Sangeet L.
401K loan withdrawal issue
I just took out a loan from 401K but voya didn't confirm if i received the cheque. I called on 5th business day to tell them that the chequeu is not received and they asked me to hold for another week before they can re-issue a cheque. This is pathetic service since I have no received it until today even though online it says that it was processed on May 17. But the installment was withdrawn from my salary without even actual loan disbursed to me. I am really not happy with the overall process that has been followed by Voya. They sent a chequeu via USPS which I am confident that its misplaced. For such critical financial cheques, Voya should use UPS or FEDEX which has tracking numbers and are delivered at door step with proper verification but Voya choose to send via USPS. The reason for loan was some personal emergency but now I have to go through a process of requesting for another cheque which I am pretty confident that it will take more than 7 days to disburse. Not a efficient way at all. Hope senior management takes a serious note about this feedback and take appropriate action to disburse the loan to my bank account directly rather than this cheque business.



