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Business Profile

Financial Services

MissionSquare Retirement

Complaints

Customer Complaints Summary

  • 152 total complaints in the last 3 years.
  • 24 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:01/24/2023

    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 separated from my job due to undergoing cancer treatments. I need this money to pay for my health insurance to continue my treatments. I faxed over a withdrawal request on January 13, 2023, because I was unable to access the secure messaging on my account, due to issues with Mission Square website, 10 days later, there is still an issue. On January 17,2023 my employer notified Mission Square of the separation date of January 3, 2023. I verified with customer service that all documents were received. I have been calling daily because I was told there was a block on my account on January 18, 2023 and the customer service agent said she would email the department to remove the block after verifying all my information. I called on January 19,2023 and was told everything was processed and a check would be expedited or they would direct deposit the money. On January 23,2023 no check was received so I called again and was told it wasn’t sent yet and she couldn’t tell me why. I called January 24,2023 and was told again there was a block on my account and they would email the department. Every phone call is 1.5-2.5 hour wait on hold. Noone will allow me to speak with the department that processes the payments or blocks accounts. The standard response is I’ll update your account and send an email.

    Business Response

    Date: 08/29/2023

    August 28, 2023

    Dear Dispute Resolution Team:

    This letter is in response to your letter dated January 24, 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 distribution from an account held by MissionSquare Retirement.

    Upon research into this matter, please be advised the individual has received their distribution.

    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:01/20/2023

    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 mailed in forms along with a $300.00 check to set up an account for my minor son. The account was created and online access provided. The check was cashed/cleared my bank on September 28th, 2022, however there is no record of the contribution nor have the funds been deposited into my son's account. I have sent numerous messages through the website, spent hours on the phone, and emails to the Plan Specialist I had been working with. Almost 4 months now; the $300 is gone and I have no answers.
  • Initial Complaint

    Date:01/19/2023

    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 attempting to make a withdrawal on their web site. When I call for help they tell me they cant help other than to have me mail and or fax in a claim form. I have always done online banking with them . I live on the road and don't have the ability to deal with the delays this will cause. I need access to my funds to pay bills ans avoid penalties. Spending over an hour on the phone numerous times and they refuse to help

    Business Response

    Date: 08/11/2023

    August 10, 2023

    Dear Dispute Resolution Team:

    This letter is in response to your letter dated January 19, 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 have not been able to make a withdrawal on an account held by MissionSquare Retirement.

    Upon research into this matter, please be advised the issue has been resolved and the individual has been able to withdraw 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:01/13/2023

    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.
    ****/Mission Square requires calling for certain transactions, like closing out the account after leaving employer. They are not answering phones. Callers are out on hold indefinitely (at least that has been the experience of mine and family when trying to call over the last several weeks. They say they have “higher than normal call volumes”. No. They either aren’t sufficiently staffed or are actively avoiding phone lines. I’ve called at opening (8:30a) before closing (9 pm) and no one picks up. This has got to be unlawful.

    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 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 on hold for an unacceptable amount of time with MissionSquare Retirement. Upon research
    into this matter, please be advised the issue has been resolved and the individual reached our office by telephone to withdraw 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:01/12/2023

    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.
    Customer service for this company is non-existant. They essentially make it impossible to access my money by denying me access to withdrawals online and saying call customer service. However, I have called customer service 8 times today alone (January 12,2023) and waited on hold for a combined time of 141 minutes and 3 seconds between the hours of 8:45 am and 6:30pm which are their active business hours. I did not get ahold of a single human being in that time nor have my issue resolved. I also messaged them twice via their secure messaging portal today and have not heard back.

    Business Response

    Date: 08/28/2023

    August 28, 2023

    Dear Dispute Resolution Team:

    This letter is in response to your letter dated January 12, 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 not able to contact MissionSquare Retirement to initiate a funds withdrawal. Upon research into this matter, please be advised the issue has been resolved and the individual’s funds were withdrawn from MissionSquare 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

    Customer Answer

    Date: 08/28/2023

    [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]



     Complaint: ********



    I am rejecting this response because:

    Although I was able to receive my money, the amount of time it took was unacceptable. It should not take 9 phone calls spanning multiple hours to get ahold of someone every time I need to make a withdrawl.



