Complaints

This profile includes complaints for TIAA's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  TIAA

  730 3rd Ave New York, NY 10017-3206

• 

  TIAA

  P.O. Box 1259 Charlotte, NC 28201

• 

  TIAA-CREF Oversight Complaint Compliance

  1670 Broadway, Suite 2200 Denver, CO 80202

• 

  Teachers Insurance Annuity Association

  370 17th Street Denver, CO 80202

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:10/19/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  i started a new job in february 2022, i have been trying to roll over my funds from Fidelity to TIAA. I sent in the necessary transfer forms, i waited a few weeks and never heard from them, i called a month later and they could not find my transfer forms. They sent a new set of forms, thankfully i made copies of the originals, i submitted the forms again, i called a few weeks later, i was told they have my forms, i should mail them the checks to transfer my funds, i sent the checks and called back to confirm. they stated they never received the checks and they never received my transfer forms. i sent a third set of forms and ordered a replacement check. i sent the forms certified in august, ive called 3 times since then and ive been told they cant find the forms, then when i mention i want to transfer funds, they miraculously find the forms, i called again today, after first they couldnt find it, then after mentioning a transfer of funds, they found the forms, they told me the signature was "suspicious" i need to resubmit the forms again and send the check. Ive been trying to submit my transfer funds since february, this is ridiculous, ive been getting the run around, someone needs to check this company, how many times do you have send in forms. I am without the benefit of my retirement funds.

  Business Response

  Date: 10/28/2022

  This correspondence is in response to the communication received on October 19 from the Better Business Bureau (BBB) on behalf of **********************The communication indicated ************** experienced unsatisfactory customer service while seeking to transfer assets from Fidelity to TIAA.
  
  After researching our records, I spoke with ************** and confirmed the checks from Fidelity were received on August 22 and credited to her TIAA retirement account. However, because stop payments were completed by Fidelity, the contributions to her account were reversed on August 24. Prior to August 22, we informed ************** the checks were not received by TIAA, which prompted her to request the payments be stopped by Fidelity.
  
  We regret the customer service ************** received from our consultants was not the level of service TIAA expects. The forms received on August 21 are in good order and no further documentation is required. ************* has been informed she needs to submit the reissued checks from Fidelity to TIAA for crediting to her retirement account.

  If you have questions related to this inquiry, please contact me at *********************************** or ************.
  

  
  Sincerely,
  
  ***********************
  Senior Customer Resolution Manager

• Initial Complaint

  Date:10/11/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We have an elderly client, who is a retired hospital researcher, with over $1 million dollars invested with TIAA . After the death of her husband, she sought our guidance with investing and asked us to consolidate her TIAA accounts from several research universities. We had no issue rolling over her late-husbands funds and her funds that were not in 403(b) accounts or TIAAs Guaranteed funds. However, the issue we are running into is that the current funds left with TIAA are in 403(b) accounts. On my last call with the client to TIAA we were made aware that if we start the 10-year, 10% distributions for the remaining accounts, all funds will be locked and unable to be used for RMDs. This is a big problem. TIAA is essentially forcing the client to lock in the 10% withdrawal each year and take it over 10-years. This is an issue because she will be subject to the *** 50% penalty on all RMDs from her 403(b) assets.Sorry for all the finance jargon. I am happy to get on a call to articulate the issue.

  Business Response

  Date: 10/18/2022

  Re: Better Business Bureau (BBB) Complaint ID ********
        TIAA SR ************************* *********************:
  
  I am responding to **************** October 11 complaint filed with the BBB and received at TIAA on October 12.
  
  ************ wrote that he works with a mutual client and that TIAA is essentially forcing this client to take periodic distributions which may prevent her from taking Required Minimum Distributions (RMDs).
  
  Since ************ did not identify our client, we are unable to fully address this matter. However, in general, TIAA offers myriad options so that our clients can satisfy RMDs and meet their income needs.
  
  Further, I encourage ************ and our client to speak with a licensed TIAA Financial Consultant to discuss our clients individual planning needs and account distribution options.
  
  For account service needs, please contact us at ************. Consultants are available weekdays from 8 a.m. to 10 p.m. (ET).Additional TIAA information can be found on our website at TIAA.org.
  
