We passed your information over to customer service and have been told they were able to reach you on the phone to explain the the fee. It is disclosed by the CSR agent that assisted you over the phone, as well as in the documents attached, which are referred to in the form that is filled out for rollovers/distributions. There are also annual notices that are sent that disclose fees. We hope this helps explain things and appreciate your business. 

  Customer Answer

  Date: 03/14/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  *******************************************************

• Initial Complaint

  Date:03/08/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My company used these folks as a 401K service. They provide a phone number on their website that does not work. I have also sent a few contact forms via their website and haven't gotten a word back yet. There is no customer service or help. This company needs to be looked into. They are doing this to all their customers. Look at their ****** reviews. Their distribution request isn't working. They are blocking access to my money.

  

  Business Response

  Date: 03/09/2023

  Hi *******,
  
  We passed your information over to customer service and have been told they were able to make contact with you and that your distribution request has been received and is in the processing queue. If you have further questions, please reach out to the customer service person who called you directly. They will be happy to assist you. Thank you.

• Initial Complaint

  Date:03/07/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My brother has a Slavic 401k account, His name is ***************************** ****** - account number **********. His DOB is 5/31/1984. He, unfortunately, passed away on 9/05/2022 along with his wife. I contacted Slavic 401k on 01/06/2023 and explained to Le *********************** that I've been made the independent administrator of my brother's estate. She instructed me to send beneficiary form documents and my parents' ssn cards and driver licenses to ***************************************** I sent this information to ********* and **************************************** on 01/19/2023. After several follow-up emails to both Le **** and ****************************************, I've received no responses. My parents (the heirs of my brother's estate) also have not received his 401k distributions in the mail even though we sent the requested documents on 1/19/2023.

  

  Business Response

  Date: 03/08/2023

  Hi *******,
  
  We sent your information over to our customer service team to review your account. It looks as though our distributions team has been trying to contact you but had an incorrect email address on file. A member of our customer service team tried to reach you by phone but you didn't pick up. You should have also received an email to the address you provided to the BBB asking for a document we are still missing from you. Please reply directly to the customer service person that contacted you via email. He will help get your distribution processed once we have the final document needed. Additionally, please reach out to him directly if you have any questions. Thank you.

• Initial Complaint

  Date:02/27/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trying to contact Slavic 401k for 2 weeks and they do not answer their phones, I sent an email to customer service and they stated I need to call the same number that I've been calling for the last 2 weeks. These people have my money and I need to roll it over to another company, a company that can actually provide customer service!!!!

  

  Business Response

  Date: 03/03/2023

  Hi *******,
  
  We sent your case over to the customer service team and have been told they have tried to reach you by phone but didn't get a response. You should have also received and email from a member of our customer service team, requesting your availability for a phone call. Please respond to that email directly and we'll be happy to set up a time to talk and assist with the rollover. Thank you.