TIAA Traditional Annuity

^* Interest credited to TIAA Traditional Annuity accumulations includes a guaranteed rate, plus additional amounts that are not guaranteed but may be established on a year-by-year basis. These additional amounts, when declared, remain in effect through the end of the "declaration year," which begins each March 1.The guaranteed annual interest rate is 3% for all premiums remitted since 1979 under all TIAA Traditional Annuity accumulating contracts, except that for Retirement Choice & Retirement Choice Plus Annuities the guaranteed rate is between 1% and 3% , as specified in the contract. The minimum guaranteed rate applicable to contributions and transfers into the TIAA Traditional Annuity account under RC contracts during 2010 is 1.00%. This rate will continue to be guaranteed to these 2010 contributions and transfers for 10 calendar years. The minimum guaranteed rate applicable to contributions and transfers into the TIAA Traditional Account under RCP contracts from March 1, 2010 through February 28, 2011 is 1.25%.

^** If you have a Retirement Annuity (RA) contract, the TIAA annuity contract does not allow lump-sum cash withdrawals from the TIAA Traditional Annuity and transfers must be spread out in ten annual installments. If you have a Group Retirement Annuity (GRA) contract and subject to the terms of your employer’s plan, lump-sum withdrawals are available from the TIAA Traditional Annuity only within 120 days after termination of employment and are subject to a 2.5% surrender charge. All other withdrawals and transfers from the account must be spread over ten annual installments (over five years for withdrawals after termination of employment). For Retirement Choice Annuity (RC) contracts, subject to the terms of your employer’s plan, within 120 days after termination of employment, withdrawals from the TIAA Traditional Annuity may be made available in a lump sum. Such withdrawals are subject to a 2.5% surrender charge. At all other times, withdrawals and transfers from TIAA Traditional must be spread over an 84-month period (7 years) in monthly systematic payments.

SRA, GSRA, RCP, IRA, and Keogh contracts allow for transfers and withdrawals.

In addition, when a participant transfers out of the TIAA Traditional Annuity and transfers back within 120 days, the amount, up to the original transfer, will be credited with the same interest rates that would have applied if the transfer out had not taken place. Such interest will be credited from the date the transfer in was made. Interest will not be paid for the period from the date of transfer out to the date of transfer in. This provision is designed to mitigate the effects of disintermediation by discouraging switching for purposes of obtaining a higher interest rate.

Retirement plans may not offer all contract types shown above.

Retirement Annuity (RA) TIAA Contract form series 1000.24;
Group Retirement Annuity (GRA) contract form series G-1000.4 or G-1000.5; G1000.6 or G1000.7 (not available in all states)
Supplemental Retirement Annuity contract form series 1200.8;
Group Supplemental Retirement Annuity contract form series G1250.1 (GSRA’s are not available in all states);
IRA Annuity TIAA Contract form series 1280.2 or 1280.4 (not available in all states)
Roth IRA Annuity TIAA Contract form series 1280.3 or 1280.5 (not available in all states)
Keogh Annuity contract form series G1350 (Keoghs are not available in all states) .
Retirement Choice Contract form Series IGRS-01-5-ACC, IGRS-01-60-ACC, and IGRS-01-84-ACC, Certificate Series IGRS-CERT1-5-ACC, IGRS-CERT1-60-ACC, IGRS-CERT1-84-ACC;
Retirement Choice Plus Contract form Series IGRSP-01-5-ACC, IGRSP-01-60-ACC, IGRSP-01-84-ACC, Certificate Series IGRSP-CERT1-5-ACC, IGRSP-CERT1-60-ACC, IGRSP-CERT1-84-ACC.

Teachers Insurance and Annuity Association (TIAA), New York, NY Issues annuity contracts.