You can help your clients transfer or roll over retirement plan assets from other retirement plan providers into TIAA-CREF. To do so, complete a form from both their current carrier (if required) and TIAA-CREF.
Tax-free rollovers are permitted between qualified plans, 403(b) plans, governmental 457(b) plans, and all IRAs. For rollovers to a non-IRA account, contact the benefit office of the administrating institution for plan rules.
TIAA-CREF imposes no minimum or maximum on transfers or rollovers. They can be made at any time, free of charge.
The retirement plan provider should receive a request to transfer funds to TIAA-CREF within about three days after TIAA-CREF receives all completed paperwork in good order. The entire funds transaction is typically complete ten to fifteen business days after this paperwork is received. This includes a waiver stating that the individual is aware that the funds are subject to the rules of the plan to which they are being transferred.
Be sure to carefully consider differences in features, costs, charges and expenses, services, company strength and other important aspects. Surrender charges and tax consequences may be associated with the transfer. Indirect transfers may be subject to taxation and penalties. Individuals should consult with their own advisors regarding their specific situation.
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