ComplaintsforMutual of America Financial Group

• Initial Complaint

  03/22/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I have an account with Mutual of America through my previous employer. Towards the end of February I sent the appropriate paperwork requesting to withdraw funds. On March 1, they acknowledged receipt of this and emailed: "We're letting you know that we've received your submitted withdrawal forms and that we will be reviewing them shortly.If we have any questions about your submission, we will reach out to you in the next 3-5 business days.If you have any questions, you can contact us by phone at ************, Monday through Friday, 9:00 a.m. to 5:30 p.m. (ET).Alternatively, you can reply to this email. Please do not modify the subject line of the email when you reply.To assist us in responding to your questions, please refer to your case number:******Thank you!Your Mutual of America Team".Having not heard anything after that, I called them on March 7 and was told that according to their records I was still employed by my previous employer. I had the HR department email them, referencing the case number in the subject line, that my last day of employment was on January 30. From the 13th though the 18th, the only response I would get from them was:"Thank you for contacting Mutual of America's ***************************** We are reviewing your email, and we will respond as soon as possible.You can also contact us by phone at ************, Monday through Friday, 9:00 a.m. to 5:30 p.m. (ET).Thank you!Your Mutual of America Financial Group Team"I called on March 21 and was told that emails from my previous employer won't do anything; they just need headquarters to change my employment status in the system.So, calling them or emailing them does not get me connected to anybody that can actually do anything. How long can they stall?

  Customer response

  03/31/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  *************************
  
  
  
   
  
  

• Initial Complaint

  03/06/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Both my husband and I have our IRAs with this company. Recently we cannot reach anyone by phone to resolve problems. Hold times on phone are 1-3 hours. Responses are vague and do not pan out, i.e., told the *** check will arrive in 1 week, but not received until 1 -1/2 months later, too late for 2022 taxes. At our request, our bank tried to rollover both IRAs with no response. I received a letter 2 months later stating that they cannot accept faxed or email rollover requests and told that I fill out another rollover request form and submit to them, which I did. My husband has not received such a letter. All we want is to rollover our earned IRAs to our local bank rather than deal with this company any longer. We are both in our 70s and in poor health and feel like were being taken advantage of.

  Customer response

  03/27/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

• Initial Complaint

  03/01/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  ******************************* 401(k) Plan# ****** Today marks 162 days since I submitted a Distribution Request from my *** with Mutual of America Financial Group (***) via Electronic Funds Transfer (EFT) to my checking account back on 09/20/22. I verified with the representative that all required forms and information had been received. Call of 10/20/22 to MOA verified that my request had been received at their processing office to be processed within 7 days. Call of 11/04/22 verified that my request is now in their system but would take 2 weeks to 1 month due to the influx of claims they were working on due to Covid and economic downturn.Call of 12/08/22 - could not get through to customer service after hold time of over 1 hour.Call of January 24, 2023: Spoke with a representative who told me that the money had been issued via EFT. I explained that, after careful review of all transactions of my Chase checking account, that I see no record of having received anything close to the expected $11k+ transaction from MOA even though the necessary processing information they have on record was verified with me on this phone call. I was then told that *** would open a case and put a stop payment on the missing EFT and a new check would be mailed to me after 7 to 10 days, Call of February 9, 2023 Having not received anything I called again. Now I was told that *** was waiting for a response from their bank that the stop payment had been successful before they could send me a check via ***** to my registered home address. Since the original Distribution was supposed to be an EFT to me, I dont understand why they are waiting for their bank in order to mail me a replacement check. A transfer of my call to a specialist repeated what the first person told me, but that someone from MOA would call me to update me on the status of this case. No one has called **** am a 69 year old in retirement after 49 years of employment. I have dealt with multiple insurance companies through which I have carefully planned my retirement needs. No other company has caused me the angst and frustration that MOA is causing **** would appreciate any help that you can provide.

  Customer response

  04/28/2023

  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 and the matter has been resolved.

   

  Hello,
  I'm sending this email to advise that this complaint, originally read on 3/1/23, has been satisfied. I finally received a check yesterday 04/27/23 via US mail for the total amount. They are very slow to respond, but they finally did respond.
  
  Thank you so much for your help,
  **************************;
  

  
  

  
  

• Initial Complaint

  02/15/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I emailed a 403(b) rollover request to Mutual of America (***) on 1/24/23. On 01/27/23, *** emailed me a letter stating they were unable to process my request because multiple amounts were noted on the form. *** said I could call or respond to their email to indicate the correct withdrawal amount. I responded to their email on 1/30/23 and informed them that the entire amount of my account needs to rolled over to **** I let them know that I called and talked to Temetria at *** on 1/19/23 and followed her instructions on how to complete the form. As of 2/7/23 *** had not acknowledged my email so I sent a request for a status update. As of today I have not received a response and, in checking my online account, my money is still sitting at ***. This is the second time I've tried rolling my entire *** account to **** I completed and mailed a form in mid-October 2022. On 11/18/22, I called and complained to *** Specialist, *********************************, because it had not been processed. ******** said a note on my account indicated there were insufficient funds to process my request. She said that that was ***'s error, I had completed the form correctly, and she would enter a request to escalate processing. This was never done. Because I had not heard anything by 1/19/23, I called *** again. This is when I spoke to ******** who indicated that I completed the original form incorrectly and provided instructions on how to complete it. I asked ******** for the *** compliance officer or a contact name to complain to if I ran into any issues with my request being handled. She could not provide one. All she was able to provide was this email address, ******************************* This happens to be the same email address that I submitted my rollover request to and that is not responding to my status inquiries. I want all of my funds from *** rolled over to *** and have made this abundantly clear to them. Thanks in advance for help resolving this issue.

