T. Rowe Price Misplaced My Rollover Check
November 17th, 2006 by Grant in: RetirementIn an effort to roll over my former employers IRA into my new employers 401(k), T. Rowe Price seems to have misplaced my roll over checks.
After waiting a few days after the paperwork had cleared, I noticed that only $300 of my $9,000+ roll over was deposited into my account.
After a quick inquiry to T. Rowe Price, they looked through their records and realized they’ve “misplaced” several checks totaling over $9,000! MISPLACED $9,000!
Fortunately, they have resolved the issue and will credit my account, including the prorated interest, effective on the date the first check was deposited into the account.
I’m not impressed to say the least, especially after how many hoops I had to jump through to roll over the money in the first place. But they made an honest mistake, and are making it right without any further hassle.
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December 3rd, 2006 at 1:25 pm
What was the outcome of this fiasco?
December 3rd, 2006 at 1:59 pm
Actually I’m still waiting on it.
The reply I got from T.Rowe Price indicated that it would take 10 business days to get the funds posted. That was November 17th.
With the Thanksgiving holiday, 10 business days was up last Friday.
If I don’t have the funds posted by the close of business on Monday, you’ll hear a heck of a story from a very irritated blogger!
-Grant
December 5th, 2006 at 6:58 pm
[…] A little over 3 weeks since T. Rowe Price “misplaced” over $9,000 worth of my retirement roll over, I’ve finally received word that they’ve deposited the balance into my account and backdated all purchases to the original roll over date. […]