Because I'll be away all day tomorrow and couldn't blog last night because the Blogger server was overloaded, let me just take a moment to say, once more, how badly TIAA-CREF sucks. Getting Mary's 403-b out of there was like pulling teeth. The "consultants" at the call centers (not to be confused with "brokerage consultants") were universally confused about how to get money out of there, who could do what where, etc. Like something out of Kafka.
And yet David Swensen, head of the Yale endowment and TIAA-CREF trustee, is all excited about how great they are, what "low-cost, client-focused" products and services they provide. Low-cost indeed, until you try to actually do something, then the transaction costs mount.
Thursday, October 26, 2006
Yet again I say, TIAA-CREF sucks
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I am a part of team that has been investigating TIAA-CREF for some time now. Over the course of this investigation we have uncovered innumerable complaints about TIAA's business practices. We are actively addressing what appear to be improper financial practices within the corporation that affect faculty and staff retirement plans across the country. We would like to hear about your experiences with TIAA-CREF managed retirement plans and discuss ways we can help. Please message me back, or you can reach by email at d.chyatte@mypirl.com or on my cell (661) 282-7376 to discuss
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