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:08/28/2023

  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.

  My previous employer was being acquired by another company so Transamerica contacted me to transfer my old 401K account to my new employers account. I submitted forms to do so but apparently my old company did not submit theirs before the acquisition so the transfer to the 401K account with my current employer never occurred (I was not notified). When I noticed the money was not transferred I contacted Transamerica MANY times. After many hours and phone calls it comes down to this: they are saying that they withdrew the money from my account and sent it over with all of the other funds from my old employer after their acquisition to OneAmerica (the new retirement benefit company), however the only records they have are of the withdrawal, not the transfer to OneAmerica. OneAmeirca says they never received it. The only thing that needs to happen is for Transamerica to produce a detailed record showing that my money was transferred to OneAmerica- if this did in fact transfer over OneAmerica can look into it from there -but without that there is nothing for them to look into.After many MANY phone calls to TransAmerica (with promises to call me back with updates, which has yet to happen) I have received various different explanations as to where my money is but my frequent requests for them merely to produce the paperwork that shows the transfer to OneAmerica is not something they have been able to do- so I would like an audit of that account transfer to force them to show me the records.

  Business Response

  Date: 08/30/2023

  Transamerica will respond directly to the participant regarding their account. 

  Customer Answer

  Date: 09/08/2023

   
  Complaint: 20531928
  
  I am rejecting this response because: This business was still not able to provide documentation of my money transfer to OneAmerica. I contacted them again when they responded and nobody has reached back out.
  
  Sincerely,
  
  *******************************

  Business Response

  Date: 09/11/2023

  Transamerica has responded to all inquiries from the participant with information regarding their account and we consider this matter closed

• Initial Complaint

  Date:06/07/2023

  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.

  For over the past month I have received the run around regarding initiating a rollover of my 401k that has been sitting in limbo for the past year. I received messages that my company needs to reflect my end date which resulted in several back and forth calls. When it was resolved I tried to actual complete the rollover and several call all ended with there is a system error preventing the rollover. EACH TIME I CALLED...a new rep would give false assurance that it was minor glitch to call back. Do you know how long the average wait is to call and get through to Transamerica 30-1.5hrs of waiting. But to make matters worse today June 6th ******************************************************************** my life where I called I received the call back and explain that I would like to speak to a supervisor in regards to my retirement account and was denied to speak to any supervisor and that the woman allegedly named ******* stated that she would not authenticate my account and prevented me from speaking to a supervisor was very disrespectful and defiant and incompetent and hung up the phone on me after I waited hours to speak to someone. In calling back I spoke to a ******* who was no better and very immature and challenging and argumentative but at least did connect me to a supervisor **** who was monotone and disinterested and spoke to me as if he was reading from a script it is the worst customer service that I have ever experienced from any company and to know that I had my 401k held with them I would never return and have any services or any involvement my money will not make a dent into this company however if this is what one can expect from customer service from any company let alone Transamerica we have some serious problems that is really going to take a bad turn. I requested to make a formal complaint and was told that it would be handled yet I doubt it and so I'm leaving this message here on the Better Business Bureau.

  Business Response

  Date: 06/07/2023

  Transamerica will be responding to the participant's complaint directly.

  Customer Answer

  Date: 06/07/2023

   
  Complaint: 20152891
  
  I am rejecting this response because: I have not received at the time of this message a direct call or email about this complaint to deem this satisfactory. 
  
  Sincerely,
  
  *************************

  Business Response

  Date: 06/08/2023

  Transamerica has responded to the participant directly. 

• Initial Complaint

  Date:05/23/2023

  Type:Billing 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 have a 401k account from a previous term with my current company. I have fees on my statements which are far beyond the fees stated online. I contacted them by phone, spoke with two different people on 2 calls, who could not explain the fees. I have read all the documentation for my plan and the fees make no sense. I asked my employer to explain the fees, and they got no where. There doesn't seem to be a live person with any knowledge willing to audit my account and explain the fees. That is what I want. I suspect I am being overcharged and have been for years. So, I will want an adjustment and refund when the facts are known. I would like the name and number of a person willing to review my account and discuss it with me.

