What is the class action claim?
TIAA engaged in prohibited transactions under ERISA in connection with rolling participants in TIAA 401-K Plans out of TIAA record-kept plans and into TIAA managed IRAs which charged higher fees. Affected participants may have engaged in a partial rollover, leaving some assets in the plan invested in TIAA annuity funds, and rolling the rest into a managed IRA as part of the Completion Portfolio managed account program. Or a participant may have done a 100% rollover and invested in one of two TIAA managed account programs, Portfolio Advisor for accounts under $1m, and Private Asset Management for over $1 million.
Who can join this class action?
Any former employees of TIAA or employees of an employer using TIAA 401-k Plans affected by the above ERISA prohibited transactions within the past six (6) years.
Is there any cost to me?
No. All plaintiff attorneys are litigating this case on a contingency fee basis.
What if I signed a severance agreement with a release of claims?
Severance agreements generally cannot prevent you from being part of a class action or a being a class representative in this type of case. Please contact us if you have more questions on your specific severance agreement.
How can I help &/or participate?
1. We are interested in reviewing documents:
- Any TIAA 401-k plan documents
- Annual Fee Disclosure
- Statements – Please feel free to redact any personal data
Please email to firstname.lastname@example.org or fax to 212-389-6112.
- Refer other former TIAA employees or employees of an Employer using TIAA 401-K Plans by sharing this page and or posting on social media (FB, LinkedIn).
- Join the case as a plaintiff Class Representative.
Please feel free to email email@example.com or call 212-389-6111 with any additional questions.