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It is always wise to have a secure financial foundation. Here is a place to ask questions, exchange ideas and share information on how to make the most of your money.


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#1 Posted : Tuesday, March 20, 2012 12:50:38 PM(UTC)
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Rank: Newbie

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Joined: 11/2/2009(UTC)
Posts: 15


Has anyone had experience with trying to roll over TIAA-CREF funds to the TSP? It is a formidable challenge (my spouse did it; CREF is immediate but TIAA takes 10 years), but other than having full control over these funds, I wonder if it's better to just leave it there (even though I don't like the limitation of their fund categories) and draw it down as an annuity when I retire. Any thoughts?
mtg2005  
#2 Posted : Wednesday, March 21, 2012 8:38:43 AM(UTC)
mtg2005

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Joined: 12/15/2005(UTC)
Posts: 222

Right now my TIAA legacy issues are paying more than the G-Fund. I left my TIAA-Cref at TIAA-Cref and moved all to TIAA when I retired and started the 10-year payout then but only about 15% of my retirement money was at TIAA-Cref. Admittedly the expense ratios at TSP are much better. If you have decent legacy issues in TIAA, can you just roll over the Cref part?
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#3 Posted : Wednesday, March 21, 2012 7:50:42 PM(UTC)
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Yes, sort of. The institutional funds administrator (where you worked) and TIAA-CREF have to agree (in writing) to deign to transfer the money out (rollover) to any other financial institution whether it is TSP, a mutual fund company, a brokerage firm, etc. They seem to do everything possible to obstruct any transfer of funds for as long as possible. Because of the fine print in my ex-employer's contract with TIAA-CREF, they will only allow me to move approximately 62% of my money out of CREF at this time. TIAA will only allow 10% per year to be rolled over. I haven't gotten all the answers yet but it is because I'm not getting answers and my rollover options are being limited (so that I do not seem to have control over my money there) that I want it out as soon as possible, solely under my control. If there are any good reasons for taking the chance of leaving this money under someone else's control, I'm listening ... and still not hearing anything! 
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