I have an offer for another company. But apparently I have to give a 4 week notice. How ridged is TIAA on this?
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Really depends on your position. If you're an RR, they will lock you out the day you give them notice.
I can confirm this is true. I referred a friend to be a WMA.....got 5K......he left with a two word resignation letter: "I Quit" and I have not heard from him in years.......I miss that guy.
They used to have a policy for WMA's that if you left within the first year, for any reason, you owed them the training costs which was like, $8,000 at the time. I don't know if it was enforceable or not, but we all had to sign something agreeing to it.
At the same time, the company was offering WMA's $5k to $10k bonuses if they referred a friend who was hired at TIAA. We used to joke that if we did that the person would no longer be our friend in about 6 months.
So if you’re offer is from like Vanguard or another retirement services company/ competitor then abide by the 4 weeks. If your going to Bank of America or some other area outside of the FinTech/Financial Services Retirement space you should be ok with 2. However…
If I were you I would ask HR for info or the policy for sure and check anything I signed like the other poster mentioned. Some of us signed things at the beginning and never looked at it since. Or some may be under an umbrella without even knowing it.
Like… You may be lumped in a bucket of “client facing” without even facing or dealing with clients at all but sadly the reorgs and things done every year or less lump people in one area in the wrong group versus being more specific. Been that way here for 20+ years and is a shame.
If this individual signed the Non-Solicitation Agreement which almost every individual client facing employee must do in order to maintain employment in their role then there is a legal and binding requirement for the 4 week notice (30 day "garden leave")......the individual is paid in full by TIAA to do nothing during this time, maintain loyalty to the company and not communicate with any clients or employees of TIAA......if this is what the original poster signed then I would not start up at the new company within that 30 days.
There is NO legal requirement to give a 4 week notice. Two weeks is a courteous if you want to leave on good terms.
Generally if you are licensed and tell your firm you are leaving for another licensed role at another firm they will let you leave effective immediately and pay you for your 2 weeks. Never heard of 4 weeks notice especially for a licensed role.
4 weeks… 2 weeks…
Closing two offices and trying to force relocate hundreds of associates to Texas of all places… They’ll be lucky to get 2 days notice.
No seriously if I am the OP I’d give the 4 weeks to both old and new employer. Work for 2 weeks and take 2 weeks off before the new job… I mean… Shouldn’t they have the PTO or RTO to use?
Pretty much ALL of the wealth client facing roles and FC roles require this "garden leave" period. The 4 week wait period was put into place in 2011 I believe.
Curious as to what role requires 4 week notice?
Pretty sad for a hire at will company that can lay you off with no notice same day or give you 2 years of an agonizingly long wait until your laid off like most folks in Denver.
Yikes, 4 weeks? Guessing you are licensed?
Tell your new employer you can start for 4 weeks, hopefully they don’t rescind the offer… then do your 2 weeks to train/offload responsibilities then coast the rest.
yep...let the new employer know. And just coast for the next month. Take PTO. What are they going to do...fire you?
Very Rigid. I have seen cases where a former TIAA employee leaves for another firm. Starts at the other firm within 30 days and was sued by TIAA because TIAA found out they violated the "garden leave" period. The former employee had to resign from the employer for a few weeks and rehire with the firm after the 30 days was up. TIAA was very litigious against this former employee. Remember TIAA is paying you during this 4 week period. If you have an agreement with TIAA it will be in your best interest to honor it.