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:02/09/2023

  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 had a loan against my 457B plan with this company that was set to be paid off by January 2023. Both of my loan payments that were completed by payroll deduction in the amount of $613.XX on 1-11 and 1-27 were erroneously posted to my account as plan contributions and have remained as such since. I do not have a current contribution agreement on file and the money paid was with after tax dollars, not pretax dollars afforded to contributions. I first reached out on 1-20 and again on 1-27, via telephone and was advised by the rep to wait several business days, as they were having issues with their system. I have since reached out on 2-3, wait time on the phone was 2.75 hours. 2-4, wait time was 1.65 hours. Both times the rep was unhelpful and stated that the issue would have to be looked at in the “back office.” I have sent several e-mails but still nothing was done to correct the issue. I have tried telephoning several more times, but after waiting hours to speak with a representative, never got through before the business closed for the day. On 2-7, I was finally able to speak with a rep on the phone after waiting over 1.5 hours. The rep stated he would adjust the contributions to have them post as loan payments, thus the remainder of my loan would be paid off, however, serval days later and nothing has changed. The loan is still outstanding and interest bearing and my loan payments have yet to be posted correctly to my account. The fact that this simple fix has lead me here, coupled with hours long wait times to speak with a representative reflects poorly on Mission Square (formerly *******).

  Business Response

  Date: 08/28/2023

  August 24, 2023

  Dear Dispute Resolution Team:
  

  This letter is in response to your letter dated February 9, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania
  (“the BBB”).

  According to your letter, the BBB received a complaint from an individual stating their loan payment was misapplied in an account held by MissionSquare Retirement. Upon research
  into this matter, please be advised the issue has been resolved and the payment applied correctly.

  If you have any questions or concerns, please feel free to contact me at the contact information provided below.

  Sincerely,
  

  Managing Vice President
  Client Experience Operations

• Initial Complaint

  Date:02/07/2023

  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 have been trying to speak with a representative from this company since December 2022. Each time I am left on hold for at least an hour without ever speaking to a live person. My funds are tied up with the firm and I have not been able to access my account. I wish to close my account with this company.

  Business Response

  Date: 09/12/2023

  September 10, 2023

  Dear Dispute Resolution Team:
  

  This letter is in response to Complaint ID # ********, filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).
  According to your letter, the BBB received a complaint from an individual stating they were trying to find out what they needed to do to close their MissionSquare Retirement accounts
  but have not been able to get assistance in doing so.

  Upon research into this matter, please be advised we reached out to the individual and were unable to reach her directly. We left a voice message explaining that we would send the
  disbursement form to her email address on file, and that she should complete and submit the form, and call us back if further assistance was needed. We consider the matter concluded.
  

  If you have any questions or concerns, please feel free to contact me.
  

  Sincerely,
  
  Managing Vice President
  Client Experience Operations

• Initial Complaint

  Date:02/02/2023

  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.

  Lack of Communication from businesscannot reach ANY DEPARTMENT you are transferred to during BUSINESS HOURS. Also they do not respond to your online inquiries since you cannot get anyone on the phone. Are they even open!?

  Business Response

  Date: 09/12/2023

  September 11, 2023

  Dear Dispute Resolution Team:

  This letter is in response to your letter dated January 13, 2003, regarding Complaint ID Number ******** filed with the Better Business Bureau of Metropolitan Washington, DC,
  and Eastern Pennsylvania (“the BBB”).
  

  According to your letter, the BBB received a complaint from an individual stating she was on hold for an unacceptable amount of time with MissionSquare Retirement. Upon research into
  this matter, please be advised the issue has been resolved. The individual communicated with us and was able to withdraw her funds.
  

  If you have any questions or concerns, please feel free to contact me at the contact information provided below.

  Sincerely,
   
  Managing Vice President
  Client Experience Operations

• Initial Complaint

  Date:02/01/2023

  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 recently resigned from my position with a City Municipality and wanted to withdraw my money and close the account the City set up for me with *******/MissionSquare. They’ve basically made it impossible for me to do so, as there are no online options for withdrawal and contacting the business directly results in unreasonably long hold times, and the one time I got ahold of a representative I was told they’d email me the form for withdrawal of my money, but it never came.

  Business Response

  Date: 08/28/2023

  August 24, 2023

  Dear Dispute Resolution Team:

  This letter is in response to your letter dated February 26, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).

