I have not heard anything about outsourcing or layoffs in Record Keeping Services. Maybe it's just rumors after all.
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As with all things TIAA, nothing happens on schedule. It's inevitable that the outsourcing is coming, but the brain trust has likely sc--wed something up, overlooked some critical detail, or is still negotiating a final piece before the formal announcement is made. The ending to this story is known, it's only the chapters between now and then that have yet to be read. In the meantime, there's still good money to be made so cash those checks while they last and pile up those retirement contributions for the rainy day that is on the horizon!
contract issues/details still being worked through
True. Likely some contract or money issue and they need to hold off a little to “get their paper right.”
That or they don’t want to scare interns from applying to the FTE positions they will need to rehire (happens every layoff and org change when talent is lost) but at a discounted price from that glass house in Frisco - speaking of I really hope they are F-5+ tornado proof but I highly doubt it.
TIAA couldn’t find their way out of a wet paper bag so I presume it’s just taking longer than anticipated/they bungled it and need more time.