Clients receiving income from TIAA-CREF under a lifetime annuity option can still make changes, including:
Transfers are effective as of the close of business on the day the request is received, unless a future effective date is requested. Requests received on a non-business day are effective as of the close of business on the next business day. Once the requested transfer has been completed, we’ll send a statement confirming the transaction.
You or your client can make transfers:
If your client is considering transferring from TIAA Traditional (standard or graded income), we’ll send an illustration outlining the impact it might have on his or her income. For this type of transfer, your client will also need to complete and return a transfer request form.
There is no minimum transfer amount. Transfers from a variable account can be designated as a percentage of income (up to 100 percent), any whole dollar amount, or a fixed number of annuity units.
Transfers from TIAA’s Graded to Standard Method can be stated as a percentage (up to 100 percent) or any whole dollar amount.
Transfers from TIAA Traditional to CREF equity accounts can be made up to 20 percent per year or 100 percent in equal installments over five years.
TIAA-CREF does not charge fees for transfers.
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