  Customer response

  03/08/2023

  Better Business Bureau:
  
  This is in reference to complaint ID ********. MOA communicated that they sent the rollover to **** *** has received and credited the rollover to my account. The matter has been resolved to my satisfaction. Thank you for your help.
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

• Initial Complaint

  02/10/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  The customer service issues are EXTREMELY OUT OF ORDER I have been waiting to get information on my loan process for many weeks, which I was told it only takes 24hours to maybe a week at the **** I have also been to the headquarters and still have not receive payment, even though when I do get a hold of someone in customer service the answers that I get is your being processed today just look at your account it should be there soon. This company is really a joke after reading many reviews of similar situation this seems like something that needs EXTREME attention due to this also being others main source of income. It is truly unfair to customers that pay into this with their HARD EARN MONEY to be treated so poorly when wanting to retrieve their own money. This seems like some thing that needs to be reported to the local news for attention next.

  Customer response

  02/23/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  *****************
  
  
  
   
  
  

• Initial Complaint

  02/01/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I requested a IRA ********* and a check from Mutual of America (MOA) was mailed on or about 11JAN2023. After two weeks the check never made it to the destination (Fidelity). I called MOA and an agent (*********************) put a stop payment on the missing check and said a new check will be issued the next day and he would call me with the Priority Mail Tracking Number. The amount in question is $50,459.82 I was just told by another MOA Agent that a new check has not yet been issued. This is a very serious matter involving a very large sum of money. This serious issue needs to be investigated and resolved ASAP! Today is Jan 31st. It has now been three weeks since the first check was mailed. My money is missing. I don't know if I should call Law Enforcement, or a ************** that handles these matters. Please advise.

  Customer response

  02/16/2023

  Better Business Bureau:
  
  Although it has been 6 weeks since my initial request was sent to Mutual Of America (MOA), the matter has finally been resolved.

  A second check was issued and has arrived at the new financial institution.

  Needless to say, the entire experience has been very disappointing, considering the length of time MOA has been in business, and the expertise they should have had acquired. 
  

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

  
  

• Initial Complaint

  01/31/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I have been attempting to access my account statements via my online account on the Mutual of America website. For weeks now, the quarterly statement function on the website has not been working and I am unable to gain access to any of my statements (current or past). I have called the company four separate times and been placed on hold to talk to a *********** Services Representative each time. Each time I have waited on hold for over an hour and no one had ever answered.

  Customer response

  02/22/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  *************************
  
  
  
   
  
  

• Initial Complaint

  01/18/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Case # ******** as provided by Mutual of America. Submitted an IRA ********** request form to Mutual of America's **************************** (***) via email on 1/2/23. Received confirmation that the form was received on 1/3/23. Based on prior experience, I expected the request and deposit via EFT to be completed in three to five business days. I tried to reach Mutual of America by telephone on 1/11/23, but gave up after over one hour on hold. I then sent direct messages via their ******** page on 1/11, 1/12 and 1/17. Each time, there was a response stating I will be contacted. I also sent a message via ******* on 1/11 with the same response. Sent another email to the *** on 1/13 and received another auto-reply. This company is impossible to reach. They don't answer their phones, they don't contact clients as promised through direct message responses and they don't respond to emails beyond useless auto-replies. At this point, I am not sure if this is a staffing issue or something more sinister. I have been a client of Mutual of America for over 40 years and this is very disturbing. How can this company refuse to process a ********** request AND completely and utterly fail to communicate with clients. The lack of transparency is stunning.

  Customer response

  02/01/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

• Initial Complaint

  01/18/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Mutual of America received my rollover request November 2022. After numerous phone calls, rude customer service, and not able to find answers regarding the account, I learned the funds were placed in a payment box Jan 3, 2023. As of now, the funds still have not been transferred.

  Customer response

  01/25/2023

  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 and the matter has been resolved.
  
  Sincerely,
  
  ***********************************
  
  
  
   
  
  

• Initial Complaint

  01/17/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I filled out an application for a withdrawal from my retirement fund from Mutual of America. I was not able to reach them by phone, waiting for over a hour each time and then either being disconnected, or habging up myself in frustration. I was given a reply via email, that I cannot make a withdrawal at this time. No explanation was provided. I have tried calling my companys Mutual of America representative, as well as the customer number provided on the ********************** site. No body picked up. Nobody responded. I am 64 years old and therefore eligable to withdraw funds without a penalty. I bought a car thinking that I would pay it off when I received the withdrawal, as I am unable to afford the car based on my salary alone. I did make a withdrawal once before, the process was frustrating but at least my companys representative was available to help me, this time he is not answering my texts, and he will not pick up my calls. As a company that is meant to service people in retirement, I am appalled by their inability to be reached. If I were an elderly person with dementia or even just an elderly person whos executive functioning is not what it once was, I would be inclined to give up my quest for my hard earned retirement funds. I am not at that point yet, so I am filing this complaint in hopes that the Better Business Bureau can be of assistance in this time of need.-***********************

  Customer response

  01/21/2023

  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 and the matter has been resolved.  Even though I didnt find out why it was so difficult to reach someone at their listed number, in order to find out why my request was denied, I did receive a phone call from their representative this week, and he said that They will approve the requested withdrawal. The money has been received, and the problem is resolved. Thank you very much.
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

*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. ↩