Any plan participant's actual minimum distribution depends on his/her actual accumulation and life expectancy factor from the Uniform Table in the Internal Revenue Code. Alternatively, it can be calculated on the life expectancy of the employee and spouse, if the spouse is the sole beneficiary, and is more than ten years younger than the participant. If the employee selects the dual expectancy, the minimum payment required will be smaller.

Under annuities issued to employees participating in a 403(b) retirement plan, only contributions and earnings credited after 1986 are subject to minimum distribution rules. Any contributions and earnings credited before 1987 are excluded. Pre-1987 accumulations are called grandfathered amounts. Ordinarily employees don't have to begin receiving payments from the pre-1987 accumulation until the year they reach age 75. Any amounts accumulated under qualified plans, such as 401(a), 403(a), and 401(k) plans, are not grandfathered regardless of the year when originally contributed.

Automatically pays out the smallest amount that will satisfy the employee's annual minimum distribution requirement.

Guarantees income for life to either one or two people. In most cases any annuity paid out over the owner's or owners' actuarially calculated lifetime(s) will satisfy the minimum distribution requirement.

Available on a single-sum or systematic basis if your institution permits. Employees who want to use systematic or single-sum cash withdrawals may need an annual recalculation to be certain that they take enough out each year to satisfy the requirement.

• Read Understanding Minimum Distribution...Making Your Decision With TIAA-CREF • Read TIAA-CREF Group SRA Loans • Read TIAA-CREF Retirement Plan Loans		• Read Pension Primer: Comparing 403(b) and Qualified Plans • Read Pension Primer: The Hows and Whys of Replacing a Defined Benefit Plan • Read Pension Primer: Keoghs: Retirement Plans for Self-Employed Income