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Old 02-27-2014, 09:41 AM   #21
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I got a reply from Principal. They have no transfer request on record.

When my wife and I did this a couple, or was it a few weeks ago, we called Principal and asked what the process was and could they help. They said it was easiest to do online. We did it online. Apparently not correctly. Clearly Principal has no interest in helping us move money out of their company.

I cant believe the state of corporate policies in this country. Its just incredible to me that one has to stumble through moving such a large amount of money and the companies involved seem disinterested in helping with the process.

A few years back it took me 8 months to get an IRA transferred out of Merrill Lynch. They denied receiving paperwork several times and dragged their feet in more ways than I can count.
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Old 02-27-2014, 09:51 AM   #22
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Originally Posted by rocks911 View Post
I got a reply from Principal. They have no transfer request on record.

When my wife and I did this a couple, or was it a few weeks ago, we called Principal and asked what the process was and could they help. They said it was easiest to do online. We did it online. Apparently not correctly. Clearly Principal has no interest in helping us move money out of their company.

I cant believe the state of corporate policies in this country. Its just incredible to me that one has to stumble through moving such a large amount of money and the companies involved seem disinterested in helping with the process.
So you're saying the money is still sitting at Principal. If Homeland got involved and flagged the transfer I wonder if your wife's name is similar or identical to someone on a watch list. Actually I wonder what the person with your wife's name did.

My last name is not common. In spite of that my wife's name is identical (first, middle initial, last) to another lady that lives in the same zip code we do. While they have never been mixed up in a harmful way, we have received calls from creditors trying to find her. This is one of the reasons why we dumped our land line. Since the other lady didn't have a phone and we did, we got all the "pay up deadbeat" calls that were meant for her.
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Old 02-27-2014, 10:04 AM   #23
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Rocks911,

Can you call Vanguard and have them initiate the transfer? That would seem to be the easiest. Seems they would have a vested interest in getting your money in their firm. Principal is losing on the deal.

I can understand your frustration, but at least you know where your funds are.
MRG
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Old 02-27-2014, 10:32 AM   #24
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Rocks911,

Can you call Vanguard and have them initiate the transfer? That would seem to be the easiest. Seems they would have a vested interest in getting your money in their firm. Principal is losing on the deal.
.....
MRG
I think I tried this when I initially opened my Vanguard IRA about 2 years ago but they had no way to "pull" the money (initiate the transfer). All they could do was open a fund/account with $0 balance and wait for the check. BTW - my 401K is/was managed by BlackRock (Ughhh).
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