Charlie's Drain Service

Millennium Trust takes complaints seriously, and it is our goal to utilize all forms of feedback to continuously improve our services.  We have fully investigated the issues you reported regarding your efforts to access and transfer your account.  It does not appear that our records agree...

with the information you have reported to the Revdex.com.  We have been in contact with you, and we have provided you with instructions on how to transfer your account.  You are free to transfer your account at any time, as long as we receive the documents and information required for processing.  First, we should clarify that we hold an individual retirement account (IRA) for you, not a 401(k).  You were a participant in a 401(k) plan sponsored by your former employer.  Most 401(k) plan documents contain language giving the plan sponsors authority to cash out or distribute funds for missing or unresponsive plan participants.  Under certain circumstances, 401(k) plan sponsors may establish an IRA for a former employee participant and distribute that participant’s funds from the 401(k) to an IRA.  Putting the funds into an IRA maintains the tax deferred status of those retirement assets until the rightful owner is located or is ready to direct other actions.   In 2014, your 401(k) plan sponsor must have determined that you were either missing or unresponsive to the notices they sent to you regarding your 401(k) options; and therefore, your 401(k) plan sponsor established a rollover IRA for your benefit with Millennium Trust.  During the establishment of your rollover IRA, Millennium Trust received the last known address on file with your 401(k) plan provider.  We sent a welcome letter to you at this address in July 2014.  The mail was not returned as undeliverable.    In 2015, we ran your address through an address verification process and the results showed that you no longer lived at the last known address on record.  In March 2016 we searched for you.  We mailed a post card to you at an address discovered through our search processes.  Our records show that you contacted us online in March 2016 in response to receiving that post card.  That is the first record we have of receiving contact from you.  Our records show that we called you on 3/18/16 and left a voicemail message.  We do not show any record of receiving contact from you again until 5/5/16 at 5:47 PM.  We called you back the next morning on 5/6/16 and provided outgoing transfer instructions and a link to our online account application.    We followed up with you by phone and email on 5/6/16, and one of our representatives provided you with her direct phone line for anything else you might need.   If you wish to take steps to transfer out your IRA, you should contact your new IRA provider and ask them how to proceed. They should have you complete a transfer form, which they will then sign and send to us for processing.  We will then need to verify your identity, as required by law, before we can process your outgoing IRA transfer.  For additional guidance on the process, please contact our client service representatives again by phone or email.

Millennium Trust takes client complaints seriously, and immediate action was taken to review and resolve the issues reported.  The client's transaction has now been completed, and we believe the issue is now resolved.  Our records show that we did provide responses and additional follow up...

with our client in 2012.  We do not show receipt of any account transaction directions in 2015. In July 2016, we received the client's transfer directions and began processing them.  We were in communication with our client during July and August regarding issues with identity verification.  There were some discrepancies on the information we received and additional items were needed to verify the identity of our client.  We completed processing of the client's transaction on September 6, 2016.  We appreciate our client's time and cooperation throughout this process, and we hope the client is now satisfied with the final resolution.

Initial Business Response /* (1000, 5, 2015/08/06) */
Contact Name and Title: Sharon [redacted], Compl Analyst
Contact Phone: [redacted]
Contact Email: s[redacted]@mtrustcompany.com
Millennium Trust takes complaints seriously and it is our goal to utilize all forms of feedback to continuously improve our...

products and services. Our clients' satisfaction is our number one goal. We have fully investigated the issue reported. We did ship our client's card by overnight delivery after processing, but it appears there was some confusion about the shipping date. As with any online order, processing is required before shipping occurs. Processing can sometimes take a few business days to complete, as it did here. We did not provide an option for overnight processing. We only provided the option to ship by regular mail or overnight after processing. We have contacted our client and confirmed that she received her card on July 31, 2015. We believe we have now resolved the issue with her directly.

