1. government by departmental officials following an inflexible routine; 2. the officials collectively; 3. governmental officialism; 4. the concentration of authority in administrative bureaus
There should be an alternative meaning, i.e., "the following of incompetent, illogical and non-common sense procedures." This would fall under my recent dealings with a major financial institution, which will remain nameless, over Beth's 401(k) account.
Since Beth left her employment, we rolled over her 401(k) to her IRA, which is the correct course of action. She wanted me to handle it as she doesn't like taking care of these details. In order for that to happen, I needed to fill out some form authorizing me to take care of this for her. Makes sense to me.
Earlier this summer, it has now come to our attention that a small residual balance still remained, probably from accrued interest and part of a bonus that was still due to Beth at year end 2006. We need to roll that over to her IRA.
Beth this time calls to take care of this matter, but the representative needs to speak with me to get my authorization. I was not home at the time. But the question is... why do they need my authorization? It's Beth's account, solely in her name. The representative said he'd mail out a form for spousal consent that I should fill out and sign, which we'd receive in 10 days. Then mail it back and call after that.
Ten days have come and gone. To date, we have not received the form. I tried to call back today to follow up, but after waiting on hold for over 10 minutes, I gave up.
If by August 6, 2007 they do not get any instructions from Beth, they will make a mandatory payout, which would be subject to income tax and possibly a 10% tax penalty. So what?! The $2.22 we're trying to get rolled over is not worth this kind of hassle. That's not even minimum wage.
