Anyone transferred funds from tax deferred IRA to pension plan to pay for service credit?

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beernutz
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Joined: Sun May 31, 2015 12:50 pm

Anyone transferred funds from tax deferred IRA to pension plan to pay for service credit?

Post by beernutz »

Like the subject says, I am looking for experiences from anyone who transferred funds from tax deferred IRA to a pension plan to pay for additional service credit.

I am trying to do this at TIAA and the process is excruciating, going on 3 weeks now and probably consuming cumulatively 6 hours of phone calls. The last rep I spoke with today seemed to think that such a transfer couldn't be done but none of the other 6 or so reps have mentioned this.

I won't go into all the ups and downs encountered with TIAA trying to do this except to say they've burned though 20 years of goodwill with 3 weeks of incompetence.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it. --Will Rogers
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Topic Author
beernutz
Posts: 508
Joined: Sun May 31, 2015 12:50 pm

Re: Anyone transferred funds from tax deferred IRA to pension plan to pay for service credit?

Post by beernutz »

beernutz wrote: Tue Jan 05, 2021 10:03 am Like the subject says, I am looking for experiences from anyone who transferred funds from tax deferred IRA to a pension plan to pay for additional service credit.

I am trying to do this at TIAA and the process is excruciating, going on 3 weeks now and probably consuming cumulatively 6 hours of phone calls. The last rep I spoke with today seemed to think that such a transfer couldn't be done but none of the other 6 or so reps have mentioned this.

I won't go into all the ups and downs encountered with TIAA trying to do this except to say they've burned though 20 years of goodwill with 3 weeks of incompetence.
For anyone in a similar situation at TIAA my advice is to persevere. After numerous TIAA reps dropped the ball I was finally assigned a very competent case manager in the IRA division who completed the rollover of funds to my pension plan to pay for the service credit. If I had known what I know now I would have started insisting on a case manager at the first sign of trouble with the transaction.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it. --Will Rogers
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