We spoke to you directly after you filed this complaint, and we’re happy that the card issue you reported has now been resolved.  You called us one time about this issue prior to filing the complaint.  After that, you were calling the number on the pre-paid card, which belongs to the card...

issuer (not Millennium Trust).  We understand your frustration and confusion about whom to contact to resolve this issue; and we’re very sorry that we weren’t aware that the issue was still unresolved until we received this complaint. You requested a distribution from your Millennium Trust account on a pre-paid debit card.  Millennium Trust orders pre-paid cards through a bank.  Millennium Trust sends the money to the card issuer, who then prepares the card and mails it to the recipient.  The card issuer provides their own instructions on the card, in addition to their own service number for questions or issues with the card.  The card is not tied to the Millennium Trust account, and Millennium Trust does not service the cards. You were trying to move the funds from the card to your bank account.  The transfer from your card to your bank account did not work, and you contacted us once.  We asked you to contact the card issuer to resolve the problem with the card.  It appears that you contacted the card issuer and your bank multiple times without getting a resolution.  Unfortunately, Millennium Trust did not become aware that your issue with the card provider was unresolved until we received your complaint.  Once we became aware, we worked with you to quickly resolve the issue.   We are happy to have helped resolve the card issue, and we wish you the best.

Millennium Trust is mailing all statements to our client as requested. Our client should receive the year end 2014 and 2015 statements, along with a closing statement, by regular mail within the next few days. Our records show that we mailed a welcome kit in 2014 as well as the 2014 year end statement to the address on record at that time. Neither item was returned to us by the USPS as undeliverable.  We received notice that the address on record was invalid when we processed it through postal updating software in 2015.  We then marked the account as 'missing' and we did not send a 2015 year end statement.  We have confirmed that we did not charge for the 2015 statement.We hope this response fulfills everything as requested.

We are very sorry for the confusion about the fees involved with trading your account.   We had resolved the trading fees in part with you in August 2017, and we had agreed at that time to waive the fees that would occur when you decided to sell your assets.  We have now reached out...

to you directly as you requested through the Revdex.com, and we believe we’ve now resolved all the fee issues to your satisfaction. Your account was established for you at Millennium Trust in 2013 by your former retirement plan provider.  Your former plan provider should have provided you with notice prior to rolling your funds to Millennium Trust.  Once your account opened with us, we sent a packet to you explaining your options and providing a fee schedule. Your funds were initially invested in a money market account at the direction of your former retirement plan provider, and you were to direct the investments once you took control of the account.  Our records show that you contacted us in 2013 intending to transfer out your account.  Our records show that we never received a transfer form from your new provider and that we informed you of this in 2013 and again in 2014.  In July 2017, you contacted us and asked how much it would cost to continue the account.  We informed you of the annual account fee.  You then completed the online form to take control of your account, during which a full fee schedule was provided to you.  You began investing your account in July 2017 in traditional investments.   We spoke to you in August regarding the confusion about the fees involved, and at that time we agreed to waive the transaction fees.  We contacted you after receiving this complaint, and we agreed to credit you with the brokerage fees as a gesture of good faith.  We believe we have fully resolved all issues, and we have provided you with direct contact to one of our managers in case you have any remaining questions or concerns.   We wish you the best as you invest your retirement savings!

Millennium Trust obtained the transfer form yesterday, and the outgoing transfer to [redacted] completed processing today.

Initial Business Response /* (1000, 5, 2015/07/06) */
Contact Name and Title: J. [redacted], CCO
Contact Phone: [redacted]
Contact Email: [redacted]
Millennium Trust takes complaints seriously. We investigated the issue reported, and we confirm that the account transfer has...

been completed. We determined that the delay resulted from required identity verification processes. Our client quickly responded to our requests for all documents, and we completed our client's account transfer on June 25, 2015. We believe we have fully resolved the situation as requested, and we apologize for the additional time and documents we needed to verify our client's identity.

Initial Business Response /* (1000, 5, 2015/08/13) */
Contact Name and Title: Celia C. [redacted]
Contact Phone: [redacted]
Contact Email: [redacted]@mtrustcompany.com
Millennium Trust takes complaints seriously. It is our goal to use all forms of feedback to continuously improve our products and...

services. We investigated the issue reported, and we believe it has been resolved to our client's satisfaction. Our client's online access has been established.
We provided the online enrollment web access link to our client at her request on July 23, 2015. Our records indicate that our client attempted to enroll online on July 29, 2015 and July 30, 2015 using a different email address than what she previously provided to us. This caused the enrollment process to fail because our client's identity was not verified during enrollment. Our client informed us on July 30, 2015 that she had not received an email confirming her online enrollment. We instructed our client to complete the online enrollment again using the email address she originally provided for the account. Once our client did this, the enrollment system was able to verify her identity and complete her enrollment. Our client received a confirmation email and online access. We apologize for any inconvenience to our client, as we had to troubleshoot the issue to determine why the online enrollment was failing originally.

