Amanda Jehle

Review of Millennium Trust Company

Ugh. Do your best to avoid this company. As with m...

Ugh. Do your best to avoid this company. As with many others my 401k was sent to this company (without prior notification) when I left an old job. This is essentially an expensive purgatory for your money. They don't actually DO anything, it just sits there & they charge fees. First, they don't do ACAT transfers when you're trying to roll it over, so they mail you a physical check made-out to your new brokerage firm, which you then have mail to your new company. Nothing like trusting the USPS with thousands of your retirement dollars... twice. Then, I was transferring my money to a TSP (government retirement plan) & of course they require a specific form to be filled out by MT. So I fill out my portion of the form & email them a soft copy with VERY SPECIFIC instructions & number to FAX the form to TSP (because it's the government so there's a form for everything). Did they fax it? No. Did they let me know they couldn't, or more likely wouldn't, fax it? No. You know what they did? They emailed me a barely readable soft copy that I then had to print & fax to TSP. I'm still waiting to find out whether or not TSP will accept this garbage copy of the form. If not, I'm going to have to go through this process all over again. Meanwhile, TSP will only hold my check for 15 days before they mail it back. What should've been a simple roll-over has turned into a cluster. The only reason they even get 2 stars is because my Roth roll-over was super easy. They just dumped it into my bank account & I opened a Vanguard account with it.