Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
TIAA subpoenaed
Old 11-13-2017, 10:13 AM   #1
Full time employment: Posting here.
Mr._Graybeard's Avatar
 
Join Date: Apr 2011
Posts: 601
TIAA subpoenaed

I don't see a thread on the NY Times story about the NY attorney general ordering TIAA to disclose information about its sales practices, citing reports that workers were pressured to sell products that are more profitable for the company. https://www.nytimes.com/2017/11/09/b...-subpoena.html

Too bad ... I had always thought of TIAA as one of the good guys out there.
__________________

__________________
Mr._Graybeard is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-13-2017, 10:47 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,449
+1. Not sure that it is other than normal sales practice to try and sell the product that is most profitable for the company. The time we were with TIAA was very good and we have high respect for them - we left them because our moving of large chunks of money seemed too businesslike to them - they were right, repeated loaning to flippers is kinda outside the pale for a high interest savings account.

What's next? Costco charged with running a sweatshop? National Park service growing vast fields of opium poppies?
__________________

__________________
calmloki is offline   Reply With Quote
Old 11-13-2017, 11:39 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,193
TIAA was a nonprofit that became a for profit investment company, right? The change was in 2010. Perhaps that's where some of the concerns are coming from as it's the only investing option for many public employees such as teachers, etc.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 11-13-2017, 12:33 PM   #4
Full time employment: Posting here.
Mr._Graybeard's Avatar
 
Join Date: Apr 2011
Posts: 601
A big change also came in 1997, when Congress revoked the tax-exempt status of their pension plan. That tax exemption also limited their service to mostly employees of educational institutions. After the revocation, TIAA started branching out investment services to broader markets.

Here's a webcached link to a Morningstar article that looks insightful in the wake of the NYAG's action.
http://webcache.googleusercontent.co...&ct=clnk&gl=us
__________________
Mr._Graybeard is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
TIAA-CREF FinanceDude FIRE and Money 5 09-25-2006 01:53 PM
Anyone with experience of TIAA-CREF brokerage nun FIRE and Money 6 05-16-2006 08:02 AM
TIAA-Cref retail mutual funds nun FIRE and Money 8 04-22-2006 02:39 PM
TIAA CREF = teachers annuity side mangodance FIRE and Money 3 07-02-2005 11:42 AM
Understanding my mom's Tiaa-Cref account? soupcxan FIRE and Money 3 04-12-2005 01:18 AM

 

 
All times are GMT -6. The time now is 02:00 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.