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TIAA DRIP (Dividend Reinvestment Plan) And Extended Hours Trading (Pre Market and After Hours)


2021 TIAA CREF dividend reinvestment program fee and setup, commission, fractional shares. TIAA CREF DRIP plan enrollment for stocks. TIAA extended hours trading (pre market and after hours).



TIAA CREF DRIP Plans


Investors at TIAA can receive distributions from stocks and ETF’s either as cash, which is the default setup, or as fractional shares reinvested into the security. Unfortunately, the broker’s website does not offer an easy enrollment form like many other firms provide. Both TD Ameritrade and Merrill Edge, for example, offer simple on-line forms that can be used to quickly sign up for DRIP service.


Enrolling in TIAA’s DRIP Service


To change a security’s distribution schedule from a cash deposit to reinvestment of fractional shares, you will need to call the broker-dealer and request enrollment. The company does not even offer a pdf document to sign up.


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Mutual Fund Distributions


Besides stocks and exchange-traded funds, TIAA clients can also enroll mutual funds for automatic reinvestments. By default, dividends and capital gain distributions are paid in cash. But you can elect to have either dividends or capital gains or both paid as fractional shares reinvested into the fund. A mutual fund’s order page has the option to select either or both for a reinvestment schedule.


Automated Investment Plan


Besides reinvestments, TIAA also provides a service for regular purchases of mutual funds. To enroll a particular fund, you need to fill out a pdf document and then fax it back to the company at 1-800-914-8922. You can also mail it to:

TIAA
P.O. Box 1280
Charlotte, NC 28201-1280

The broker will also accept the document via website upload. Just go to ‘Profile & Settings’ in the top menu of the TIAA site, then click on ‘Messages.’ Within ‘Message Center’ you will find ‘Shared Files.’ Finally, select ‘Upload Files.’

The form can be sent to the company using its handy mobile app. Tapping on the menu icon with three horizontal bars will produce a side menu. Here, tap on ‘Upload documents’ and follow the on-screen instructions.

You will need your account number and the ticker symbols or CUSIPs of the funds you want to set up for automatic purchases. The form can also be used to establish regular sales of fund positions.

You can choose a frequency of monthly, quarterly, semiannually, or yearly. There is a minimum trade amount of $100. You must select a start date for these transactions, and you can also choose an end date if desired. The security position must first be established in your TIAA account before you send the form to the broker.

If you need any assistance signing up for any of TIAA’s reinvestment services, be sure to give the broker a call at 1-800-927-3059.


TIAA Review


TIAA brokerage rating

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Comparison


Compared to other broker-dealers, TIAA’s DRIP service is very sub-par. There isn’t much information on the service either on-line or over the phone. TD Ameritrade, by comparison, offers a convenient on-line form for signing up and a pdf document that describe the terms and conditions of its DRIP program. On the other hand, some brokers, like TradeStation, don’t offer DRIP service at all.






TIAA CREF Extended-Hours Trading Time and Fees


The stock market in the U.S. is open Monday through Friday from 9:30 am until 4:00 pm, EST. This is when most investors buy and sell ETF’s and stocks. However, oftentimes major events occur outside these hours. If you can only trade during the daytime, it may be too late to capitalize on any major price movements.

There are two trading sessions on either side of the standard trading period: the pre-market session and the after-hours period. These extended-hours sessions were created to give investors the ability to trade based on earnings announcements and other news events that occur outside the regular session.

Unfortunately, TIAA does not provide access to either the pre-market or the after-hours trading session. There are a few areas of brokerage services where TIAA fails, and extended-hours trading is one of them.


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Brokers That Offer Extended-Hours Trading


Many of TIAA’s rivals do offer their customers the ability to buy and sell during extended hours. One of them is Webull. The broker’s equity commission is $0, which is the same as TIAA’s trading fee. Trading at Webull starts at 4:00 AM EST and lasts till 8:00 PM EST.


Open Webull Account


Get 2 FREE stocks valued up to $1,850.

Open WeBull Account