When Tina Holt switched jobs back in September, there was a gap between the time one job ended and the new one began.
"I decided to go ahead and cash out my 401(k) so that I had, you know, money to tide me over between and everything," Holt said.
Holt submitted her request to Mutual of America, the company that managed her 401(k) account. Holt received confirmation of the request via email which stated, "We received your information and if you requested a direct deposit, you'll have it within five business days."
"So, I waited and I never got the money," Holt said.
Holt made numerous calls to find out what was causing the delay, saying, "Almost 40 times in two months, just constantly because I would sit on hold for 2 or 3 hours and then it would disconnect me."
While waiting for the money, Holt faced another challenge as she suddenly had to take in three children.
"My 11-year-old granddaughter had just lost her mother to suicide and I had taken her in. I found out that her two siblings were put in foster care. I was desperate and under a financial strain and the stress of changing jobs, the stress of taking in three kids who had nothing," Holt said.
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That's when Holt reached out to NBC 5 Responds, saying, "I thought, you know, I'm going to reach out to them because I've seen them help other people and it's worth a shot."
We contacted Mutual of America and within days, they were able to resolve the matter by completing the withdrawal request for over $20,000.
"And it was a miracle, I mean, you guys are magic. I cannot say enough good things," Holt said.
Mutual of America explained the delay in a statement saying, in part, "We sincerely apologize...this service delay occurred due to operational issues we experienced following the launch of a major transformation initiative to upgrade our core technology platform and update our record-keeping system."
If you're experiencing a delay getting your money or have consumer questions or concerns, let us know by filling out our consumer complaint form.
