Reviews

I contacted them to do a retirement account rollover on 9/27, they didn't send the check out until 12/05 (TEN weeks later). There were a myriad of reasons on their end, and it was only numerous ***** min calls was I even able to get them to do this. The procedure is a standard practice with retirement accounts, which is supposedly their specialty. During the entire time the money was sitting as cash that they had access to, so not collecting interest/dividends for me.Then on top of it they still haven't characterized part of that rollover correctly, which may mean potential problems for me with the *** through no fault of my own. I have also called numerous times about this new issue that they created since 12/5, and as of today (12/18) still no luck. It must be done by the end of the year and holidays (several non-business days) start next week!I cannot believe the amount of time I have spent getting the company to do its job. Several of the employees I have spoken to have been nice, but clearly aren't trained correctly. Others have been defensive, even though I have been patient, and also not trained properly. Common theme here. Why is the customer having to spend inordinate amounts of personal time on a company's multiple mistakes??? Recently they told me that even though they labeled the transaction incorrectly in my account on their website, that they have the correct label in a part of their system where I can't see it. However they won't give me anything in writing to prove this, and literally told me to trust them on this. I wonder how hard the *** would laugh if I had to give this line of defense...What a shame that **** is the company that most teachers in the ** are forced to keep their 403(b)'s in through employer-sponsored plans. I am pretty shocked, as the other financial institutions I am affiliated with are leagues above in terms of knowledge, training and character of employees.

December 27, 2024 ******************************************************************************************************************** Better Business Bureau (BBB) Customer Review ********* SR ** ************* Dear *** *******:I am writing in response to the customer review that you posted with the **********************, which was received by **** on December 19. In your comments you mentioned difficulties experienced regarding the rollover of funds from your **** annuities. Your comments were forwarded to my department, which investigates client concerns.According to our records, on October 1 we received your request for a rollover. You had been informed that to complete the request, we needed your employers approval and termination information, which we had requested. On December 2, you followed up and informed us that the institution had sent us the information on November 15. There was no record that the information was received at ****, so we contacted your employer again and an email confirmation with the information was then received.On December 4, we processed a rollover from your account effective December 2 and the funds were sent directly to an alternate carrier. Taxes were incorrectly withheld from the payment and on December 5 we corrected the transaction to refund the taxes withheld. We then processed an additional rollover for that amount. A confirmation of the transaction was sent on December 6. In summary, 100% of your funds have been rolled over to ******* ******. A 1099R form will be issued at the end of January reflecting the transactions.We regret the inconvenience and frustration you have experienced because of this situation. We realize how frustrating it can be when there are lapses in service that contribute to creating undue concerns and frustrations. For that we apologize. We remain committed to meeting your service expectations and hope that your future experiences with us will reflect this commitment.For specific questions related to this matter, you can contact me directly at ************. Consultants are also available weekdays from 8 a.m. to 10 p.m. (ET). Additional TIAA information can also be found on our website at TIAA.org.Sincerely,Page 2 of 2 ****** ******* ************************************************ Team ****

When I separated from my company, I had 60 days to elect a distribution with a lump sum (least desirable) default if I failed to make an election. When I called during this period, they refused to accept my election because according to their records, I was still with my employer. I offered to call my employer but they insisted that it needed to be done through their system. Despite my making multiple calls, they did not change my status for 4 months and then forced the lump sum distribution on me because the 60 days had passed, which resulted in serious tax and ******** premium consequences. My employer declined to assist me because TIAA told them that I had never called. When I produced 2 independent call logs proving otherwise, my employer's lawyers forced them to reverse the distribution, but the year had already passed and I had paid the taxes. I elected a 5 year distribution. I sent a check for the entire amount to TIAA. First they failed to deposit it. Then they deposited a fraction of the amount. Then the deposited twice the amount. Then they deposited the correct amount. Then they sent me a "corrected W2" that was grossly inaccurate, which categorized taxes I had already paid as additional income! Then I forced them to correct the "corrected W2". Then they sent me a "corrected W2" but failed to enter the tax withheld in the appropriate boxes. I am still trying to get this fixed. My ******** premiums have already increased and I still can't get my tax refund.I have another retirement account with them. I wanted to get my money out of TIAA ASAP. Three separate representatives told me that I could roll the account over to another institution. One representative FILLED OUT THE FORMS FOR ME. Then the **** refused to do the rollover, saying it was illegal.I have never encountered a company with employees so lazy and incompetent. The only time they ever expend effort is when denying their mistakes and refusing to correct them.

