National Research Lab, Inc.

ICMA Retirement Corporation (“ICMA-RC") received a complaint from the Revdex.com serving Metro Washington, DC and Eastern Pennsylvania, dated April 21, 2016. The complaint informed ICMA-RC that one of our customers had applied for an unforeseeable emergency withdrawal from his IRC Section 457 plan and has...

not yet received approval.The customer participates in a Section 457 deferred compensation plan which allows a portion of current income to be contributed and taxes to be deferred until the assets are withdrawn during retirement. Strict rules apply to the receipt of these assets prior to retirement because of their tax deferred status. An unforeseeable emergency withdrawal request may be fulfilled only under very severe circumstances, and must be fully documented.The documentation we received from this customer is insufficient. We tried to obtain additional confirmation from the medical provider who issued the invoice that the customer provided to us. The medical provider does have a record of the invoice, but the name and address Of the person who received the invoice from the provider do not match that of our customer. We have presented this information to the plan sponsor, who is currently reviewing the information.ICMA-RC is confident that our process for reviewing this customer's request has been in keeping with IRS requirements. If you have any questions or concerns, please feel free to contact me at the contact information provided below.Sincerely,David T[redacted]

ICMA Retirement Corporation ("ICMA-RC") received the attached complaint from the Revdex.com serving Metro Washington, DC and Eastern Pennsylvania, dated May 9, 2016. The complaint informed ICMA-RC that the beneficiary of one of our customers was having difficulty establishing a beneficiary account and...

transferring assets into the account. ICMA-RC records indicate that the beneficiary account was established and the assets transferred on May 9, 2016. Monthly installments have been set up at the request of Mrs. Tsai, and a call was placed to her on May 10, 2016 to confirm that the District of Columbia had approved the request and it had been processed.ICMA-RC's and the District of Columbia's document review process took additional time in large part because the marriage certificate was in Chinese. ICMA-RC is confident that the customer's request has been completed. If you have any questions or concerns, please feel free to contact me at the contact information provided below.Sincerely,Casandra W[redacted] Director, Client Services

ICMA Retirement Corporation ("ICMA-RC") received a complaint from the Revdex.com serving Metro Washington, DC and Eastern Pennsylvania, dated July 14, 2016. The complaint informed ICMA-RC that a rollover distribution check that we issued on June 23, 2016, had not been received by the credit union holding...

the customer's account. We received the customer's request for rollover on June 20 and redeemed the amount from her account on June 22, after we reached her by telephone to clarify the bank's address. We mailed the check on June 23, but it was not credited to her bank account until July 18. We have made our representatives aware of her complaint with the intent to ensure that we are providing the correct information to our customers regarding rollover procedures, stop payment requests, and special escalation procedures when customers report non-receipt. ICMA-RC is confident that this response will resolve the customer's complaint. If you have any questions or concerns, please feel free to contact me using the information provided below.Sincerely,Margot *. T[redacted]Managing Vice President, Client Services

Dear [redacted]:This letter is in response to your letter dated February 6, 2018, addressed to [redacted], regarding a complaint filed with the Revdex.com of Metropolitan Washington, DC and Eastern Pennsylvania ("the Revdex.com"). I apologize for our delayed response. ICMA-RC recently...

implemented a new spam filter, and this complaint was caught by the filter, so we did not receive actual notice of the complaint until after the deadline to respond.According to your letter, the Revdex.com received a complaint from a participant regarding the attempted payment of a loan via a retirement account administered by ICMA Retirement Corporation ("ICMARC").As indicated in the Revdex.com complaint, the participant contacted ICMA-RC to confirm information regarding the loan payment, and subsequent eligibility to take another loan. The participant indicated she received inconsistent information and inadequate, unprofessional customer service, and subsequently contacted the ???.ICMA-RC received your notice of complaint. Subsequently, a Senior Manager at ICMA-RC reached out to the participant on behalf of ICMA-RC and explained the situation. The loan information she received was inconsistent due to the transition from a prior provider where the loan was originated. He further explained the issue with allowing another loan, which is precluded by IRS regulations, and offered the participant options regarding how she would like to proceed. The Senior Manager apologized for the difficulties she encountered. The participant was satisfied with this explanation and response. In addition, the original Associate who spoke with the participant received training on his handling of the situation.If you have any questions or concerns, please feel free to contact me at the contact information provided below.Sincerely,Greg DVice President Client Services

Dear [redacted]:ICMA Retirement Corporation (“ICMA-RC") received a complaint from the Revdex.com serving Metro Washington, DC and Eastern Pennsylvania, dated March 23, 2016. The complaint informed ICMA-RC that one of our customers was given incorrect information by one of our field representatives that...

resulted in taxes being withheld from her rollover distribution.We do not have a record of that conversation, but in good faith we can make a correction to recoup her withheld taxes and redistribute the assets as a rollover, as she originally intended. We are working with her now to proceed with the correction.We also have made our representatives aware of her complaint with the intent to ensure that we are providing the correct information to our customers regarding rollover procedures.ICMA-RC is confident that this response will resolve the customer's complaint. If you have any questions or concerns, please feel free to contact me at the contact information provided below.Sincerely,David T[redacted]Senior Vice President, Client Services ###-###-####, extension [redacted]@icmarc.org

This letter is in response to your letter dated March 6, 2018, addressed to [redacted], regarding a complaint filed with the Revdex.com of Metropolitan Washington, DC, and Eastern Pennsylvania ("the Revdex.com"). According to your letter, the Revdex.com received a complaint from a participant...

regarding the attempted rollover of funds in his retirement account administered by ICMA Retirement Corporation (“ICMA-RC").As indicated in the Revdex.com complaint, the participant contacted ICMA-RC to facilitate the rollover of his account to a new 401(k) provider with his new employer. The participant indicated he received delays and experienced difficulties in processing the rollover, and subsequently contacted the Revdex.com.ICMA-RC received your notice of complaint. Subsequently, as a Managing Vice President at ICMA-RC, I reached out to the participant by telephone on behalf of ICMA-RC and confirmed he has received all the information needed to complete his rollover. We further discussed the details of the issues he encountered so that ICMA-RC can understand thoroughly what caused the issues and make improvements in the future. I apologized for the delays and difficulties he encountered. The participant appeared to be satisfied with this explanation and response.If you have any questions or concerns, please feel free to contact me at the contact informationprovided below.Sincerely,Margot L. T[redacted] Managing Vice President, Client Services ###-###-####, extension [redacted]@icmarc.org

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:
There was an email sent to me upon the receipt of the first request stating that all the paperwork was complete and nothing else was needed.  There was nothing done by the company to notify me that the paperwork was incorrect or incomplete.  during that time the market dropped.  It wasn't until I called that I was told that I needed to submit the request on their form.  There was a loss of over $20,000 in that time frame.
Regards,
[redacted]

[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.]
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.  Thanks for the prompt response, the clear communication, and the swift resolution.
Regards,
[redacted]