  Business Response

  Date: 05/23/2023

  Transamerica will be responding to the participant's complaint directly.

• Initial Complaint

  Date:05/18/2023

  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.

  Spoke with a rep about rollover options and sent a request from my institution. I was later informed that a TransAmerica (TA) form must be used. I requested and completed form on line w/rep as she rec, & was informed I needed o have spouse complete a notarized form. It was emailed to me. He completed and I uploaded it successfully. On 5/15/23, I received a series of emails 1. My distribution was processed successfully, 2. I made a change to my email address (which I did not), 3. My distribution for 5/15/23 was canceled at my request (I nvr made request). I immed checked my acct online and my balance was zero. I called TA and spoke w/****. He said he saw cancelation but didn't know why bc I did everything correctly. He "didn't see" emails I was referring to. He said my $1,971.79 was sent to the bank requested. He couldn't give me a conf# or any transaction details. I asked him again to confirm where it was sent. He said to the bank I put on the request form. We went back and forth and at one point he asked me if I banked with ***** Fargo. After an alarming "No!" He said he only asked bc they take longer than others to process request. He never provided any details regarding my transfer or why it reflects canceled by me. He placed me on hold to confer with his supervisor and returned with instructions to apologize, no explanation for emails, and confirmed that the $1,971.79 was received from the mutual fund ** and it should be sent out that day (5/15) to my rollover account and deposited NLT the next business day. I checked the next day, nothing was deposited. I checked and called on the 17th and confirmed with my institution that nothing was received or was pending. I checked my TA account this morning and it shows a zero balance, a cancelation at my request, which is totally false. My attempts to "view details " failed. This is unheard of. I Googled TA issues and read in horror. I am demanding my rollover request be processed ASAP and false info removed.

  Business Response

  Date: 05/18/2023

  Transamerica will be responding to the participant's complaint directly. 

• Initial Complaint

  Date:04/10/2023

  Type:Customer Service 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 initiated a lump sum retirement distribution in early February 2023 for an April 1, 2023 disbursement. Filled out the paperwork, signed, notarized, attached identification and uploaded. Everything was reviewed and accepted. Account timeline also verified that the documentation was received, confirmed and scheduled for an April 1 disbursement. No money arrived and I phoned customer service. They verified that everything was in order. Bank account number and routing number verified as well. I was then instructed to wait a couple of days. In the meantime they would request a trace number. During this time I phoned my bank to see if they could see anything pending on the back end and I was told they could not. I phoned customer service back on April 5th and found out that there was no trace number because the payment was not processed. I was turned over to a supervisor and was told that a system upgrade was taking place during the time of my payment and the transaction did not go through. The supervisor told me he will work with the processing department to investigate and correct the issue. I phoned back on April 10th. No updates. I then asked to speak to a manager was told that none of the supervisors have managers. I asked to speak with a different supervisor and he told me they are very busy. I said I'd hold. He put me on a brief hold and said no one was available and assured me he has escalated the issue and will let me know as soon as he has an answer. I tried starting over by phoning customer service hoping to get a new supervisor. I was told they would put me back in touch with the same supervisor as he is the one referenced in the "case" notes. I asked for a case number. I was told there isn't one. I asked for a number to the processing department. I was told they don't have phones, which I take to mean they don't take calls from the public. This borderlines on criminal behavior.

  Business Response

  Date: 04/10/2023

  Transamerica will be communicating directly to the participant to assist with resolving their concerns. 

  Customer Answer

  Date: 04/11/2023

   
  Complaint: 19917859
  
  I am rejecting this response because: 

  They have been looking into it and the only response i get is that there are no new updates regarding when the payment will be issued.  After speaking with the same supervisor again yesterday afternoon, he said that they can't re-issue the payment until the old payment is reversed on their back-end.  They've had plenty of time to reverse a payment THAT NEVER WAS ISSUED.