  Sincerely,
  
  *************************************;
  Senior Customer Resolution Manager
  Operations and Customer Services
  ******************** **** ****************************************************** ********** ** ***** ****** ************  **** ************ ************
  
  TIAA-CREF Individual & ************* Services, LLC,Member FINRA and SIPC, distributes securities. ******** services by Advice & ******** Services, a division of TIAA-CREF Individual & ************* Services, LLC, a registered investment adviser

• Initial Complaint

  Date:10/04/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I reached out TIAA to withdrawal from my hardship for my daughter's tuition for college. First TIAA said I needed to submit my daughter's birth certificate and a tuition amount to them. then when I called again to make sure I got everything for them to submit, they said no birth certificate needed to submit a tax form stating my daughter's a dependent and submit an invoice to them including tuition what is owed. I submitted it then they tell I was denied because it says 0 bal. it does not say 0 bal. it clearly states 0 was awarded to my daughter I have to pay out of pocket the tuition.TIAA needs to retrain their employees and make them understand what they are reading.

  Business Response

  Date: 10/10/2022

  This correspondence is in response to the communication received on October 4 from the Better Business Bureau (BBB) on behalf of ***********************. The communication indicated **************** experienced unsatisfactory customer service while seeking a hardship withdrawal.
  
  After researching our records, I attempted to speak with **************** on October 6 and left a phone message. As part of our research,the recorded calls from September 26 to September 30 were reviewed.
  
  Based on the information communicated to **************** by our phone consultants, her ability to obtain a hardship withdrawal was not adversely affected. While there was an initial misunderstanding over the type of documents to send to TIAA for tuition reimbursement, ultimately **************** did not receive a hardship withdrawal because the documentation submitted indicated no tuition was due for the current or upcoming semester for her daughter.
  
  If you have questions related to this inquiry, please contact me directly at *********************************** or ************. 

• Initial Complaint

  Date:09/21/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  TIAA CREF owns my apartment building ****** in **************. I have been waiting to get my sink repaired for almost 3 years. The enamel is cracking and I have been asking to get it fixed since I moved in and TIAA CREF has owned the building the entire time. I would like a refund of $18544 which is 2 months per year as I have not lived in a "luxury" apartment. I think this is a fair settlement as I have been messaging the various management companies to fix this since I moved to this unit. This is not the only issue I have encountered. I also had a massive leak in my apartment and they fixed it while I was living here. They did not put up any tarps or sheets, so there was wet drywall all over my apartment and I was breathing it in. There was no HVAC or washer and dryer for 1 month. I never received any compensation for that either. My washer and dryer destroy many items of mine and it took months to replace them when they did it was no longer a full-size washer and dryer. I have had credit cards stolen out of the mail and used. I have had thousands of dollars in packages stolen over the year but most recently around $1300 in items stolen from the package room. There have been homeless people sleeping near my car in the gated parking garage when we were supposed to have night security.I would like the sink fixed, a refund, and a new full-size washer and dryer. I have attached the most current email correspondence with ******* and ********* and an image of the sink that I have been living with that my guests say looks like a "bomb" went off in it. This building used to be so nice, but the amount of neglect TIAA CREF has given has allowed most of it to fall apart.

  Business Response

  Date: 10/06/2022

  
  Good afternoon,

  
  Please let this serve as our response to the mentioned complaint. 

  **************************** sink has remained operable and functional. We have resurfaced the sink on two occasions and the peeling of the enamel has unfortunately continued. Although this cosmetic issue is not ideal, the sink is still in working condition and we are in the process of sourcing a replacement for this for a full resolution.

  Because replacements are timely, we did offer to relocate the resident to a comparable home at the same rate and pay for moving expenses, however the resident denied this offer.

  
  The leak mentioned by ************************ took place with a prior management company. All issues from the leak have since been repaired to original condition. 

  The washer and dryer mentioned has been replaced with a new washer and dryer unit as requested by the resident.
  
  The mentioned missing packages took place during prior management and we have communicated with ************************ that she will need to file a claim with her renter's insurance for reimbursement.

