Thread regarding ITT Educational Services Inc. layoffs

401k Transamerica and Katz Sapper and Miller

I have just spent some time on the phone with consumer financial protection bureau,

855–411–2372.

If anyone has a complaint against Transamerica, you can call that number and they will take your complaint over the phone I was told Transamerica has 15 days to respond. I am so glad that the government has organizations out there to protect the American people. Because it is unethical for Transamerica to delay this process any further! Or they are simply insane. Because the IRS has already sent the termination letter to Transamerica. It is also wrong for the one person that Transamerica tells people to call who is telling people the legal department at Transamerica is purposely withholding the distribution package documents because they don't like the wording. So who is right? I can tell you who is wronged!! All former ITT employees who want to take their OWN money being held hostage now since 2016 October while Transamerica continues to use these resources to fast, but to add insult to injury, it's still charging fees to keep the money hostage who wouldn't love a deal like that if you're a shyster company!

by
| 518 views | | 3 replies (last )
Post ID: @SXGrIvF

3 replies (most recent on top)

This is the most information I received: IRS has provided assurance as to the qualified status of the Plan so the Plan is executing final administrative procedures in order to distribute the assets of the Plan. The final mailing date for distribution packets for participants to elect their forms of payment is dependent on completion of those final procedures (including getting final invoices for court approval and payment of Plan expenses, modification of forms relating to changes from tax reform law by the Trump administration and final legal approval by Transamerica). The packets will be mailed as soon as administratively possible while maintaining an orderly process of liquidation.

by
|
Post ID: @SXGrIvF-ikuv

FYI - I requested all the rollover paperwork again and am going to resubmit to see what happens. If we are close to seeing our money, at the least the paperwork will be on file and ready to go. good luck everyone.

by
|
Post ID: @SXGrIvF-endk

Thank you for the number. I hope this helps to bring closure and we can finally transfer our money.

by
|
Post ID: @SXGrIvF-4qpv

Post a reply

: