Risk Compliance Performance Solutions

Review: My name is [redacted] and I am highly confused and upset with the process that is happening with my 401K retirement withdrawal. I spoke with [redacted] this morning after being directed to call RCP Solutions from [redacted] Retirement Services. She informed me that my check was no longer with RCP Solutions, and that it was now with another company called [redacted]. I was told that my check was with this company, because the software that this company uses, was unable to locate me and a current address. I find it very difficult to believe that this system was unable to locate me when the only address attempted to send information to was the address that was already on file with [redacted]. I have been at the same address for almost 2 years, in which if it is correct that this system attempted to find an address, it would be the same address at which I am currently living. The rep said that they attempted to run their computer software and send out a letter on 11/13/2012 after which they deducted fees and sent the balance to [redacted].When I called this [redacted] company they said that RCP Solutions only sent over $6.86 of my $48.86 retirement check. I know that $48.86 is a small amount but it is that small because [redacted] charged huge fees to rollover MY money into a new 401K plan.I would like for a representative from this company to send me the rules/regulations regarding the type of account that [redacted] contracted to RCP Solutions concerning my 401K distribution check.I do not believe that this company attempted to locate me using "software" as they use not being able to locate people as the excuse to deduct money from unclaimed checks. At no point was I even informed that a deduction had been made until I called [redacted].Desired Settlement: I want my original amount of $46.86 refunded to me by reissuing a new check.

Business

Response:

November 1, 2013

**. [redacted]

The Revdex.com

1880 John F. Kennedy Blvd. Suite 1330

Philadelphia, PA 19103

Dear **. [redacted],

Risk Compliance Performance Solutions LLC (aka RCP Solutions) is in receipt of your letter dated October 24, 2013.

We are hopeful that we can explain our position in reference to Case ID [redacted] concerning [redacted].

RCP Solutions was contracted by [redacted] to perform certain services in reference to a large un-cashed check population. As noted in the letter attached from [redacted], **. [redacted] requested and received a check from [redacted] in September 2011. This check was never cashed.

The RCP Solutions contracted process includes a review of each file sent to us from [redacted], a search of the participant’s records to determine if the participant is deceased and an outreach letter to those participants who are living. The first step of the process is to send the letters to the address of record. If there is no response to the letter, accounts with less than $1000 are rolled to an IRA provider ([redacted]). We follow the Department of Labor guidelines and our contract with [redacted].

The fee for the letter processing, treasury management and rollover preparation is $40 per account.

We work with companies like [redacted] to reunite retirement plan participants with their lost accounts and un-cashed checks. We have reunited thousands of participants and our philosophy has always been to be a participant advocate. We work with our clients to help them understand the Department of Labor required steps and in this particular case we have followed the steps and the account thresholds that were contracted by [redacted]. We follow the same process for all participants within the same threshold, in that we treat everyone equally according to the guidelines and process.

We have completed the work contracted for this particular participant and feel that we are not in the position to refund the fees given the work completed. **. [redacted] was given the monies previously and elected to not cash her check. The check became stale dated and was placed in a stale dated check process. **. [redacted]’s complaint is that we did not search for her hard enough. Our response is that we followed the guidelines of the contract presented to us by [redacted]. If **. [redacted] moved and did not update her records with [redacted] we would not have known this based on our process.

If you have any additional questions, please feel free to contact me at ###-###-####.

Sincerely,