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Problems With TIAA-Cref

This article was written by in Investing. 1,434 comments.


Apparently I was not the only person having problems with TIAA-Cref.

When I contacted the company to report my missing contribution, the customer service representative was very helpful and assured me the account would be adjusted. I had complete confidence, and when I checked my account yesterday, the deposit had been made and backdated. My minor situation was resolved to my satisfaction.

Do you have any thoughts about TIAA-Cref? Read the over 400 comments below and leave your own if you have an experience with TIAA-Cref to share.

Updated March 7, 2011 and originally published January 11, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 1434 comments… read them below or add one }

avatar Swanson May 20, 2015 at 6:55 pm

When you deal with a Tiaa-Cref Wealth Management Advisor you deal with the following:

Very generous commission grid. If you are willing to focus on pushing clients into Tiaa-Crefs proprietary managed products you can make a tremendous amount of money.

External assets placed into Tiaa-Crefs proprietary managed products pay the following commission:

0 to 19.9 million in proprietary product placements pays .25% of the dollars placed in the proprietary product.

20 to 39.9 million in proprietary product placements pays .30% of the dollars placed in the proprietary product.

40 to 59.9 million in proprietary product placements pays .35% of the dollars placed in the proprietary product.

60 plus million in proprietary product placements pays .40% of the dollars placed in the proprietary product.

If you convince a client to move assets from their existing, low cost institutional defined contribution plan and place those assets into a proprietary managed solution, you will only receive .10% of the assets placed into the product as commission.

If you can convince a client to bring in outside assets to Tiaa-Cref but they want to self-direct, you will only receive .06% of the asset value transferred in.

Base salary plus very generous commissions on proprietary products.

Very top management at Tiaa-Cref has no idea how the heads of Tiaa-Cref Wealth Management is running the department. Morale is atrocious, Directors with little or no experience, retaliatory firings if you are not pushing enough proprietary products. Bad job for those who want to do the right thing by their customers.

Cull the entire Wealth Management Department from top to bottom. Many of the Directors are very complicit in unethical behavior.

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avatar soontobeformeremployee May 25, 2015 at 2:08 pm

There are 2 MAIN reasons for funds not being distributed in an easy fashion. The first being the common factor in this thread, they are tied up in the TIAA Traditional fund. The second is some Plans actually have rules in place that restrict certain withdrawals or have several hoops to jump through. There is nothing that can be done to go around them, though TIAA-CREF has to be the one to take the brunt of the anger, as many institutions don’t want their employees coming back to them because of it.

However, there are several instances that where it is TIAA-CREFs own need to save money that creates delays or hold ups on having distributions done from accounts.

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