If your client is receiving income from TIAA-CREF under a lifetime annuity option, he/she 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 nonbusiness 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 interested in transferring from TIAA Traditional (standard or graded income), we’ll send an illustration showing the possible impact such a transfer could have on his/her income. For this type of transfer, your client will also have to complete and return a transfer request form to TIAA-CREF.
There are no minimum transfer amounts. Transfers from a variable account can be expressed as a percentage of income (up to 100 percent), as any whole dollar amount, or as a number of annuity units.
Transfers from TIAA’s Graded to Standard Method can be stated in a percentage (up to 100 percent) or as any whole dollar amount.
Transfers from TIAA Traditional to CREF equity accounts can be up to 20 percent a year or 100 percent in equal installments over five years.
TIAA-CREF does not charge fees for transfers.