• 59½ in Service — You generally can withdraw funds, attributable to elective deferrals, from your account while still employed once you have reached age 59½. The amount you can withdraw is subject to your plan's rules. Talk to your benefits office for details.
   
• Lifetime Retirement Income
  • One-life annuity — provides income for as long as you live.
     
  • Two-life annuity — provides lifetime income for you and an annuity partner (your spouse or someone else you name) for as long as either of you live.
     
  • One- or two-life annuity with guaranteed period — guarantees income for up to 20 years, as long as the period you choose does not exceed your life expectancy. It ensures that income continues to go to your beneficiaries for the remainder of the guaranteed period if you (one-life annuity) or both you and your annuity partner (two-life annuity) die before the end of that period.
     
• Lump Sum — You can withdraw all or part of your account in a single cash payment, depending on your plan rules and the terms of your contracts. (Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted to taking 10 annual payments under those terms). Talk to your benefits office for details.
   
• Minimum Distribution Option — Generally, you must begin taking minimum withdrawals from your account by April 1 following the year in which you turn age 70½ or retire, whichever is later. This can help you defer the minimum required distribution while keeping you in compliance with federal regulations.
   
• Retirement Transition Benefit — If your contract allows, you can withdraw, in cash, up to 10% of your accumulation at the beginning of a conversion to lifetime annuity income. The amount you withdraw will reduce your lifetime annuity income accordingly.
   
• Single-Sum Death Benefit — A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income.
   
• Systematic Withdrawals — If your plan allows, you can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. You can increase, decrease or suspend the payments at any time. (Note: These withdrawals are not available from TIAA Traditional Account balances.)

If you're married, you may be required to get spousal consent to receive any distribution option other than a qualified joint and survivor annuity.

Your Tax-Sheltered Annuity Plan (TSA) is designed to provide you with income throughout your retirement. Leaving money in your account may allow the funds to grow on a tax-deferred basis.

The Tax-Sheltered Annuity Plan (TSA) allows you to receive a cash withdrawal. This may be restricted by the terms of your TIAA-CREF contracts. Taxes and penalties may apply.

No taxes are due on pretax contributions and earnings made until the money is withdrawn, but because these plans are intended primarily for retirement, you can generally withdraw funds only after termination of employment or age 59½ (subject to plan rules). If you withdraw funds before age 59½, they may be subject to an additional 10% early-withdrawal penalty.

For additional information and guidance, contact your tax advisor. No taxes are due on pretax contributions and earnings made until the money is withdrawn, but because these plans are intended primarily for retirement, you can generally withdraw funds only after termination of employment or age 59½ (subject to plan rules). If you withdraw funds before age 59½, they may be subject to an additional 10% early-withdrawal penalty.

Any earnings on the contributions you make to a retirement plan grow tax deferred. The taxable income you'll pay upon withdrawing funds depends on the type of contributions you make to the plan.

If you make pretax contributions, withdrawals are fully taxable as ordinary income. If you make after-tax Roth 403(b)/401(k) contributions, the contributions are always tax free when you begin to withdraw from the plan. However, in order to receive the Roth earnings tax-free you must meet the five year seasoning period and attain age 59½ or if you are disabled. The payment of Roth 403(b)/401(k) accumulations will be on a pro-rata basis including both contributions and earnings as required by the Internal Revenue Code.

For either type of contribution, withdrawals before age 59½ are generally subject to a 10% early withdrawal penalty on the taxable portion of the amount received.

Important: The tax information contained here is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It is written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Important: TIAA-CREF doesn't offer loans on Roth accumulations in 403(b)/401(k) plans. Roth accumulations will be excluded from the collateral when the loan is issued.

If you have accumulations in other employers' plans, you may be able to transfer or roll them over to this plan in order to increase your maximum loan amount if  this plan allows it.*

* Prior to initiating a transfer of assets, be sure to carefully consider differences in features, costs, charges and expenses, services, company strength and other important aspects. There may also be surrender charges and tax consequences associated with the transfer. Indirect transfers may be subject to taxation and penalties. Consult with your own advisors regarding your particular situation.