My complaint:
My husband has worked for Mercy Hosipital in Durango for 27 yrs. They are owned by Catholic Health Initiatives. They carry all employees 401K match accounts, as well as company funded pensions. In 2014 ( my husband started employment at Mercy in 1995), someone from Fidelity came to my husband and stated they needed to roll his pension into an IRA. They had us sign a very weird contract to receive a $15k distribution and they (Fidelity) would roll over the remaining $28k. My husband continued to work at Mercy until a back injury and surgery forced him into retirement at age 71. He then called for his pension, and Fidelity then started lying, saying he took the entire amount in 2014 . We have our bank records for the entire year, and a copy of the check we received for the $15k distribution. There is no $28k anywhere on any of our bank records. We then were told by Fidelity, that the money was there and safe and they would call us back in a week. That was 3 months ago. We then heard a lie that the money was purged into the Colorado lost pension acct. Its not.
We then recently got a story from the Fraud Dept (I called them) that she had a signed and canceled check in her hand from July 8, 2017?? I again got all bank records for that year and nothing, and no IRS reporting of that supposed $28 was reported to them. She is supposed to mail us a copy of that check, but it is a lie, so there is no check. Fidelity puts us on forever holds, hangs up on us. They have sudden incompetence. No one knows anything. No records were kept and my husband never received anything about that pension since day 1. I called every year, worried that we needed something for the tax returns. Fidelity stated that since he had no more distributions, the IRS didnt need any info at all about that pension. We have been fighting with them for 5 months now and they all act so dumb. No one knows anything at all. They are all covering for each other.
I have a strong feeling this is not their first rodeo. They have been stealing for awhile,. They got their game on for this crime. We absolutely never received any $28K. They give us a different story each time we call. My own financial advisor called them about it (he owns LPL financial here in Durango for 25 yrs.) . He told me it was the weirdest conversation he ever had in his career. He told me it sounds like the 3 C’s . Confusion and chaos equal crime. I agree. They want us to just go away but we will not. My husband did not break his back for 27 yrs to have his pension stolen at this time of his life. I dont understand why they would purge his pension in 2017 with no notice , nothing at all. He worked at Mercy until 2021.
I have tons of records. Names and dates of Fidelity employees lying. They gave us an account for the lost pension at one point , but it has brought us zero information. What is our best action? The employer HR manager is working on the case too. But I am thinking that if Catholic Initiatives stole it back, we may be disappointed with the lack of info from them too. Please help. My husband is heart broken, and trusted people who were not to be trusted. They are awful (Fidelity) and I think the least I can do is warn others about them, and try to get my husbands pension that he so deserves Thank you so much
Suggested solution:
For one , I want my husban to get his hard earned pension. The second is I would like a full ethics report made on Fidelity. I would like to save others from this corrupt financial place. In my opinion, they should be audited. I would bet the farm that there numerous thefts would be found. They are really awful.
