Ohio Deferred Compensation E Town St, Columbus

Horrible customer service and this place is a scam. Been with them since 2017. Called today to withdraw some funds which are much needed. They told me they can't unless it's to pay for medical expenses, auto accident and utilities shutoff. Are you kidding? Every month I have been paying them money so what do you mean I can't have my money. Duh!!! It's my money!! Place is a scam and I'm having my lawyer get involved

I’ve had deferred compensation set up for almost 4 years. I’m in the process of cashing out my deferred compensation for some extra financial help. I filled out the forms and waited a week finally got an email today that it was approved and I will have my money deposited tomorrow. Now mind you I double and triple checked everything before I submitted the application plus even included a blank check but they somehow managed to input the wrong account number even though they had the right one on my application and my blank check. Whats really aggravating, is being told that I have to wait for my bank to send it back and then have ODC re-issue the deposit. I had only a day to rectify the issue because application was approved today and was supposed to be deposited tomorrow. I asked for a supervisor and was told I’ll get a call back in 24-48 hours?! The reps I talked to seemed to be useless and incapable of solving the problem. I don’t understand why the initial deposit couldn’t have have been cancelled and I new deposit request submitted but apparently that’s a big no no. the last guy I talked to was kinda snotty and hung up on me when I told him I was going to cancel my account. So needless to say they are gonna loose a 4 year customer and I’m gonna cancel as soon as this is taken care of. Save your time and reinvest elsewhere.

The person was concerned and patient. She explained what I needed know. Thank you!!

I have been trying to complete a direct rollover OUT of the plan for months. It's my money, but they essentially hold it hostage by making the process SO CUMBERSOME. They offer no online, or even faxing options. Their forms are not available online AND they require the ORIGINAL copies of all forms throughout the process, which means: If you wish to get your money out of Ohio Deferred Comp, first, they have to mail the forms to your home (MAIL, not email), THEN you have to complete your portions of the docs and sign, THEN you have to mail (yes, MAIL) the docs to the firm you're trying to transfer your funds to, THEN the firm has to fill out their portion of the forms and mail the forms back to me, THEN I have to mail these ORIGINAL COPIES back to Ohio Deferred Comp. In the year 2017, this is truly unacceptable. There's noway to track the docs, so while these have been mailed, I'm just sitting here waiting to hear something. I just called and all they could say was "we haven't received the forms yet". I asked, "is there any way I can get this transfer initiated in an easier way?" and they simply say, "no". I've completed multiple other rollovers from other firms where everything was fully completed online, and it all occurred seamlessly within a week or 2.

I've had a very similar experience as some others who have posted about Ohio Deferred Compensation: getting a rollover out of this account is next to impossible. The policies they have in place to prevent people from rolling money out of the account are predatory and should be illegal. Do not use.

The program itself is wonderful BUT the customer service from supervisors is terrible Peggy a Supervisor ask me do I want to opt out of the program when I ask for a unforeseeable emergency funds. One would think that the agency agenda would invite and welcome people to this program for this program is important to me and my family future not to try to encourage human beings to opt out. Thank God for such a program and I didn't appreciate that kind of service or advise. Peggy the supervisor owes me an apology.

I have been in the Deferred Comp program for 38 years. Being retired, I take a monthly benefit payment. Being able to transfer money between funds online is a big benefit. FDGRX and VIIIX are my primary holdings for capital growth.

Ohio Deferred Comp has cost me approximately $5,000. I am retired and am moving my money to Merrill Lynch. ODC made me fill out carbon copy forms, mail those to Merrill Lynch. Then Merrill Lynch had to mail the documents back to ODC after completing their portion. All paper, nothing electronic. Then, ODC shut down my account on March 3rd and mailed a check on March 8th. MAILED A CHECK. ODC has no means for electronic transfer!?!? It is now March 11th and Merrill still does not have my money. In the meantime, the market is up 1,500 points. ODC tells me they use paper and mailing because it’s more secure. Really? Are you serious?

ODC give’s you such a hard time for taking out your money when your not working for the place of business any longer, And when you try to talk to them to see what is taking so long they get rude and short with you, and give you a round about story, I will never pay into this company ever again... Save your money and invest it yourself, because they’ll control your money like it’s there’s, and make you wait a ridiculously amount of time when they know it’s a very difficult time for a lot of people right now in the world... But more importantly it’s your money And when you try to take out money if your still working and need it to pay for a loved one’s medical, a funeral service or any type of hardship you experience in life which happens to us all, they take forever to send your money, I think they should change the way they handle there business process on withdrawals and be more considerate and sympathetic of what there customers are going thru!

I have been retired for 7 months and contacting ODC the folks are nice but the process is outdated and fails to meet todays customer service needs. For every transaction I called on, they have to do something, they have to mail, I have to mail it back... nothing can be done on line. I always call back to see what is going on. ODC is the largest firm of this kind in Ohio, but I'm becoming more and more uncomfortable keeping my money here. I have even had trouble assigning my beneficiaries and the ones I asked to be removed are still there. Why aren't forms generated from your website? Why can't I pull forms from your website... the ones I actually need? Why does ODC staff still type forms prior to mailing or typing? I thought my money was fine here, now I'm not so sure... time to speak with an financial planner.