I was on hold with my former HR employer yesterday, as I still must go through them to be connected with the management group that “manages” my 401K. I am retired but still have access through HR to access the management group. It is more complicated than it should be. You go through the identify yourself procedures…….then your password and then a code they send to you to confirm you are who you say you are. I get and appreciate all the security precautions. HOWEVER!
Yesterday, I spent two hours on hold with HR just to get connected to the management group I mentioned above. I was then placed on hold with them………for two more hours, a total of over 4 hours on hold. I wanted some investment advice, to see if I should do anything with my 401K, like mix it up a bit……etc.
This morning, I tried again. Thankfully I reached HR about 15 minutes after being placed on hold again. They do explain upfront we may experience long delays due to the “CORONAVIRUS COVID-19”. That I expected, I have always been placed on hold when calling HR, even when I was still working. Here is another HOWEVER, the HR person informed me the management group…….ALIGHT by the way was CLOSED! Okay I get it they are in NY. WHY DIDN’T ANYONE TELL ME THAT YESTERDAY, WHILE I WAS ON HOLD FOR 4 FREAKING HOURS?
Like everyone else, I am sure, my 401K is losing money……lots of money daily. So I am rolling it over to something else a bit more safer. I hope!
Took things into my own hands, made the choice without any management financial advice. Completed an on line application for the rollover (IRA)…………hopefully it is completed before I have lost it all! Times are difficult……..even communication apparently! I’m sure somebody will come back and say “Oh you shouldn’t have done that, be more patient”. RIGHT! Patience has worn thin.
Have a great day. By the way, it was my choice and only my choice to make.