Employees may borrow against their TIAA-CREF retirement plan contracts, as long as this option is available under the employer's retirement plan. When applying on-line, they will be provided with information on which contracts offer loans and how much can be borrowed.
Obtaining a loan has never been easier. Employees can log into Account Access and then click on "Get a loan now" from the right-hand column menu of the "Welcome..." page, complete the information and submit the on-line application. Approval for the loan is based on eligibility, which is determined by contract accumulation (a certain percentage must remain in the account as collateral) and availability based on the type of contract owned. If an employee prefers, they may also call 1 800 842-2776 Monday through Friday from 8:00 a.m. to 10:00 p.m., and on Saturdays from 9:00 a.m. to 6:00 p.m., ET., to speak with a consultant and have forms sent to them by mail.
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© 2008 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
