Advisors Working with Individuals

Take a Loan

Some employers allow employees to borrow against their TIAA-CREF Group Supplemental Retirement Annuities, Retirement Annuities, or Group Retirement Annuities accumulations.

TIAA-CREF retirement plan loans from GSRAs

  • Minimum loan amount is $1,000; maximum loan amount is the lesser of $50,000 or 45 percent of your client’s combined TIAA and CREF accumulations. The amount the plan can loan to your client is regulated by the Internal Revenue Code.
  • At least 110 percent of the loan amount must be kept as collateral in the TIAA Traditional Annuity GSRA.
  • Loans must be repaid in full within five years, or ten years if used to purchase a principal residence.
  • Interest rate is variable, indexed to Moody’s corporate bond yield average, and can be adjusted no more than once every three months if the Moody’s rate changes by at least one-half of one percent.
  • There are no TIAA-CREF application fees or processing charges.

Loans from the basic retirement plan (RA and GRA)

Some employers allow employees to borrow against their basic retirement plan accumulations (TIAA-CREF Retirement Annuities or Group Retirement Annuities). Again, TIAA-CREF imposes no charges or penalties on the loan. However, if repayments are not made as scheduled, we are required to report the defaulted amount to the IRS as a taxable distribution.

The minimum loan amount is $1,000. The maximum is the lesser of $50,000 or 45 percent of your client’s combined TIAA and CREF accumulations. At least 110 percent of the loan must be kept as collateral in the Retirement Loan Certificate. The loan must be repaid in full within five years, or ten years if it’s used to purchase a principal residence. The interest rate is variable, indexed to the Moody’s corporate bond yield average. Interest remains the same for the first year, and thereafter can be adjusted each year if Moody’s rate changes by at least one half of one percent.

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