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 ComplaintThe 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:07/26/2023
Type:Service or Repair IssuesStatus: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.
This Deferred Compensation management organization Mission Square Retirement is unresponsive to emails & voice mails. I have been attempting contact with them for more than 6 weeks. A QDRO was filed with them in April & I need information on how to proceed to separate my portion of the funds from my ex-spouses.Customer Answer
Date: 08/28/2023
I received a call from a representative of Mission Square Retirement on 8/24/23. "*************************************" with apologies assured me the matter would be resolved but, I'm still waiting for any useful details on my account or a statement of funds to be emailed to me. This continues to be frustrating as well as unresolved! --*********************************Customer Answer
Date: 08/29/2023
Well, Mission Square Retirement has FINALLY sent me the forms that I need to resolve my issue. It was only after submitting this BBB complaint. It shouldn't be like this. They really need to upgrade the customer service experience in ALL depts. at that company. This has been months of frustration and roadblocks for me. I hope the remainder of my dealings with them can go smoothly & quickly because I still don't have trust in them to handle any of my financial matters.Initial Complaint
Date:07/25/2023
Type:Service or Repair IssuesStatus: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 7/25/23, I attempted to contact Missionsquare Retirement via their ************ phone number listed on their website to inquire about whether there were fees associated with an account transfer to a different company. I waited and provided all required account holder information to the automated line. I then made selections to speak to a representative about a withdrawal. On call #1, at approximately 4:57PM EST, I was connected with a representative and could barely hear them speaking. I told them this, and then they were immediately clearer after my request. I then began to explain that I was wondering about fees associated with an account transfer to another company, and I was hung up on. I then called back a second time, went through the same automated account information process, and again made a selection to speak with a representative. At approximately 5:35PM EST, the call was terminated and I did not get a chance to speak with anyone. I then called back for a third time at approximately 5:38PM EST and made a different selection in the automated menu to speak to a representative about a funds transfer, as I believed something may have been wrong with their phones on the account withdrawal selection line. I waited for approximately seven minutes and I was connected with a representative who requested my full name and social. I provided both, and then the representative informed me they could not hear me at all. The representative then said hello several times, and I responded each time. It should be noted the call quality from the representatives phone was completely inadequate. She then informed me she would be hanging up, and did so. I immediately called my wife's phone and had a clear conversation with her, dispelling any idea that it may be my phone or provider. Missionsquare was not only unhelpful, they appear to have a technical issue on their end that's preventing account holders from managing their funds and inquiring about potential fees.Business Response
Date: 08/21/2023
August 21, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re:Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 25, 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 concerned about being assessed a fee to make a withdrawal from an account held by MissionSquare Retirement. Upon research into this matter, please be advised the individual was contacted by one of our representatives and was reassured no fees would be charged for a withdrawal 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 OperationsInitial Complaint
Date:07/11/2023
Type:Service or Repair IssuesStatus: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 retired a year ago and my Pension office sent a check in the amount of 66,000 to Mission statement per my request and according to 8 different people after 2 long days on hold and being disconnected I was told the company never received the check and according to my Pension board your company cashed my check back in January 30,2023 I’m absolutely LIVID TO SAY THE LEAS! Extremely RUDE AND UNPROFESSIONAL AND UNEDUCATED EMPLOYERS!! I need a call back ASAP ************Business Response
Date: 08/08/2023
August 1, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 11, 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 deposit a check into an account administered by MissionSquare Retirement. Upon research into this matter, please be advised the funds are now in the individuals account.