We take all complaints seriously, and we appreciate all client feedback. We have reviewed your account records.  Your automatic rollover IRA was established for you at Millennium Trust by your former 401(k) provider.  As you stated, we first spoke with you in July 2017 and we received...

your distribution paperwork later that month.  Our client service reps explained the distribution process and stated that it would take 30 to 60 days to close your account because you were directing the liquidation of your annuity.  Millennium Trust does not issue annuities (nor offer/sell any investments), and the length of time it takes for the annuity issuer to liquidate and remit payment to us is beyond our control.  Generally, we find it takes 30 to 60 days before we receive liquidated funds from the annuity issuer.  Once the funds are received, we can distribute the funds to you and close your IRA.  We are not charging or accruing additional fees to your IRA during this time. Our call center staff can see that paperwork is received, but they do not review the paperwork.  We understand your frustration in having confirmed our receipt of the driver’s license only to later be told that the fax was illegible.  We are working to create a better process to ensure our clients know of any issues such as this much sooner, and we appreciate your bringing this to our attention.  After the initial call from you in July 2017, we received several calls from a woman who claimed she was a man and falsely claimed she was you.  Your account was then flagged for identity theft and placed under high scrutiny for all transactions.  After reviewing all of your calls, we believe the woman claiming to be you was the woman on the phone with you during the initial call you made to us in July 2017.   We have not lost $100 for your account, as you’ve stated.  We were authorized to deduct certain IRA fees under the agreement we have with your former 401(k) provider to establish your automatic rollover IRA. We deducted the agreed upon fees at account opening.  Your former 401(k) plan provider directed the initial investment of your IRA into an annuity.  The value of your annuity has actually increased since the initial investment was made.  As a gesture of good faith, we will refund your IRA fees and expedite your payment at no additional cost, once we receive your funds. We will complete the processing of your distribution as soon as we receive the funds from your annuity issuer.  Thank you again for taking the time to provide us with feedback.  We hope our actions and this response resolves all your concerns.  We wish you the best with your future retirement planning.

We care about our clients, and we immediately reviewed your account once we received notice of your issue.  As you wrote, your account was established at Millennium Trust for you in 2005.  Your account was invested in a money market account.  Annual service fees were deducted...

according to our agreement with the plan provider who established your account for you.  We can provide you with a history of your account, including interest payments and fees, if you would wish.  If you had maintained current contact information with your prior plan, they should have notified you before they established your account with us.  Our records indicate that they may not have had current contact information for you, because we searched for you for years before we found you.  We conducted searches and sent notices to the best potential addresses for you in 2008, 2012, 2014 and 2016.  You responded to our search effort notice in 2016, and we were then in contact with you by phone and email.  You submitted an online distribution form to us, but your last name did not match the name on the account.  At the end of the online process, you were asked to provide documents to verify your name change and confirm your identity.  We sent a follow up email to you asking for name verification documents, but we did not receive a response.  We received your calls and we called you back, but there was no voicemail set up.  As a gesture of good faith, we have already talked to you about reversing some prior fees, and we believe you were happy with this resolution.  Please continue to work with our reps directly so that we can finish verifying your identity and promptly complete your distribution.  Please understand that laws under the US Patriot Act require us to verify the identity of every client before allowing them to take control of their accounts.  We want to get your funds to you as quickly as possible, but we need your help with identity verification before we can complete the process.  We wish you the best in your future retirement planning.