  I'm requesting prompt attention.

  Sincerely,
  
  *******************************

  Business Response

  Date: 04/24/2023

  Transamerica has worked with the participant directly and resolved her concerns as of 04/11/2023.

  Customer Answer

  Date: 04/24/2023

   
  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.
  
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:03/28/2023

  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.

  I left my former employer and I am trying to get my pension but Transamerica refuses to give me my money .

  Business Response

  Date: 03/28/2023

  Transamerica will be communicating directly to the participant to advise of the plan procedures for termination.

• Initial Complaint

  Date:03/14/2023

  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 have been trying to get my pension for over a year , its always I didnt sigh something or I didnt initial a page , why make it so hard.

  Business Response

  Date: 03/14/2023

  Transamerica understands the concerns of our participants and will reach out to the participant directly to resolve. 

• Initial Complaint

  Date:02/13/2023

  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.

  TransAmerica is refusing to release my funds. I joined a 401k plan in 12/22/2022 in which I had 90 days to cancel in order to receive a full refund. I canceled on 01/13/23 and they are refusing to release my funds. I asked for documentation verifying the reason for them keeping the funds and have yet to receive anything. They are stealing!

  Business Response

  Date: 02/13/2023

  Transamerica will review and communicate directly with this participant to resolve any concerns/questions.

  Customer Answer

  Date: 02/14/2023

   
  Complaint: 19385462
  
  I am rejecting this response because: 
  I have been trying to get this resolved for a month now. They are just trying to stall until I have reached 90 days and they dont have to refund the money. When I actually cancelled on 01/13/2023.

  
  Sincerely,
  
  Tea ******

  Business Response

  Date: 02/14/2023

  Transamerica has reached out to the participant to advise of the status of the complaint and any pending resolution. 

• Initial Complaint

  Date:02/13/2023

  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 am an 83 years old retired X Ray tech., from ***********************************************, I am disabled in a wheelchair. Transamerica is administering my 403 retirement plan set up by the employer. In 2021, did not receive my *** check. Called and found it was mailed to my,former address,prior to 2016, in ********** **. Transamerica reissued a new check and promised to correct the error. In 2022, again I did not receive the *** check and on 11/29 /22 calling customer service, ****, found out that it was again mailed to the same wrong address, and the check was cashed on 11/28/22, so they have to investigate. Not getting a reply, on 12/10 I called. ***** told me that was no progress . On 12/19 ***** called and stated that because is a fraud we need to notify the police. He sent a copy of the check which had a scribble instead of my signature, but the bank stamp on the back was unreadable. The ***************** sent an officer, took the report , opened a case, but stated that they need to know the bank and the branch location where was cashed. We notified ***** , and on 12/21/22 he e mailed indicating that the check was paid by ***** *********** but no branch location . We forwarded the e mail to the police. they mentioned that they will issue a report but without the location where the check was cashed the report is incomplete and the Police in ************** could not use it to investigate. We called ***** again to clarify and another person , ****, answered who told me that now I need to file an affidavit, which he sent the form, but will need to be signed by a public notary. I, being in a wheelchair, can not go to a public notary and for a mobile service coming to our house will charge$100-$125. Why should I pay for their mistake? Called *****, mentioned this fact and he stated that it is my problem. As all was because of their mistake, mailing the check to the wrong address twice, they should solve it. NOTE. Presently, I rolled over my account

  Business Response

  Date: 02/13/2023

  Transamerica appreciates our participant's concerns and will contact the client directly to resolve.  

  Customer Answer

  Date: 02/13/2023

   
  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.
  
  Sincerely,
  
  *************************

• Initial Complaint

  Date:02/10/2023

  Type:Billing 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 requested to roll my retirement account to a new retirement account with fidelity. i only recieve automatic emails that my request can not be processed.

  Business Response

  Date: 02/10/2023

  Transamerica Retirement Solutions will review this participant's concerns and work directly with them to provide any resolution.