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 OperationsInitial Complaint
Date:07/10/2023
Type:Order IssuesStatus: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 January 1, 2023, my mother sadly passed away from cancer. She has a deferred comp plan through MissionSquare. We have been trying since January 11, 2023 to make the claim for payout to the proper beneficiaries. WE have submitted the required documentation SEVERAL times. Each time we submitted the paperwork we were assured that everything was in order and check will be in the mail within 10 business days. Fast forward to today, July 10, 2023 and the check has still not been issued. When we finally do reach a representative (usually takes hours) they say documents are missing; which I know for a fact is a complete lie. Their fax number doesn't work and they refuse to accept anything via email. I am disgusted by this company and how dare they take advantage of people that trusted them with their money only to be fleeced in the end! My father would like what my poor mother planned to give to him. She worked hard for whatever little savings she had. It an absolute shame this company is allowed to exist. Please help!!!Business Response
Date: 08/04/2023
August 1, 2023
Dear Dispute Resolution Team:This letter is in response to your letter dated July 10, 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 access funds in an account administered by MissionSquare Retirement. Upon
research into this matter, please be advised the requested beneficiary transfer and payment was processed on July 13, 2023. The beneficiary has received and cashed the check as of July 24, 2023.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 OperationsInitial Complaint
Date:07/10/2023
Type:Product IssuesStatus: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 have a quado, filed with Mission Square. They refuse to give me my money back. I have filled out paperwork, I call multiple times a week and email. They say a supervisor will call me nothing happens. I need help !Business Response
Date: 08/08/2023
August 1, 2023
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 10, 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 access funds in her account administered by MissionSquare Retirement. Upon research into this matter, please be advised the Qualified Domestic Relations Order (QDRO) transfer was processed on July 25, 2023, and a check (#******) was sent to the individual on July 26, 2023.
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 OperationsCustomer Answer
Date: 08/08/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
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.After I contacted the Better Business Bureau, the finally responded. After over a year of calling.
Thank you very much!
Regards,
*************************Initial Complaint
Date:07/07/2023
Type:Service or Repair IssuesStatus: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.
Trying to withdraw funds. Sent 4 forms since December 2022 and still not received. Will not do anything except send a new form.Business Response
Date: 08/08/2023
August 8, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 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 the distribution of funds from an account administered by MissionSquare Retirement.
Upon research into this matter, please be advised the funds were released to this individual on 7/10/2023 and the check was cashed on 7/21/2023.
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 OperationsInitial Complaint
Date:06/29/2023
Type:Billing IssuesStatus: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.
In October 2022, I applied for a ~ $30000 loan against my Mission Square retirement fund. I thought this was a great option as I would essentially be paying myself "back". Payments were to automatically come out of my account in November 2022, By end of January 2023, I noticed the payments were NOT being automatically withdrawn, as was required by Mission Square. They had my information as they had also deposited the loan funds into the same account previously. I called in January 2023 and was informed payments would restart automatically, when they did not come out yet the next month, February, I called again. They stated they would need to take all 4 previous payments at once, I stated this would be a hardship as I was in the middle of finalizing a mortgage on a new home. They stated I would be able to restart payments in March 2023, when that payment again DID NOT start, I called the NEXT DAY and was told the loan was DEEMED. I was told the account was sent to the IRS as income, and that I would be taxed. I would not be able to make payments and that there was nothing I could do. Speaking with multiple people that changed the dates of which the account was "DEEMED" changed repeatedly. Today, June 29, I wake up to a $565 payment taken from my personal bank account without authorization. I called and they stated my account was active, and the payments are starting. I have yet to know whether I will be TAXED as income for this or last year, if the account is truly active, or WHO authorized a payment to be taken from my bank account months later! The level of incompetency I have seen via multiple "recorded" phone conversations leads me to believe I cannot possibly be the only person this has happened to.Business Response
Date: 07/25/2023
July 25, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 10, 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 loan repayments to his retirement plan account administered by MissionSquare Retirement.
Upon research into this matter, please be advised we have been in contact with the individual and his loan has been reamortized. In addition, the individual’s loan repayments have been correctly set up. He will not be issued a 1099-R for this matter.
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 OperationsInitial Complaint
Date:06/28/2023
Type:Product IssuesStatus: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.
