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Old 04-24-2015, 07:25 PM
 
Location: Ft. Myers
19,726 posts, read 13,126,120 times
Reputation: 41642

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I just got a letter from Millennium Trust Company in Bedford Park, Il, telling me that I had a 401K that was left behind when I quit a company I used to work for. It hints that I have money still sitting there.

The scary part is that it says "In order to claim your IRA, please contact us to begin the account verification process." Makes me think I will have to give them some of my personal information, like SS number etc, that is what bothers me the most.

I tried Googling them and found very little. Does anyone know about them or have experience with them? Legit or scam ?

Thanks,


Don
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Old 04-24-2015, 08:08 PM
 
Location: 23.7 million to 162 million miles North of Venus
7,089 posts, read 5,682,264 times
Reputation: 4969
Most likely that company is similar to those who go through the unclaimed property databases to gain info, and try to get the people to go with them to get the unclaimed property for a fee (though unclaimed 401k's are listed under a different database). I bet that company doesn't actually have the 401k, they just want your info, and your bucks, to get it for you.

Here is a link that you may find helpful to track and collect on that 401k and to bypass that company to get it ..
How do I find / locate an old 401(k)? - 401khelpcenter.com
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Old 04-24-2015, 08:21 PM
 
Location: Wilmington NC
6,026 posts, read 5,814,152 times
Reputation: 15284
I had a 401k that was sold to Millennium Trust after I left an employer.

It wasn't a scam, it was legit.

However, they charged service charges that I felt were silly, so I rolled it over to my Fidelity Account. I had to contact Fidelity and send Millenium a form and it was done.
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Old 03-09-2016, 09:24 AM
 
1 posts, read 42,766 times
Reputation: 13
My 401k plan was sold to Millennium. I have asked on several occasions, by telecom and internet, regarding the status of my account. This is the statement that is provided: "Your account information has been successfully submitted. We will be in contact with you within 10 business days regarding your account." That was October 27, 2015, 09:50 PM CST. To date, I am still awaiting a response. Help!
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Old 03-09-2016, 12:22 PM
 
1,260 posts, read 1,724,153 times
Reputation: 1395
My husband was forced to roll over his 401k into the Millennium Trust when his company got bought. They are legit.
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Old 09-14-2016, 10:18 PM
 
1 posts, read 41,155 times
Reputation: 10
Default I received the same letter for My Wife

I just received the same letter for My Wife and as others are posting, I find little in support of this "Company". When the letter asks for Your SS# over the phone, I would be very weary as well. Releasing such information over the phone is a Owner beware situation. I hope this helps others.
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Old 09-15-2016, 02:18 PM
 
Location: Florida
5,143 posts, read 4,508,618 times
Reputation: 5290
Seems strange. From what I know about 401k administration this does not make sense.

You should search "escheat state of xxxx" for each state you worked in to see if the state has any funds of yours. If you worked for a large company you could also try the state they are incorporated in.

In general if the company loses track of you they have to send your "money" to the state you worked in and if you do not claim it that state gets to spend it.

If your company went bankrupt the whole 401k plan might have gone to a new trustee and that could be the bank you mentioned.

I would email the department of banking for Il and ask what they know about the company.
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Old 06-08-2017, 02:02 PM
 
1 posts, read 36,008 times
Reputation: 18
Default Millennium Trust Company is "Real & Legit"... It is not a SCAM

I, also, received a postcard / letter from Millennium Trust Company in Bedford Park, IL informing me a 401K, IRA, or other type of qualified retirement plan was rolled over to Millennium Trust Company from a former employer/company I had worked for. The letter said to visit [url]http://mtc.docugateway.com/38ryjwd[/url] or call 1-877-538-5359. Both of these only tell you that you will be contacted in 10-15 days, etc... I NEVER GOT CONTACTED! ... After several months had passed, I came across the postcard / letter again. This time I went to the website the above number (877-538-5359) gave which is: [url=http://www.mtrustcompany.com]Millennium Trust Company[/url]

... A telephone number was listed on [url=http://www.mtrustcompany.com]Millennium Trust Company[/url] so I called it. That telephone number is: 1-800-258-7878... I did have to give my personal information, including my SS#, birthdate, etc.. in order to prove I am the intended recipent of the letter and the funds. I did have 401K Retirement Plan account with money it is at Millennium Trust Company from a previous place of employment that went bankrupt. They sent me a link via email to go to and fill out. If all security questions are answered correctly, you can select different options to withdraw your money. If the security questions are not answered correctly, you must fill out an application and return it to Millennium Trust Company to withdrawal your money. If you decide to close the account out, they charge you $15.00 closing fee.

I'm only posting this to let everyone know this is "REAL & LEGIT".. If you received a postcard or a letter informing you that you have a retirement plan that has been rolled over to Millennium Trust Company, DO NOT IGNORE IT... You do have money there and it belongs to you!

This is there main website: [url=http://www.mtrustcompany.com]Millennium Trust Company[/url]

*** It keeps taking the main link to the website out when I try to post this comment. I'm going to type the link and put "spaces" between "m" "trust" and "company".... Remember if you have to type the link DO NOT PUT SPACES BETWEEN "m" "trust" and "company" ........... [url]www.m[/url] trust company.com

Main Telephone#: 1-800-258-7878


Best of Luck to ALL!!!!

Have a wonderful day!
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Old 06-08-2017, 02:17 PM
 
1,606 posts, read 763,194 times
Reputation: 2138
Quote:
Originally Posted by macytower View Post
My 401k plan was sold to Millennium. I have asked on several occasions, by telecom and internet, regarding the status of my account. This is the statement that is provided: "Your account information has been successfully submitted. We will be in contact with you within 10 business days regarding your account." That was October 27, 2015, 09:50 PM CST. To date, I am still awaiting a response. Help!
Contact the Department of Labor - they take that kind of stuff very seriously.
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Old 06-08-2017, 02:44 PM
 
1,260 posts, read 1,724,153 times
Reputation: 1395
Since this thread surfaced again, I am happy to report that my husband successfully rolled money from Millenium Trust into an IRA, with little problems. The only thing that was weird - I don't think they ever sent him form 1099-R.

It looked like his money was just sitting in a deposit account for 9 months that they were there.
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