    Regards,

  • Initial Complaint

    Date:01/11/2023

    Type:Product 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.
    My husband died September 1, 2022, and I completed all necessary Mission Square Retirement documents to roll out my husbands and my 457 funds to ************. Mission Square ICMA will not release the funds. I have been lied to and nothing has been done. The regional vice president of ICMA, *************************, has not been forthcoming. I cannot access the funds and I am losing substantial money as I wait for a resolution. My situation is very similar to the May 6, 2022, complaint on the BBB site. I think this is criminal and legally they should have released my funds within 30 days of submitting the paperwork.
  • Initial Complaint

    Date:01/07/2023

    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 submitted two online payment requests to Mission Square Retirement (formerly ICMA Retirement Corporation) to the new Mission Square Website in October 2022 and December 2022, for Mission Square to draft payments from my banking account at **** ********************* to contribute to my Roth IRA. In both instances, both payments were posted to my Mission Square Roth IRA as being received but in neither instance, has the payment actually been withdrawn from my checking account. I reported the issues immediately to Mission Square and am going on two plus months now without any resolution. Calling the customer service line requires you to wait for hours only to then be told that they will document your issue and someone (a Manager) will get back to you. My calls to the customer service line have not been fruitful. I reached out to a representative directly as well, *************************** in early December and have yet to receive a response other than Mission Square is working on the issue.

    Business Response

    Date: 07/14/2023

    July 11, 2023 

    Dear Dispute Resolution Team: 

    This letter is in response to your letter dated January 7, 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 regarding her  inability to make contributions to her IRA account administered by MissionSquare  Retirement.  

    Upon research into this matter, please be advised the contributions were made with funds  withdrawn from her checking account as she requested on February 3, 2023.The individual  was subsequently contacted, and she confirmed funds did pull from her account and post to  her IRA. She did not have any further questions or concerns. 

    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:01/05/2023

    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 since October, 2022, to have retirement funds with this provider transferred out into another one. I have called dozens of times and waited indefinitely on hold to speak to someone, I've sent messages through their secure messaging platform, and have also reached out to my previous employer's Plan Representative for support. His advice was simply to keep trying to call. My money is held up and I have no way to access it, which is completely unacceptable. There has been no business attempt to resolve my issues. The couple of times there was a response via secure messaging seemed like more of an automated answer explaining the rollover process, of which I was already well-informed, rather than addressing my specific case. I unfortunately don't have documentation to support the dozens of phone calls I've made, only the correspondence through secure messaging and my emails to the plan representative through my previous employer.

    Business Response

    Date: 08/11/2023

    August 10, 2023

    Dear Dispute Resolution Team:

    This letter is in response to your letter dated January 5, 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 have not been able to roll over their *** account contributions into a new account after their employment ended.

    Upon research into this matter, please be advised the issue has been resolved and all funds were rolled out of the individual’s *** account 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

  • Initial Complaint

    Date:01/04/2023

    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.
    This company is purposely delaying retirement payment (457) benefits for reasons unknown. Within the last several months, their ratings have never been above 1 star. Their customer service is sub-standard, call backs that are promised are never made and withdrawal requests are lost! There are many government employees that have funds in this retirement account company. It must be looked into ASAP!

    Business Response

    Date: 08/11/2023

    August 10, 2023

    Dear Dispute Resolution Team:

    This letter is in response to your letter dated January 4, 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 have not been able to close their 457 account and withdraw funds.

    Upon research into this matter, please be advised the issue has been resolved and all funds were rolled out of the individual’s account 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

  • Initial Complaint

    Date:12/22/2022

    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 transferred money from a ******** retirement account to a Mission Square account. USPS tracking shows that the check was delivered to Mission Square, along with the required paperwork, however, the money was never deposited to my account. I have called three times with no resolution. Where is my $2,000.

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