Deposit of my retirement tax deferred check was cashed by ******** according to Mission Square Retirement and the response from ******** is " the check was sent to the wrong P.o. Box".Business Response
Date: 08/03/2023
August 2, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated June 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 regarding the processing of a distribution from an account administered by MissionSquare Retirement. Upon research into this matter, please be advised the distribution was processed on 6/6/2023. Check # ***** was sent to Discover as directed by the individual, and it was cashed on 6/15/2023.
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 OperationsInitial Complaint
Date:06/20/2023
Type:Billing IssuesStatus: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 22nd I mailed in a payment to an outstanding loan and they received on the 28th and started the process to apply to my loan on June 1st. This was done through numerous phone calls just to get that answer. Also, the loan was paid off in January 2023 through directly taking payments out of my payroll but apparently this little amount of $88.13 was never deducted and the loan ended up being deemed. I found out about this after creating an online account through this new system.After multiple phone calls and finally speaking with a supervisor named **** twice, I was promissed that the payment will be processed and applied to my loan.Today is June 20th and the payment still hasn't been processed. It is impossible to get through someone and after many hours waisted the supervisor doesn't even have direct communication with the payment processing center. He has to email them to get an answer or get anything done.This new company is horrible and nothing gets done and people's money is being mishandled and payments are getting lost and you literally can't get anything resolved by anyone.People answering, if you're lucky to get though, are cluless and they have no access to anything and basically it's a dead end.All I want is for my payment to be processed and my loan to be updated to paid off status.Thank youBusiness Response
Date: 07/17/2023
July 17, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated June 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 regarding loan repayments to his retirement plan account administered by MissionSquare Retirement.
We have processed the loan repayment and the balance is now $0.00. In addition, the individuals new loan has been set up and made accessible to him.
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 OperationsInitial Complaint
Date:06/20/2023
Type:Service or Repair IssuesStatus: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 recently opened a **** and traditional **** on my MissionSquare account. This is provided by ** **********. The issue arose when MissionSquare had entered the account numbers into their system incorrectly. So when I transferred money to the traditional SBDA it goes to the **** ****. Even though I have no money at this time in MissionSquare funded by ****. I called multiple times trying to have this fixed. Each time waiting for an operator after being transferred multiple times. Some times this took well over an hour to actually speak with someone. I was told multiple times the problem would be resolved or it was an issue on the TD Ameritrade side. So 4 months later the problem still persists and I am unable to fund these accounts. I have tried to take the step of closing the **** accounts in attempt to reopen them one by one at a later date so there wont be an issue with the account numbers. Now it has been another month and MissionSquare states they are having issues closing the **** accounts. Maybe it is the fact the account numbers are incorrect. Which they still will not address. So I am stuck in limbo waiting for the accounts to be closed. I have talked to ** ********** and have been advised all of the account closing information has been sent to MissionSquare and they are just waiting for MissionSquare to close the accounts. MissionSquares customer support is probably the worst I have dealt with in any customer service setting. Long wait times to speak with someone just to be told we need to transfer you to someone who handles your plan in DC. There is no way to talk to a supervisor or file a complaint to resolve the issues I have been having. There is no follow up so you have to continue to call back to find a status update. Only to be told that after looking at your account notes it seems nothing has been done. I would not recommend MissionSquare to anyone. Unfortunately this is the plan my employer has chosen and I am stuck with.Business Response
Date: 07/18/2023
July 18, 2023
Dispute Resolution Team
BBB of Metropolitan Washington DC and Eastern Pennsylvania
1411 K St. NW, 10th Floor
Washington, DC 20005
Re: Better Business Bureau Complaint ID Number ********
Dear Dispute Resolution Team:
This letter is in response to your letter dated July 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 regarding his inability to close his accounts administered by MissionSquare Retirement. Upon research into this matter, please be advised the individuals accounts have been closed 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 OperationsCustomer Answer
Date: 07/19/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
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.
Regards,
***************************
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