TIAA-CREF Supplemental Retirement Plans and Group Supplemental Retirement Plans provide tax-deferred savings and let you put away more for retirement beyond the basic retirement plan your employer offers.
While the details of different tax-deferred plans vary, they all work the same way: Money goes straight from your paycheck to an investment account, reducing your current income taxes. What's more, your potential investment earnings won't be taxable until you withdraw them in retirement.
If employers offer a supplemental retirement plan, they determine the investment choices and other plan features. Then you decide how much to contribute and to which investments.
With higher contribution limits than IRAs and the potential for a larger tax benefit near term, tax-deferred plans from TIAA-CREF may be one of the best ways for you to build the retirement you want.
TIAA-CREF annuities and mutual funds have no sales charges. We aim to keep expenses low, so more of your dollars will be working for you.
Expenses are an important aspect of investing. To pay for a fund's operation and management, each investor is charged an expense fee, calculated as a percentage of the amount the investor has in the fund. Even if the fund loses money during a period, the fee is still charged.
Although an annual expense fee may seem relatively small, its effect on performance over time can be substantial. TIAA-CREF has some of the lowest expense charges in the industry.*
You can allocate your contributions among a variety of annuity accounts and, at some employers, mutual funds. You can change your allocation of future contributions at any time or transfer some or all of your funds between accounts, with no tax implications.
Contributions are voluntary additional amounts you can make on your own. The Internal Revenue Code limits the total amount you can contribute.
Limits on Employee Contributions
The maximum depends on your income, years of service, tax-deferred contributions you've made in the past and other factors. Most employees can contribute a maximum of $15,500 in 2008.
You may be able to contribute more if you have 15 years of service or are 50 or older.
All our plans offer the choice of lifetime income, in which regular payments are based on:
Generally, you may also be able to take cash withdrawals, or use other options to design your own payment schedule.
Learn more about Retirement Plan Income Options.
No taxes are due on contributions and earnings until the money is withdrawn. But because these plans are intended primarily for retirement, you can generally withdraw funds without penalties only after you've reached age 59½.
Find out if you are eligible for a TIAA-CREF supplemental retirement plan.
* Morningstar Datalab Charting Tool Report Peer Group Analysis (February 2006) based on Morningstar expense comparisons by category.
Supplemental Retirement Annuity contract form series 1200.8,
Group Supplemental Retirement Annuity contract form series G1250.1. GSRAs are not available in all states.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc. distribute securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1 877 518-9161 for a prospectus that contains this and other information. Please read the prospectus carefully before investing.
TIAA (Teachers Insurance and Annuity Association), 730 Third Avenue, New York, NY, 10017 issues annuities. Investment products are not FDIC insured, may lose value and are not bank guaranteed.
Learn more about opening a TIAA-CREF retirement plan account.
© 2008 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