  
  

  Thank you,

  
  ****************** ******** ******* ****** ******************** ***** *********** *************** ** ***** * *******  ***************** ********************** * *** ****************** ***** *** ************** ** ******* *** ******************** ******************

  
  

  
  
  

  
  
  *** *********** ********* ** **** ***** ********** *** ************ ** ************* *** ** ******* ** ***** ** ***** ************ ********* *** ******* ********* ********* *** ** ******** *** *** ** *** ***** ************ ***** ****** ** ** *** ** **** ***** ** *** *********** ** ****** **** ** ******** ********** *** *** ** ********* ** *** *** *** *** ******** ************* *** *** *** **** ********* **** ** ********** **** ***** ** *** *********** *** *** **** ********* *** **** ** **** ** **** *** ****** ** ******** ** *** ** *** **** ******** **** ***** ** ****** ****** ****** *** ****** *********** ** ********* ** ***** *** ****** *** *** *** ****** ******** ********* *** ************ **** **** ******* *** *************** ** ********* ** *** ****** ** **** ******* **** ***** *** **** **** ** *** ** ******** ******** ** **** ***** ********** *********** ** ****** *** **** ** ************ ******** ******** ** ****** ** ********* *** *** **** ** ****** ****** ** **** ***** ** *** *********** *** ** ******** ************* ************* ********** ** ********** ******* ****** *** *** ******* ** **** *** ******* ****** * **********

  Customer Answer

  Date: 10/11/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The response was not from the business I filed a complaint with. 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,

  
  *****************************
  
  
  
  
   

  
  

  Business Response

  Date: 11/09/2022

  Dear ************************,

  
  Thank you for sharing your concerns. TIAA is providing this response to supplement the response provided by the property manager, ******* & ********** Based on our review, outlined below, we conclude that a refund of a portion of your prior rent is not warranted.  In September, you were offered the opportunity to relocate to a comparable unit at the same rent. This offer remains open, if you are interested.

  
  In regard to the sink, efforts to resurface it have not resolved the cosmetic issue of the peeling enamel. ******************* is seeking to source a replacement. Unfortunately, this process has been delayed by supply chain issues.

  
  As previously noted, all issues resulting from the leak have been repaired to original condition, and the washer and dryer have been replaced with a new unit.

  
  With respect to any missing mail or packages, we suggest you consider seeking reimbursement from your insurer.  Additionally, we confirm that the parking area has 24-hour security. 

  
  We appreciate the opportunity to respond to your concerns,and we ask you to raise any *************** to property management. Thank you. 

   

  Customer Answer

  Date: 01/03/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  Hello,
  
   
  
  My complaint was not resolved. What are the next steps? I would like to speak to TIAA who owns the building. I am still seeking a refund. My sink has not been fixed. 
  
   
  
  Regards,
  **** 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *****************************
  
  
  
  
   
  

• Initial Complaint

  Date:06/28/2022

  Type:Product Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  5/27/22 I called *** to get information on how to report a death and find out beneficiaries on account. 6/2/2022 submitted Death Certificate of *********************** (Aunt), *** forms for the beneficiary, Death Certificate of the other beneficiary listed on the account, copies of all TIAA accounts, and Letter of appointment from the ****** Court for the Estate of ***********************. All documents were submitted. Called 6/6/2022 to inquirer if ******************* (My Mother I am *** for) is listed as a beneficiary or if these accounts will be going through the Estate. I was notified that TIAA had to update the account before they could talk with me and it would take 7 days. I stated it has been 6 days since I sent in all documentation. I did confirm that they received all documents TIAA requested, and they affirmed they did. On 6/23/22 I received an email from my Aunt's ex-husband stating TIAA had been emailing him about ******* accounts. ******* told them that *********************************** was the *** for ************************** and the Excitor of *************** he originally reported this information 3 months prior. 6/27/2022 called TIAA to talk about ******* accounts (who is beneficiary, or will these accounts be going through the Estate) and was told that TIAA could not speak with me until the account was up-dated and could take as long as 7 days. I provided the dates that the account was notified. There is also a discrepancies with past quarterly statements and a withdrawal I have been asking TIAA to clarify who they sent money to from the accounts. TIAA again refuses to speak with me after multiple attempts by email and phone. I am ****************************** *** who is the possible only living beneficiary and ************************* (account holder's) Executor of the Estate.I need explanation of money missing from accounts and information on whom is listed as beneficiary. TIAA needs to follow the law on closing out accounts. Do not contact anyone else but ***********************.

