Questions regarding adding & downloading retirement accounts

jnprop
jnprop Member ✭✭✭
edited October 2020 in Investing (Windows)
I have been spending some time in the Planning Tab and the Lifetime Planner. I am a long-term Quicken user but have never spent much time with these functions.

I have two retirement account plans at TIAA-Cref, a 403b and a 457b. They have always been in Quicken and connected, but like I said I never did much with them.

 I deleted the accounts and reconnected and now it is displaying the 403b different. Before, it displayed just one account for each. Now there are three accounts under the 403b plan and one under the 457b. Before, the paycheck wizard put the deductions in the accounts.

Now with three accounts, it doesnt do that now. So that is one issue.

The other, is there a way to just display the two plans like before and not the individual accounts? I did not select this preference to my knowledge. It did it automatically.

If not, how am I going to address the 401K deduction from my check going into 3 accounts. Seems like the amount that goes into each is very random.

Any input would be greatly appreciated!
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Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @jnprop,

    So let's consider one issue at a time.

    You said "Before, the paycheck wizard put the deductions in the accounts. Now with three accounts, it doesnt do that now."  I assume that this means that the "payroll wizard was the source for the entries that were made in the TIAA-CREF accounts.  Since you deleted the old accounts and setup the new ones through TIAA-CREF, did you also change the payroll entries so that the withheld payroll deductions go into the new Quicken retirement accounts?  If not, you need to do that.

    On the other issue of now having "three accounts under the 403b plan" It sounds that something may have changed since you last setup the retirement accounts in Quicken and it could be just be that the funds are being allocated to three investment options rather than one.  Do you recall making any changes to the way those withheld funds are invested (or being notified by the plan administrator that such changes would be made?  Either way, you need to look into that and likely split the contributions (in the payroll entry referenced above) to the proper funds.  The other option - since it seems like you didn't want to make a change to the way the funds are now split "into 3 accounts" - would be to simply advise your employer and/or TIAA CREF that you don't want to split the contributions the way they currently being allocated and tell them to change it back to the way it was.

    As far as the question of "display[ing] the two plans like before" it soulds like the only way for you to accomplish that would be to stop downloading from TIAA-CREF and revert to recording manual entries in those accounts.

    Let me know if you have any followups.

    Frankx


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  • jnprop
    jnprop Member ✭✭✭
    Thanks Frankx!! I really appreciate you taking time to look at this for me! I will work on what you suggested and see what I can accomplish.

    Parrish
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited October 2020
    When you say there are 3 accounts for the 403b, is that a separate account for each of 3 securities, or is it different accounts for different types of contributions?

    I have an old 403b with TIAA-CREF that has two accounts, one for my contributions and one for the employer match. That is the way you have to set it up in Quicken if you want to download. If that is the case, you just have to make sure the paycheck wizard is set up so that the transfers for the different contributions go to the correct accounts.

    [Edit] Oops, I see that the Paycheck Wizard only allows contributions and employer match to one 401k type account. You may need to set this up manually, using a split transaction for your paycheck, or use the Wizard to send all the contributions to one account then manually transfer the appropriate amounts to the other accounts.
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  • jnprop
    jnprop Member ✭✭✭
    edited October 2020
    Thank @Jim_Harman ! Turns out the 3 accounts under one plan are main account, an account related to a retirement loan, and the third is a Roth Account. I know I said me, but these are my husbands accounts and I didnt know he even had a Roth with TIAA Cref. So we can blame it on him. I am still working the kinks out to get this and other investments accounts functioning properly. Right now I am progressing. Im sure I will have more issues as their are more accounts at Ameriprise and a pension!

    Thanks!
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