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Two Experiences with TIAA Service
rellison
02-10-2007, 3:11 PM | Post #194558
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1) I submitted an on-line request to TIAA in June 06 to transfer a fairly large IRA from Schwab to TIAA (for Real Estate Annuity). I started calling or sending email in July as there was no evidence that the transfer was being done. No one could tell me what was failing. Several times I was told that it was being resubmitted, but again no results. I was also told in September that I had not submitted all the necessary materials, but I had submitted what they had requested and no one described what was missing. Finally in October I gave up. My guess is that Schwab wanted a signature guaranteed by a bank officer which the on-line submission would not have provided. It was particularly frustrating that I had absolutely no communications from TIAA on the status or what I might need to provide them unless I called. I then submitted the transfer request to Vanguard who completed the transfer in little over a week with on-line access to the status.
2) Yesterday, I received a letter from TIAA with Annuity Distribution forms that begin with "In response to your recent request for a distribution from your personal annuity, ...." My first response was concern as I had not recently made such a request. My second response was a laugh when I looked at the date of the letter: July 2004 while the postmark was 2007.
Bob
Originally posted in thread: 1444
Topics
annuities
annuitization
Cashability
forms
IRAs
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