• Initial Complaint

  Date:06/06/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Basically, my old employer changed fund managers and also investment selections for the 403B. I called right away (probably about a year ago, several months), and said I did not want to change anything in my portfolio. They looked into the 'new' plan that was being rolled out, and said I did not have to, that I could stay in my current investment selections. I was on the phone for at quite a bit of time, and it was all settled, and the agent told me that my account would remain the same, he had done whatever was necessary for the change to not effect my selections. I thought nothing else about it, until just this week, when I looked at my last statement, as I was thinking of rolling this all into a regular ***. I saw then that they had liquidated my funds and put me into new funds. I called on Tuesday, May 31st, explained it all, and they said it would be investigated and they would pull the call logs and that I would hear within ***** hours. They never called, so today, over 72 hours later, I called back in, and was told that the investigation team said that the issue had no 'actionable' issue, that I had waited past the small print on the statement of 60 days to file a complaint of any issue, and therefore, the case was closed. I asked if it was their mistake, could they not pull the call log to verify and see if it was a human error or computer software error, and determine how much I lost in funds (if any), due to this error. I told the agent today that this was unethical, and that my only recourse would be legal, and I did not understand why they could not at the very least let me know what happened. Again, it is possible I did not lose much or any money, or possibly I did better (doubtful), but the point is, I called, was told it was taken care of, and then they liquidated by complete portfolio into new funds.

  Business Response

  Date: 06/23/2022

  BBB Case# ********
  Consumer: *******************

   

  I am writing in response to the complaint filed by *** ******************* regarding her request to opt out of the November 18, 2021 plan changes associated with her Earlham College retirement plan. We apologize for the inconvenience ************** experienced as a result of this. TIAA is the record keeper for ************** pension account with her employer. TIAA must adhere to the plan rules that his employer has put into place. Earlham College sent letters to their participants informing them of the impending TIAA RetirePlus model  implementation. TIAA RetirePlus provides plan sponsors and consultants a way to offer custom model solutions that are tailored to the plans unique demographics. The participants were also advised they may opt out of this offering before the November 18, 2021 implementation.

  Ms. ***** contacted our *********************** on November 2, 2021 and asked to be opted out of the program. Regrettably, the TIAA contact center representative did not properly execute the opt out request and ************** was enrolled in the plan on November 18, 2021. On June 22, I spoke with ************** in detail regarding the changes that were made to her plan as well as possible options available to correct our error. Our conversation included, the liquidity she now has as with the new model as well as the increased amount of funds that were invested in the TIAA Traditional Guaranteed account as part of this change. *** ***** decided that the change may actually have protected her during the recent downturn of the market. Additionally, the changes offer her more liquidity if she wanted to request a lump sum distribution or a rollover. Since ************** has been considering rolling her funds over to another TIAA account, she decided to not pursue the corrections we would have made due to our error. We appreciate the opportunity to respond to ************** concerns. If you have additional questions regarding this matter, please dont hesitate to contact me directly at *********************************************** or by calling ************. 

  
  Sincerely,
  *****************************
  Senior Customer Resolution Manager
  CC: *******************

  Customer Answer

  Date: 06/24/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.  ******************** was most helpful in this, and the validation I received as well as actions I can take later were very helpful to me.
  
  Sincerely,
  
  *******************
  
  
  
   
  
  

• Initial Complaint

  Date:06/03/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On Tuesday of this week, I made a request to have an advance on the other annuity that I have available for that. I uploaded documentation to my profile inside the app. I called twice on Thursday to check on my status. The first representative said it was in the que to be processed and everything looked to be in order. I called back later in the day and the representative said it still hasn't moved. He said he had that escalated and to expect a call on Friday (today). I was told someone would call me within two business days with no mention of being backed up. Tell me you're busy and that at least sets my expectations.Considering I originally asked for both to be advanced two months ago, I'm more than a little upset and don't have much faith I will get a call back today. I hope I'm wrong. It feels like there is a miscommunication there.This is not my first complaint since I've had issues getting things transferred over to my name.

  Customer Answer

  Date: 06/03/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

  I received a phone call today stating my advance payment has been approved. I completed and submitted the required forms needed to do that. 
  
  Sincerely,
  
  *************************