Quicken not seeing *new* TIAA contracts

PATar

Hello. I am on Quicken for Windows. TIAA has a traditional 'guaranteed' annuity. In order to transfer it from TIAA to a retirement account outside of TIAA, you have to close that contract in TIAA and place the assets in a new transfer contract. When I try to set up the new transfer contract in Quicken using the Add Account feature, Quicken does not see the new account. Has anyone encountered/solved this? Is there a way to add the account manually and still have it update online?

Jim_Harman

How is your annuity currently set up in Quicken?

Normally you would have a TIAA account in Quicken and in that account you would have a Security called "TIAA Traditional" or something like that. If the annuity is the only security in your TIAA account, it might be set up as a "Single mutual fund" account. You can click on the gear at the top right of the account and select Edit account details to see how it is set up; please let us know.

It sounds like you cashing out the existing annuity and buying a different contract to transfer to another financial institution (FI). In that case you would start by setting up the new account in Quicken using Tools > Add account. Then you could Sell the TIAA Traditional security, transfer the cash to the new account, and Buy the new annuity with the proceeds.

If you are doing something different, please explain.

PATar

Hello Jim,

"It sounds like you cashing out the existing annuity and buying a different contract to transfer to another financial institution (FI)." That is correct. In order to transfer the assets from this kind of TIAA account, TIAA requires you to set up a Transfer Payment Annuity (TPA). They close the old contract and move the funds to the TPA, which has a new contract number. The TPA pays out over annual installments, which is why I want to keep track of the activity in the new contracts…and be able to see/include the remaining balances in Quicken.

I tried setting up a new account using the Tools>Add Account process. When Quicken connects, it sees my existing contracts, but not the new ones for the TPAs (I had to set up two). Quicken is accurately downloading my remaining TIAA balances (I'm not transferring from all accounts right now, just the two annuities)…so if I had $X on Monday, Quicken is now showing I have $X minus the amounts moved into the new TPA contracts. Thoughts?

Jim_Harman

So the TPA annuity is still at TIAA but in a new account? When you set up the new account in Quicken for the TPA, are you saying it tried to connect to TIAA but did not offer to connect to the TPA account?

If you log in to the TIAA website, do you see the TPA account there? Is there a different login for the TPA?

I see there is another way to connect to TIAA, using "TIAA-CREF Brokerage Services" as the FI. Maybe that is the way to access the TPA.

If all else fails, you could contact your TIAA rep and they might be able to connect you with someone knowledgeable.

PATar

Just to finish this off…I talked with TIAA, they tell me that when you set up a Transfer Payout Annuity, Quicken can't download the data from that account…it has to be entered manually. So that's what I will do.