December 27, 2024 Better Business Bureau Serving *****************/********* and **********************/********* **************************************************** RE: Customer ID: ****** Consumer: **** ****** TIAA SR * 1-26301464711 Dear *********** am writing in response to the customer review you received from **** ****** regarding his experiences with TIAA. This review was received by **** on December 14, *******. Schwam has a deferred compensation plan and a discretionary annuity retirement plan through his former employer that is record kept with ****. These plans have different provisions which are set by the ************************ (***) as well as his former employer.Deferred Compensation Plan The deferred compensation plan requires account balances to be distributed after termination of employment unless an election to defer or an election of another method of distribution is made within a fixed election period. **** did distribute the balance as a lump-sum payment.After discussions with the plan, **** agreed to provide Mr. ****** with a five-year annuity certain provided Mr. ****** returned the prior lump sum distribution. There were some complications when TIAA applied the monies back to the account. Once the corrections were made, **** was able to issue the first- and second-years payments for the annuity *********** reporting for a deferred compensation distribution is made on Form W2. Because there was a change to the distribution, **** issued a corrected W2 (W2C). If a W2C is needed, the *** provides instructions on how to complete this document. **** followed these instructions with the completion of the W2C. TIAA informed Mr. ****** that when he files his taxes both the original W2 and W2C need to be included with his tax filing.Discretionary Annuity The discretionary annuity is a non-qualified plan and offers limited withdrawal options as set by the plan and ***. This plan allows for a lump-sum distribution, an annuity certain/fixed-Page 2 of 2 period annuity, or life annuity. This plan does not allow rollovers. Remedies have been taken to ensure that misinformation is not provided in the future.We regret the frustrations and complications that Mr. ****** experienced with his TIAA retirement plans. I have offered, should the need arise, to provide a letter of explanation that Mr. ****** can share with the *** as it relates to his tax refund and/or ******** premium changes. You may contact me directly if you have any questions or concerns regarding this matter. I can be reached weekdays at ************************* or via email at [email protected],********* J. ***** *********************** Manager cc: **** ******

This company is so disorganized. I filed for hardship withdrawal, received documentation from my landlord and had everything in order-- a week and 1/2 later was told that there is an age requirement. All documentation that i received didn't say anything about that requirement and I talked to at least 5 representatives at the company and no one said anything about an age requirement. I am withdrawing all of my money and dont want anything to do with this company.

December 2, 2024 Better Business Bureau Serving *****************/********* and **********************/********* **************************************************** RE: Customer ID: ****** Consumer: ********* *********** TIAA SR * 1-26272692307 Dear *********** am writing in response to the customer review you received from ********* *********** regarding her request for a hardship withdrawal from her TIAA retirement plan. This was received by TIAA on November 23, *******. Spennacchio has a TIAA 403(b) retirement account through her current employer. The employer has set provisions for taking withdrawals while still employed. Specifically, if a hardship withdrawal is requested the employee must be age 59.5 or older.A review of Ms. ************ account shows that she had requested a hardship withdrawal in November 2023. **** informed her that she was not eligible because she had not met the minimum age requirement of 59.5. Ms. *********** called TIAA in July 2024 to discuss available income options from her 403(b)-retirement account. During this discussion, **** informed Ms. *********** that since she is still employed her withdrawal and loan options are limited. TIAA informed Ms. *********** that she would have to be age 59.5 to take a hardship withdrawal.On November 11, 2024, Ms. *********** submitted a request for a hardship withdrawal from her 403(b)-retirement account. When she spoke with TIAA about the withdrawal it was about the status of her request, not her eligibility. A notice was sent to Ms. *********** informing her that the hardship withdrawal is declined because she has not met the age requirement.If Ms. *********** has questions about withdrawing the money from her 403(b)-retirement account, she may contact TIAA at ************. Consultants are available weekdays from 8:00 a.m. to 10:00 p.m. (ET). Additional TIAA information can also be found on our website at TIAA.org.Sincerely,********* J. ***** *********************** Manager cc: ********* ***********

This is the worst place to put your money. Retired and trying to take out my money and they keep finding issues. I have been trying since September 10 and as of today, they continue to find issues. They do not want to give you your money. Steer clear of this organization. The next step is to hire an attorney!

