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Business Profile

Bank

Group Plan Administrators, Inc.

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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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 type

  • Initial Complaint

    Date:12/09/2023

    Type:Service or Repair Issues
    Status:
    Answered
    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.
    To avoid financial hardship I wanted to close my 401K/ and take/ pay the penalty. I had to figure out through 3 different phone calls and multiple people at work and even drove to my ************ which company/ office to call/ whom is responsible for my retirement money. After I made contact on November 1, 2023 with person 1. ********* had to wait for the plan administrator because he apparently just got back from vacation. She informed me that I would have to physically come down to the office to speak with the plan administer. I ignored that direction and emailed her my work credentials informing her of my work status whom I was with photo ID. Person 1. informed me that she forwarded my information, and that my form was processed not notifying me that I was not going to be able to receive any of my money from my 401k. I followed up a month later, and was informed by person 2. ******* that I would not be able to use my funds per the institutions rules set up. I was upset and informed them that I would like my money sent to another institution or else the police would be called to escalate.

    Business Response

    Date: 12/28/2023

    Dear ******************:

    Group Plan Administrators (GPA) provides administrative services for the ************************ Industry of ****** 401(k) ****************** Plan (the Plan).

    Earlier this month, ***************************** requested a withdrawal from his 401(k) account.
    Unfortunately, under the rules of the Plan, ************** does not yet qualify for a withdrawal.
    GPA has advised ********************** that he does not qualify and is sending him an official denial
    letter. The Plan is governed by the Employee Retirement Income Security Act and federal
    agency regulations, and so must adhere to the terms provided in its Plan Document.

    Nonetheless, GPA is working with ********************** to resolve his requestGPA has
    advised him of his ability to apply for a financial hardship exception, sent him the plan language
    explaining the criteria for a financial hardship, and informed him that he can request an
    application or discuss with GPA whether he qualifies. He has not done so. If **********************
    requests an application and applies, GPA will review the application and work with Mr.
    Manarpaac to determine whether he qualifies for a hardship withdrawal.

    We trust this is sufficient to resolve Mr. ********** complaint. Please reach out to me
    at ******************* if you have any further questions or concerns.

Group Plan Administrators, Inc. is NOT a BBB Accredited Business.

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