  According to your letter, the BBB received a complaint from an individual stating they could not withdraw their funds from an account held by MissionSquare Retirement. Upon research into this matter, please be advised the issue has been resolved and the funds have been withdrawn.

  If you have any questions or concerns, please feel free to contact me at the contact information provided below.

  Sincerely,
   
  Managing Vice President
  Client Experience Operations

• Initial Complaint

  Date:02/01/2023

  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.

  My father passed away in March of 2022. My sister and I are the beneficiaries to his 401k savings through Mission Square Retirement. We began receiving distributions from the account in August of 2022, on a monthly schedule. I never received a check for the month of September. On Oct 6 I called to report that I had not received the check and get it resent. I was told it was cancelled and a replacement check was on the way. I never received a replacement check. I called again Nov 7th and explained the situation, the operator searched for 45 minutes before telling me they could not find record of the first call, and said that it was likely because they had recently 'upgraded' phone/website systems. I was again told that the original check would be cancelled and a replacement would be sent. I still received no check. On Dec 14th I called once again, however this time the operator informed me that their system showed that the check mailed to me for the month of September had been cashed. I informed her that this was absolutely not me that had cashed the check, and was told it would be sent up to an investigation team and I would be contacted in a few days. It has now been over a month and I have received no contact from the company or any check. Also during this time my sister received a check from Mission Square marked 'replacement' which came in a plain envelope with no description or explanation as to what it was for. The amount of the check was for roughly the amount that I would have expected to be receiving (which is roughly 3x the amount that my sister receives), and was dated Oct 27th. When my sister called to ask about this she was told aggressively and repeatedly that there was no way at all that this mystery check was related to my missing check, however the employee she talked to could not provide even a halfway adequate explanation as to why she was receiving any 'replacement' check when she had not requested one or been aware of any need for one.

  Business Response

  Date: 09/22/2023

  September
  20, 2023

  Dear Dispute Resolution Team:
  
  This letter is in response to your letter dated February 1, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).
  
  According to your letter, the BBB received a complaint from an individual stating he did not receive one of two disbursement checks related to their deceased father’s account with MissionSquare Retirement. Upon research into this matter, please be advised the issue has been resolved and the individual received a replacement second check, which was cashed.
  If you have any questions or concerns, please feel free to contact me at the contact information provided below.
  
  Sincerely,
  Managing Vice President
  Client Experience Operations
  

• Initial Complaint

  Date:01/31/2023

  Type:Customer Service 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.

  This is a financial retirement fund company. I have been attempting to make contact with the company about my own money since November 2022. No calls, messages or emails have resulted in answers or closing of my account. I have yet to make contact with anyone and currently am concerned my money is not available or the companies lack of contact to be deliberate. Im trying to close a investment account and cannot thanks to the companies lack of response. Looking on line this seems to be a common complaint.

  Business Response

  Date: 09/22/2023

  September 20, 2023

  Dear Dispute Resolution Team:
  
  This letter is in response to your letter dated January 31, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).
  
  According to your letter, the BBB received a complaint from an individual stating they did not receive a response from customer service regarding a requested rollout of funds from an account with MissionSquare Retirement.
  
  Upon research into this matter, please be advised the issue is considered resolved as the inquiry was regarding how to close a retirement account and if there were any fees associated with closing the account. A withdrawal form with details was sent to the individual, but a completed form has not been received back. In addition, secure messages have been sent instructing the individual to reach out to their employer to get further instructions around the required separation of service steps and rollout of funds.
  If you have any questions or concerns, please feel free to contact me at the contact information provided below.
  
  Sincerely,

  Managing Vice President
  Client Experience Operations
  

• Initial Complaint

  Date:01/30/2023

  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 tried to withdraw my funds from my account. The website portal would not allow me to request an ACH transfer to my bank account. So I called them on the phone which resulted in a rude rep telling me I had no account, keep in mind she ask for my SSN to verify who I was when I called. I then requested to speak to her supervisor who clarified I did have an account. I then asked to withdraw my funds and she said I can't request an electronic withdraw with my account, which I find strange. She then said I have to fill out a form and send it VIA USPS to request a fund withdraw. The withdraw form isn't available on the website. The rep told me she would have to send it. I then informed her my email and she said she doesn't directly send it and would have to have a tech send it. I have yet to receive the paper work to withdraw my money. The is sham retirement agency makes it impossible to withdraw your funds in a timely manner. Not to mention the fact that I'm charged a $14 management fee on my account a month, which they use to purchase more of their own low performing index funds. I want either to set up a ACH transfer to withdraw my funds, or access to the form to do so.