Millennium Trust takes complaints seriously, and we have fully investigated the issues you reported to the Revdex.com.  Your IRA was established for you at Millennium Trust in May 2015 by your former retirement plan provider, who agreed to the IRA fees by establishing the IRA.  We have reviewed...

the fees charged for the IRA services we provided and confirmed that they were correctly charged.  Your former retirement plan provider established the IRA on your behalf and rolled over your retirement funds from the plan into your IRA.  If you maintained your current address with your former plan provider, you should have received advance notice from them allowing a certain timeframe for you to take action, if you did not wish for the IRA at Millennium Trust to be established for you.  Millennium Trust is not responsible for any actions of your former retirement plan provider. Your retirement funds were preserved in an IRA established by your former retirement plan provider for your benefit.  Millennium Trust correctly deducted IRA service fees as agreed upon and as authorized by the agreement with your former plan provider; and therefore, no fees will be refunded.  We are sorry for your displeasure with the situation, but Millennium Trust provided IRA services as agreed upon for fees as agreed upon.  We wish you the best in your future retirement planning.

Millennium
Trust takes complaints seriously and it is our goal to utilize all forms of
feedback to continuously improve our products and services. We have fully
investigated the issue reported and believe the issue is being resolved.  It was our client’s responsibility under his
account...

agreement to provide us with current valuations for the private stock
he held in his account.  Millennium Trust
does not offer or provide valuation services for this type of alternative
investment.  In 2013, Millennium Trust
closed this client’s account because he had not paid his account fees.  His private stock shares (not cash) were
distributed in-kind to him when the account was closed. The 1099 originally
issued for the 2013 distribution correctly reported the most current valuation
Millennium Trust had received at the time of distribution, in accordance with
his account agreement.  Over two years
after the distribution, on November 2, 2015, our client provided us with documents
showing that a stock split had occurred prior to the 2013 distribution which resulted
in a decrease in his private stock value.  Based on this new documentation, Millennium Trust can submit a revised [redacted] for 2013.  A fee payment may be
required in advance, however, as it was the client’s responsibility to pay his
account fees and to ensure that accurate values for his private stock were
provided to Millennium Trust on a timely basis.

Initial Business Response /* (1000, 5, 2015/07/28) */
Contact Name and Title: Celia[redacted]
Contact Phone: [redacted]
Contact Email: [redacted]@mtrustcompany.com
Millennium Trust takes complaints seriously. It is our goal to use all forms of feedback to continuously improve our products and services. ...

We investigated the issue reported and we believe it has been resolved to our client's satisfaction.
We processed our client's online rollover distribution on June 15, 2015. On June 30, 2015, we received our client's rollover paperwork to sign but our client's last name on the form did not match the last name in our records. We requested documents and confirmed our client's name change. Our client fully cooperated and quickly provided us with additional documents. Our records indicate that on July 2, 2015, we mailed the signed rollover paperwork to the client's address of record. On July 14, 2015, the client contacted us and informed us that she had not received the signed rollover paperwork. On July 14, 2015, we mailed a second copy to the address of record; and we confirmed on July 20, 2015 with our client that it was received. We appreciate our client's cooperation in resolving this matter.

Thank you for alerting us to your concern about your account fees.  As a gesture of good faith, we will reverse the $75 fee as you’ve requested.   Please note, however, that our records indicate that you have not yet provided the information we need to verify your identity as the...

rightful account owner.  We sent an online link to you, through which you can complete the forms required to take ownership of your account and confirm your current address.  Please complete this process to take control of your account.  Your account was opened for you in May 2015 as an automatic rollover by your former retirement plan provider, who agreed to the fees when establishing your account.  After the account was opened, we discovered that the address we received for you from your former plan provider appeared to be out-of-date, so we searched for potential current addresses for you.  In cases where we can validate that the address we received appears to be current, upon opening a new account we mail a welcome packet that includes the fee schedule.  In your case, we had to search for you and could not be certain that we found the correct address; so instead of a full welcome packet, we mailed a letter to you in May 2015 at address returned in our search.  You first contacted us in June 2015, and we discussed the options available and provided you with instructions on how to transfer your account.  We received transfer instructions in 2015 and followed up to obtain the additional items that were needed, but we did not receive the items.  We contacted you again in December 2015 and also in 2016.To confirm that the new address we found for you is valid and that we have in fact found you (the rightful owner of this account), we take steps to verify your identity.  This can be accomplished by your completion of the forms through the online link we provided to you.  Alternatively, the forms can be provided to you on paper or by PDF – whatever method you prefer. We appreciate the time you took to inform us of your concern, and we hope our actions meet with your satisfaction.  Please contact our client service representatives for any additional help you may need with your account.  We are happy to have reconnected you with your retirement funds, and it is our pleasure to assist you throughout this process.