November 28, 2024 RE: Better Business Bureau (BBB) Customer Review ID ****** TIAA ********************** ************************* correspondence is in regard to the November 19 customer review filed with the *********************************************, which was received by **** on November 20. In the review, ***** *** states they have been attempting to withdraw their money since September 10, and **** keeps finding issues and does not want to give them their money.We searched our records and are unable to locate any clients under the name and email provided. Additionally, on November 21 I sent an outreach to the email address presented, and I have not received a response. If the individual wishes to further discuss the review, they can communicate with me by utilizing my contact information below.For specific questions related to this inquiry, you can contact me directly at ***************** or by calling **************************. If you have additional questions, please contact us at ************. Consultants are available weekdays from 8 a.m. to 10 p.m. (ET). Additional information on **** services can also be found on our website at *****org.Sincerely,******* ******* Customer Resolution Manager

One of the worst companies I have ever dealt with. Absolutley horrid customer service. It should be illegal how hard they make it to move your money away from them.

November 20, 2024 Better Business Bureau Consumer: ****** ******* Review ID #****** TIAA ********************* Better Business Bureau,I am writing in response to the complaint filed with the Better Business Bureau (BBB) by ****** ******* regarding his service experience with TIAA.Upon review of our records, this individual does not have an account with TIAA. We appreciate his time to provide us with his feedback, which plays an integral role in our efforts to improve our client experience.For specific questions related to this inquiry you can contact me directly at ************************** on weekdays from 8:00 a.m. to 4:30 p.m. (CT).Sincerely,****** ****** Senior Customer Resolution Manager

My parents unfortunately had most of their assets with ****, so that when one and then the other passed, the nightmare of dealing with this company fell on me and my sister. Not only are they fond of requiring multi-page bureaucratic forms that all require notarization, but their employees don't seem to know anything about what is required. Two different employees sent us on months-long runarounds that involved filling out the wrong forms, or getting documents that weren't needed, or rejected for unclear reasons. Escalating the problem only leads you to an escalated problem. Total nightmare.

October 2, 2024 ***** ****** ************************************************************************* RE: BBB Review ID ****** TIAA ************************************** correspondence is in regard to the September 20 customer review you filed with the *********************************************, which was received by **** on September 21. In the review, you state that the beneficiary settlement process has not been a good experience and had difficulty with forms completion as well as documentation to complete the beneficiary ********** begin, I would like to extend my sincere condolences on the passing of your loved ones. Next, I have reached out to our **************************** Manager, ******* ****, and have been informed that the individual survivor benefit settlements for you and your sister are complete. Mr. **** informed me that the settlement of the ***** ****** Ohnuma Revocable Trust is currently still in process. Our records indicate that trust documents submitted in April did not include the required notary seal. I show that TIAA received the updated trust documents on June 26 and August 8; however, inconsistencies with the trust name provided required additional clarification. On August 27, TIAA was notified about a change with the co-trustee and trust settlement forms were sent to the trustee. **** Subsequently received the updated trust settlement forms; however, they included a different tax ID number for the trust. Our records show that Mr. **** reached out to you and informed you that due to the updated tax ID number, new settlement paperwork for the Trust must be notarized and submitted. Mr. **** has informed me that we are awaiting the documentation required to complete the remaining settlement. Please contact Mr. **** at ********************* or by calling ************ for further assistance with the trust settlement.I regret the inconvenience and concern this has caused. For specific questions related to this inquiry, you can contact me directly at ***************** or by calling **************************. If you have additional questions, please contact us at ************. Consultants are available weekdays from 8 a.m. to 10 p.m. (ET). Additional information on **** services can also be found on our website at *****org.Sincerely,******* ******* Customer Resolution Manager

TIAA-CREF is not honoring their pledge to fund my RMD. By law, I have to "cash in" a RMD so I can pay taxes on them. I made an online request around 8/15 that seemed complete. The receiving bank was confirmed so I expected a transfer soon after. Nothing happened. I called TIAA-CREF and got the run around so used a chat-bot. Who ever was at the end of the chat bot told me to check the :pending activity". So I did and there was a pending activity on 9/7. So, i was hoping that this was the RMD....but nothing happened. So, I am seriously wondering if TIAA-CREF is a scam.

