Prompt remittance of contributions - as soon as possible after the associated payroll date - is very important because your employees’ investment experience begins when contributions arrive in their accounts. TIAA-CREF has designed its systems to support you in handling all aspects of the remittance process quickly and smoothly.

To complete the process of crediting premiums to employees’ accounts, we must receive your remittance report with or prior to your remittance. The Securities and Exchange Commission otherwise requires that we return your payment.

Government regulation requires TIAA-CREF to notify you in the event that we do not receive your scheduled payment for a particular period. We are also required to notify your employee(s) of the missed amount(s) if we do not receive contributions within ten days following a scheduled remittance date.

TIAA-CREF must receive a back-up remittance report within 10 business days to process payment; SEC regulations require that we return payment without remittance data within this time frame.

The amount you send to us should be the same as that indicated on your remittance report. Should you remit more funds than necessary, we will refund the excess amount to your institution.

If your payment is less than the amount indicated on the remittance report, we cannot process any of the premiums. In this case, we will telephone you. Unless we receive the correct amount, we must return your remittance.

Enrollment information for new plan participants should arrive before (or with) the remittance report containing their first premiums. Permanent contracts cannot be issued until we receive completed enrollment information.