  Business Response

  Date: 08/24/2023

  August 23, 2023

  Dear Dispute Resolution Team:
  

  This letter is in response to your letter dated January 30, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).

  According to your letter, the BBB received a complaint from an individual stating they could not withdraw their funds from an account held by MissionSquare Retirement. Upon research into this matter, please be advised the issue has been resolved and the individual has successfully withdrawn their funds.
  

  If you have any questions or concerns, please feel free to contact me at the contact information provided below.
  

  Sincerely,
  
  Managing Vice President
  Client Experience Operations

• Initial Complaint

  Date:01/30/2023

  Type:Service or Repair 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 went through a divorce in July 2022. I paid a lawyer to file a **** which was completed and filed with ICMA back around September 2022. I was told also by my lawyer that part of an *** account with ICMA Mission Squares would not require a **** to complete the processing of getting my portion of that account. I have spent hours on hold each time I reached out to ICMA & was told back on November 22, 2022 that they were processing the ******** should receive information in the mail within 3 months from when they received the information from my lawyer (more than 3 months ago). I was told I would receive a call back which I never received, but do know from a conversation I had today that it was documented that they were supposed to make a call back on November 22, 2022, but they never called. It is now February 2023 & nothing has been resolved. I have cancer and desperately need access to the my portion of the funds from the *** account as I am newly divorced & trying to take also support my child. I spent no less than 4 hours on hold today with ICMA was disconnected twice after waiting on hold for an hour and one half. I spoke to one person who said I needed the **** department and I would just have to "******" them to get this done. They could not connect me or provide a number for me to again wait on hold for hours to "******" them. The representative said she would give me a call back when she could locate a phone number which never happened. The representative also told me "my accounts should for sure have been processed by now."

• Initial Complaint

  Date:01/28/2023

  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 to have my retirement money transferred out of Mission Square into another company. The other company issued a notice to mission square to accept the money and I submitted an online transfer out form to Mission Square on December 7, 2022. I sent Mission Square secure messages and called them and they simply tell me, "your documents have been received and sent to the processing queue."

  Business Response

  Date: 09/19/2023

  September
  8, 2023

  Dear Dispute Resolution Team:
  
  This letter is in response to your letter dated January 28, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania (“the BBB”).
  
  According to your letter, the BBB received a complaint from an individual stating they were having difficulty transferring funds from an account held by MissionSquare Retirement. Upon research into this matter, please be advised the issue has been resolved and all of the individual’s funds have been transferred per their request.
  
  If you have any questions or concerns, please feel free to contact me at the contact information provided below.
  
  Sincerely,
  Managing Vice President
  Client Experience Operations
  

• Initial Complaint

  Date:01/24/2023

  Type:Customer Service 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 wasted several months and countless phone calls and attempted emails to withdraw my retirement funds from 2 accounts. I finally have one account closed with a check pending. However the other account (307312) 457b is still not closed (in the 48 hours the Customer Svc said would be no later than Friday 01/20/23). I called again 01/23/23 1312hrs and waited on hold for 3 hours and 1 minute (nobody answered). This is just one more of dozens of unreturned calls, attempted emails and web messages. I actually thought this was a scam/fraudulent company until I finally had someone answer the phone last week. MissionSquare Retirement has the worst customer service I have ever had and continue to receive.

  Business Response

  Date: 09/15/2023

  September 14, 2023

  Dear Dispute Resolution Team:
  

  This letter is in response to your letter dated January 30, 2023, regarding a complaint filed with the Better Business Bureau of Metropolitan Washington, DC, and Eastern Pennsylvania
  (“the BBB”).
  According to your letter, the BBB received a complaint from an individual stating they were having difficulty reaching MissionSquare by phone regarding a request to withdraw funds
  from their accounts. Upon research into this matter, please be advised the issue has been resolved and the funds have been disbursed to the individual as requested.
  If you have any questions or concerns, please feel free to contact me at the contact information provided below.
  

  Sincerely,
   
  Managing Vice President
  Client Experience Operations