This is to warn potential clients of this firm. As the leading payroll mgt co in new jersey, formerly owned by the honorable Senator Frank Lautenberg, (who is rumored to still have a major share of its stock) it came as a great surprise to me as how inept they are at returning 401k money invested with them.

When selling their service to a workforce they provide plenty of information on how well they will manage your money, but never discuss how you go about getting your money back. After much grief I found out what this procedure is:

1. You file paperwork to rollover your account to your chosen financial manager.
2. They process your request on the last day of the month you make your request.
3. 60 days from the last day of the month of your request they send a check. (90 days)
4. If they lose one of your forms which it appears they do , the process stops, no one informs your plan administrator of said lost form until you ask "where the hell is my check?"
5. He inquires into a voice mail service and waits days for an answer. He refaxes the lost form, the process restarts and 60 days later no chk. You inquire , your administrator inquires, we mailed it they say. Not to me! you ans. oh we're sorry we mailed it to the plan administrator by mistake, so there you are 4 to 6 months later you get your money.

Talk about your bank floats, I suspect this is more common than people realize, and is only the tip of the iceberg. The government is ignoring the financial industry's abuse of 401k money. And you can bet your you know what, that Wall Street money will make sure no laws regulating this abuse will ever see the light of day.

Think about Wall Street managing your social security funds? Lots a luck.

-- Burned in the USA

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