Millennium Trust takes complaints seriously, and we sincerely appreciate the time you took to address us.  We have fully investigated the matters you reported to the Revdex.com.  Our records show you submitted a distribution direction for a partial distribution of $4000 from your account on...

June 20, 2016, which we processed on June 21, 2016 by ACH to your bank.  You elected a 10% withholding from the amount of the distribution, which reduced your payout by 10% or $400.  On June 23, 2016, we received notice from the bank that your ACH was rejected.  The ACH information you provided to us was incorrect, which caused it to be rejected.  We informed you on June 23, 2016 that the ACH we sent was rejected and we needed a copy of a voided check to confirm your bank information in order to re-issue the ACH.  You replied asking why your distribution had not been processed.  The next day, June 24, 2016, we spoke to you on the phone and explained the situation.  You admitted you did not list your bank account number on the form as required for processing ACH payments; this is why the ACH did not go through when we processed it using the numbers you provided.  That day, we stayed in contact with you while your bank was trying to fax your information to us for ACH processing, and we then called your bank to obtain your account information for you.  We processed your payment by ACH again on June 27, 2016 for the original amount you directed ($4000), minus the 10% federal withholding ($400); so you received $3600. Please note that you directed a partial distribution of your account for a specific dollar amount.  You did not elect to take a complete distribution of your account and you entered a dollar amount that was less than the listed value of your account.  You still have funds here and your account is still open.  Perhaps these additional funds are the funds you thought were missing. If you wish to take the remaining funds and close your account, you may do so at any time by following the same process you followed on your first distribution.  We thank you for your feedback, and we hope this information clears up any confusion regarding your funds.  Please contact us if you wish to discuss your account details or direct any additional transactions.

Millennium Trust provides services that help Americans save for retirement.  We believe in the importance of what we do, and we work hard to find and reconnect people to retirement savings they left behind.Like any business, we charge for the services we provide. We do not provide advice...

and we do not direct your investments.  For your IRA, Millennium Trust charges an annual custody fee and a search fee to locate you if we become aware that your address of record is out-of-date. Your automatic rollover IRA was established in July 2010 for you at Millennium Trust by your former 401k plan provider.  To establish your IRA, your 401k provider agreed to the IRA fees and directed us to hold your funds in an FDIC insured cash money market designed to preserve principal.  Your 401k plan rolled over $920.42 to your IRA.  We discovered that the address provided to us by your 401k plan was out-of-date, so we searched for you.  We found a potential new address through our search efforts, and we mailed a postcard to you in 2011 asking you to contact us to claim your funds.  You first contacted us in 2012, and we explained your IRA options.  You did not take any action to claim your account, make investments, or move your funds. You contacted us again in 2013 and we sent an online link to you, through which you can complete the forms required to take ownership of your account and verify your identity as the rightful account owner.  You did not take action.  You contacted us next in 2018, and we provided you with a link to the online forms again. Our records indicate that you have not yet provided the documentation we need to verify your identity as the rightful owner of the IRA to take control of your account. As a first step, please complete the process to take control of your account.  As a gesture of good faith, we have already reversed the search fees for searches conducted after 2013. We are very sorry that you are not satisfied with our fees.  You do have options available to you to grow your retirement funds. You may add funds and direct investments to grow your retirement savings, or you may choose to consolidate your funds into another IRA or 401k plan.  You may even choose to withdraw your funds and pay taxes and the IRS early withdrawal penalty. Whatever path you determine is right for you and your retirement savings, please contact our client service representatives for any additional help you may need to start the process by taking control of your account through our online forms.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution is satisfactory to me.
Sincerely,
[redacted]

