Updated 2026-03-30
Merrill vs TIAA 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and TIAA (#9, 7.9/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | TIAA |
|---|---|---|
| Overall Score | 8.0/10 | 7.9/10 |
| Rank | #8 | #9 |
| AUM | $3.0 trillion | $1.3 trillion |
| Participants | 5 million | 5 million |
| Plan Sponsors | 2,500+ | 15,000+ |
| Founded | 1914 | 1918 |
Ratings Comparison
| Category | Merrill | TIAA |
|---|---|---|
| Fees & Costs | 3.3/5 | 4.0/5 |
| Investment Options | 4.5/5 | 4.0/5 |
| Customer Service | 4.1/5 | 4.3/5 |
| Mobile App | 4.2/5 | 3.9/5 |
Fee Comparison
| Fee Type | Merrill | TIAA |
|---|---|---|
| Admin Fees | Varies by plan size | Varies by institution |
| Expense Ratios | 0.03% - 1.5% | 0.05% - 1.0% |
| Trading Fees | $0 - $6.95 | $0 for TIAA funds |
| Advisory Fees | 0.45% - 1.5% | 0.30% - 1.0% |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
TIAA Strengths
- Dominant in education sector
- Strong lifetime income/annuity options
- Mission-aligned for nonprofits
- Excellent retirement income planning
Rollover, Loans & Withdrawals
| Feature | Merrill | TIAA |
|---|---|---|
| Rollover Platform | Benefits OnLine | TIAA.org |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Online via TIAA.org, Phone (800-842-2252), TIAA offices |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Lifetime income annuity, Systematic withdrawals, Rollover to IRA |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose TIAA if you want:
- Educators
- Nonprofits
- Healthcare workers
- Income-focused retirees
Our Verdict: Merrill vs TIAA
Merrill Lynch wins this comparison with a score of 8.0/10 vs 7.9/10. Merrill excels with bank of america preferred rewards benefits, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Merrill vs TIAA: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and TIAA for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while TIAA is known for education focus. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to TIAA's 0.05% - 1.0%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while TIAA has $1.3 trillion AUM and 5 million participants.
Key Differences: Merrill vs TIAA
When comparing Merrill and TIAA, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while TIAA stands out for dominant in education sector. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Merrill's customer service rating is 4.1/5 compared to TIAA's 4.3/5. For mobile experience, Merrill scores 4.2/5 while TIAA scores 3.9/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose TIAA if you're looking for educators. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Merrill and TIAA provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while TIAA is best for educators. The right choice depends on your employer's plan and your priorities.
Merrill charges expense ratios of 0.03% - 1.5% with admin fees of Varies by plan size. TIAA charges 0.05% - 1.0% expense ratios with admin fees of Varies by institution. Merrill's fees rating is 3.3/5 compared to TIAA's 4.0/5.
Yes, you can roll over between Merrill and TIAA. Merrill uses Benefits OnLine for rollovers, while TIAA uses TIAA.org. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. TIAA offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Merrill scores 4.5/5 for investment options, while TIAA scores 4.0/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. TIAA offers TIAA Funds, CREF Variable Annuities, Target Date Funds.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. TIAA is best for educators, nonprofits, healthcare workers, income-focused retirees. Compare admin fees: Merrill charges Varies by plan size vs TIAA's Varies by institution.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-30