September 24, 2024 ****** Berthelemy ***************************************************************************** RE: BBB ******** Review ID ******* TIAA SR * ************* ********************* am writing in response to the comments you posted with the Better Business Bureau (BBB), which were received by **** on September 14. In your comments you mentioned difficulties experienced requesting your Required Minimum Distribution (RMD) from your *************************** retirement ******** reviewing your account history, you initiated a request to satisfy your RMD from your *************************** retirement plans on August 15 through your ******** online account but saved the request rather than fully submitting them for processing. This was confirmed in your September 3 chat with a member of our ************************ who confirmed that the request was saved but not submitted and provided instructions to complete the **************** submitted your request correctly on September 14, which required additional verification from your employer prior to being processed. **** received the necessary information from your employer after market close on September 17, and your transaction was processed the next market close, September 18. Your 3 RMD payments were processed and sent via electronic funds transfer to your ************************************** account.If you have additional questions regarding this matter, please feel free to contact me directly at ****************** or ************. **** consultants are also available at ************ weekdays from 8 a.m. to 10 p.m. (ET). Additional information can also be obtained on our website at *****org.Sincerely,**** **** Sr. ******** Resolution Manager

They are trying to withhold my dead mother's money at every turn. Horrible.

September 19, 2024 BBB Serving *****************/********* and **********************/********* **************************************************** RE: Better Business Bureau (BBB) Customer Review ID # ****** TIAA Life Insured: ********************************* Dear Customer Relations Representative:We are responding to ********************** complaint filed with the BBB and received at TIAA on September 4, 2024.******************** wrote: they are trying to withhold my dead mothers money at every turn. Horrible.According to our records, we first received notification of your intent for a post-mortem 1035 exchange request via phone call on August 6, 2024. This was initially declined as the request was more than 60 days from the date the death certificate was received - March 1, 2024.An exception was made to proceed with the post-mortem 1035 exchange on September 5, 2024. On September 9th we mailed additional paperwork required to complete the request. We received some of these documents on September 12th ; however, we still require the following to proceed:Signed and notarized Release of Indemnification Agreement form A letter from receiving company confirming that they will be making stretched payments to ***************************** The letter and forms addressing the above has been sent September 18, 2024.Please do not hesitate to call us at ************, Monday through Friday, 8 a.m. to 6 p.m. (ET), to speak to a customer service representative.Sincerely,TIAA ************************

I recently received an obscure email from Tiaa that i wrote a big check to ********** To make a long story short, no one knows where my RMD withdrawal went. After a few calls that lasted a couple hours, i found out that the money is in limbo. They claim they sent a check to EverBank ( without my consent or knowledge). Supposedly they were merging under the name of ******** but that did not Happen . I want my ********* back ASAP. The sum is not at ********. A serious scam is going on.

September 13, 2024 Better Business Bureau Customer Review ID #****** Consumer: ********************* RE: TIAA Response Correspondence for SR# ******xxxxxx Dear Better Business Bureau:I am writing in response to the complaint filed by ***************** with the Better Business Bureau (BBB) regarding her customer service experience related to a missing cash distribution payment. The complaint was received by ****************** and ******************* (TIAA) on September 4.Our records indicate the client requested a required minimum distribution on August ** for direct deposit into her ************** account. A processing oversight submitted the payment to an invalid bank account in error. The payment rejected from the incorrect bank on September x. TIAA reissued the distribution to the requested bank on file for ************** on September x, with the correct August ** effective as of date.We appreciate the opportunity to respond to the concerns and regret any inconvenience or frustration the client may have experienced regarding this matter. **** remains dedicated to assisting ************** with her retirement needs. If you have additional questions regarding this matter, please do not hesitate to contact me directly at ******************** or by calling 704-xxx-xxxx .Sincerely,xxxx xxxxxxxxxx Senior Customer Resolution Manager