After receiving notice of this complaint, we reviewed the account and saw that a resolution was already underway. We issued the client’s payment on April 12, 2017, and we shipped it to her via [redacted] overnight delivery free of charge. We did not have all the information and documents needed to complete the client’s distribution until March 27, 2017. This account has an annual account fee, which was charged upon account opening in December 2016; and the account did not lose any value during the time our client was working with us on her distribution.
This account was opened for our client by her former retirement plan provider on December 21, 2016. The address provided to us for our client was invalid, so we ran a search to find potential current addresses. Our search efforts were a success. As a result, we were able to quickly find and connect our client to her retirement funds. We first spoke to our client on January 31, 2017. At that time, we explained the options available to her with her IRA.
On March 9, 2017, we received the client’s IRA distribution form dated March 6, 2017. The form did not contain the client’s handwritten signature. A signature guarantee stamp was missing. The payment section was blank. The client had completed the “systematic payment” section in error. Systematic payments are a series of IRA payments made to a client; however, our client wanted a lump sum distribution. Our records indicate that we spoke to our client on March 9 and March 10 about the issues with the form.
On March 23, 2017, we received the client’s updated distribution form dated March 14, 2017. It contained her handwritten signature and a signature guarantee. For this type of account, the IRA owner’s identity has to be verified when the IRA owner takes control of the account, which occurred here when the IRA owner submitted her IRA distribution form. We requested a copy of her driver’s license to help verify her identity and confirm her current address, and we received a copy on March 24, 2017. On March 27, 2017, as we worked to complete the processing of her distribution, we noticed that the ABA# she provided was invalid. A payment cannot be processed with an invalid ABA#. We informed the client of this and also asked her to provide verification of her tax identification number, as it did not match the number provided to us to open the account. On April 10, 2017, we followed up to request a copy of the client’s social security card; and then we took additional actions to verify the social security number she provided. On April 11, 2017, we informed the client that she did not need to provide any additional documentation. We informed our client that we would overnight her payment to her, at no charge. We shipped her payment to her April 12, 2017, and we provided her with the tracking number for the shipment.
We actively try to find our missing clients quickly and reunite them with their retirement funds, and we did that here. We feel that we responded quickly to our client’s requests and direction for payment. We apologize for the last delay in processing as we were trying to resolve the discrepancy on the social security numbers, between March 27, 2017 and April 12, 2017.  We did find an alternative solution to resolve the discrepancy. We hope this response and the completion of our client’s IRA distribution resolves the issues reported in the complaint.  We wish our client the best, and we are happy to have reunited her with her retirement funds.

Millennium Trust takes complaints seriously, and we immediately reviewed your account in light of the issues you reported.  You should now be in receipt of your funds, as we delivered them electronically to your bank on 2/10/17 [note that the receiving bank can take up to 72 hours to process...

and release electronically received funds].  On 2/13/17 we left a voicemail to you to confirm completion of the electronic delivery (ACH).  We provided you with the ACH trace number and a direct phone number for one of our reps in case you had any questions or concerns. Your account at Millennium Trust was established for you on 12/26/16 by your former 401k plan provider.  Our records show we spoke with you on 1/6/17 regarding how to distribute your account funds.  We received your online distribution direction on 1/10/17. You elected to receive payment by check sent through regular USPS mail.  A note online informed you that payments would ship approximately within 7 business days.  We mailed your check on 1/12/17 (just 2 business days after your direction was received).  The check was sent by first-class USPS mail to the address you provided.  We have bank records and a copy of the check showing these transactions were completed. We are very sorry that you did not receive the check we mailed.  We acknowledge that you contacted us on 1/20 and 1/24 stating that you still had not received the check.  Once you notified us on 1/31 that you wanted to stop payment on the check, it took a week to process everything including the stop payment, the re-opening of your account, the transaction cancellations, and the full reversal all the funds back into your account. You submitted your electronic (ACH) distribution instructions to us on 2/7/17, and we processed your electronic disbursement on 2/10/17. We strive to provide excellent and timely service to all of our clients, and we want our clients to be connected to their retirement funds as quickly as possible.  We provided very timely service processing on your original distribution by mailing a check to you in two days.  We are very sorry the UPSP did not deliver your check, and it is unfortunate when something beyond our control creates a poor experience for our customer.  The postal delivery problem resulted in delaying your access to your funds.  Correcting for the USPS failure required additional processing that we had to complete before we could re-issue your payment by electronic delivery.  We sincerely apologize that the events involved created a delay and a poor experience for you.