TIAA CREF

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Incompetence with withdrawal requests
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CALIFORNIA -- I requested a withdrawal from TIAA CREF that as stated on their website would take 3-5 days. On the 5 day I contact the company to find out when I could expect the withdrawal. I was told it would take 7-10 days. On the 10th day I contacted the company and was told they could escalate the request but I would need to call back in 3 days. On the 13th day I called and was told I needed to call back the next morning because I had to wait 3 days and should call back on the 14th day. ON the 14th day, I was told someone would look into my request and I should receive the rush withdrawal in 48-36 hours. On the 16th day, I called for a status and was told the funds had been transferred to my bank. Then a representative informed me that they "accidentally" sent my entire retirement savings to my bank. They withdrew all the money in my retirement and sent it to my checking account. She explain to me that it "wasn't clear if I was asking for $1000.00 or 100% so they sent 100%. Then apologized for the error. No one ever posed the question to me, or even mentioned that there was a problem on all the occasions that I called the company. In fact, I asked why it was taking so long and I was told they were "understaffed". And that it was because it was "tax time". TIAA CREF is incompetent and I would highly suggest that you stay away from a company that would make suggest a huge mistake with your money.

     
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