TIAA Loan Reporting

[austin3515]

Anyone have a rational explanation for the changes TIAA made to how they are reporting defaulted loans? They're driving me nuts with this topic

[Belgarath]

What changes did they make? (So obviously no, I don't have an explanation, since I don't know what the changes are!)

[austin3515]

If you recall, last year, the Schedule H report was grossed up for the defaulted loans (not the offset ones). This change was made because to exclude the amounts from the TIAA Traditional account would be understating the plan's investment. But the participant level reports did NOT include those balances. The difference was summarized in a supplemental investment report (regarding defaulted loans). In 2012, they have now reported those defaulted loans as transfers in to the Plan on the participant detail report and zeroed out the defaulted loan investment on that report. And now, there is no way for me to report investments net of loans treated as deemed distributions, which I am supposed to do.

If you work with TIAA a lot then I suppose you know what I am talking about. IF you're an innocent bystander reading this post, stay the heck away from TIAA. It's like the Twilight Zone.