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Ticref Refusal 2 Allow Funds Rollover From Divorce

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Does anyone have any information concerning rights of divorced spouse to rollover QDRO settlement of 403b. TICREF is refusing to allow me any rights similiar to what my exspouse has under the plan thru the university, would not allow hardship withdrawal for me only my exspouse stating that since I was not employed by them I have no rights, and now has declined rudely to allow me to rollover the funds into my employers 401k or an IRA upon request- stating in a letter I have no rights other than dispensing at 59 1/2 years of age. Is that true? Am I being discriminated against, where do I go to get equal and fair ownership of the funds that are in my 403b? Any help is greatly appreciated.

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Guest Sierra

Tiaa is not the employer, the university is the employer. So it is the University's Plan that governs. Is this plan the primary plan to which the university contributes or is it the salary reduction plan to which only the employee contributes?

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Get a copy of the contract if you can. TIAA-CREF has some contracts that will only let you take money out at retirement and you might have to annuitize. Check the contract and you might want to show the contract to your attorney.

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Thank both of you for your response. This is the University's plan they contributed in matching, it took me almost two years to get them to even acknowledge the court order of surrending that portion over to me, they still will not provide me with a copy of the plan administration- although my ex-spouse has had liberities given that the plan apparently has indulged, so why is it discriminating against my wishes to move it to a plan sponsored by my employer? This is not a great sum of money in any respect, infact I get more of a tax refund than the whole value that it amounts to, I just do not like TIAA-CREFT and its attempt to block me from managing any part of this portion I received from my divorce settlement that is more suitable to my needs.

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Guest Sierra
Thank both of you for your response. This is the University's plan they contributed in matching, it took me almost two years to get them to even acknowledge the court order of surrending that portion over to me, they still will not provide me with a copy of the plan administration- although my ex-spouse has had liberities given that the plan apparently has indulged, so why is it discriminating against my wishes to move it to a plan sponsored by my employer? This is not a great sum of money in any respect, infact I get more of a tax refund than the whole value that it amounts to, I just do not like TIAA-CREFT and its attempt to block me from managing any part of this portion I received from my divorce settlement that is more suitable to my needs.

Tiaa-Cref is simply the carrier/vendor. As you say the Plan is the University's adoption/creature. Your beef is with the U. TIAA must follow the rules of the Plan as adopted by the U. If they did otherwise they would be in a heap of trouble!

 

You have the legal rt. to a copy of the Plan Document and the Summary Plan Description; ask the U for it and tell them, if they do not comply you will report them to the Department of Labor which has jurisdiction over their plan. Please let us know how you make out.

 

Peace and hope,

Joel L. Frank

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