TIAA-CREF Plan Administrators

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Time & Money

Authorization Form

How Does Telephone Remittance Service Work?

Every time you are ready to send a payment, call 1 800 685-TIAA before 4:00 p.m. ET. Enter your security codes and the voice-activated system will guide you through the rest. The next business day, your account will be charged. Once balanced, your employees' contributions will be credited to their retirement plan accounts as of the day the funds were debited.

How Do I Know It Is Reliable?

The Social Security Administration uses it to pay monthly benefits. TIAA-CREF uses it to pay retirement income. And TIAA-CREF's processing bank is a well-known leader in the banking industry and in electronic funds transfer technology.

Payments are processed through the Automated Clearing House System. This clearing system is just like the system used for checks -- although payment information is relayed electronically rather than by physical check.

Is This Method Safe?

Yes. You are protected from unauthorized access to your account by security passwords and personalized dialogue. And Telephone Remittance Service allows transactions only between your account and TIAA-CREF.

Additional safeguards exist for your transactions. Each phone call can be retrieved, if necessary. You receive a verification code during your call for proof that a payment was made. And an audit trail of each transaction is created by a trace number that identifies your payment as it moves through the system

What Sort Of Confirmation Do I Receive?

You receive a verification code for your transactions at the end of your phone call. And your transaction will show on your bank statement. You will continue to receive a payment acknowledgment from TIAA-CREF.

Can I Use Any Bank?

Yes. You can use the bank where you have your current business checking account.

For banks that can't accept electronic fund transfers, TIAA-CREF's lead bank will issue an instrument that can be used instead.

What If I Make A Mistake?

If you realize you've made a mistake before you hang up, you can stay on the line for a Customer Service Representative. Otherwise, call the Administrator Telephone Center immediately so it can be corrected as soon as possible.

How Do I Get Started?

It's simple. Complete the Authorization Form. Return it to us with a voided or cancelled check from the bank account you want to use. TIAA-CREF's lead bank will verify the account information with your bank. This usually takes about two weeks. We'll let you know when you can start using Telephone Remittance Service by sending you easy to use step-by step instructions, your password and entry code.