* Funds applied to TIAA Traditional from April 1, 2015 through April 30, 2015 will be credited with the indicated rates until February 29, 2016. Funds transferred to TIAA Traditional between April 1, 2015 through April 30, 2015 will begin earning interest at the beginning of the next calendar day following the effective date of the transfer, and will be credited with the indicated rates through February 29, 2016. Inception date for this contract is October 11, 2010.
The TIAA Traditional Annuity is a guaranteed annuity account backed by TIAA's claims-paying ability. It guarantees your principal and a contractually specified minimum interest rate, plus it offers the opportunity for additional amounts in excess of this guaranteed rate. These additional amounts are declared on a year-by-year basis by the TIAA Board of Trustees.
From 03/01/15 to 02/29/16
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. For IRA Contracts (issued on or after 10/11/2010) 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 Account under this contract from March 1, 2015 through February 29, 2016 is 1.00%.
For Benefits Arising From
Actual annuity income amounts are based on these interest rates and assumed mortality rates. Rates apply to annuities using the Standard Payment Method. First-year benefits under the Graded Payment Method are based on a 4% total rate. Payments in subsequent years using the Graded Payment Method increase to reflect the difference between the Standard Payment Method additional amount rate that would have applied in the prior year and 4%. IRA payouts issued on or after 10/11/2010 will be made according to the most recent payout interest rate. Note: the payout interest rate for all IRA Minimum Distribution Options and IRAs resulting from divorce settlements when the originating contract was issued before 10/11/2010 will be from the corresponding payout vintage(s) noted.
Additional amounts are not guaranteed for future years. TIAA Traditional is a guaranteed insurance contract and not an investment for Federal Securities Law purposes. All guarantees are subject to TIAA's claims paying ability.
IRA contracts allow for transfers and withdrawals. 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.
IRA Annuity TIAA Contract form series TIAA-IRA-01
Roth IRA Annuity TIAA Contract form TIAA-Roth-01
1These rates apply to IRA contracts issued on or after 10/11/2010. Note: All IRA Minimum Distribution Option contracts and IRA contracts issued on or after 10/11/2010 as a result of a divorce settlement will be given the same rate as the originating contract
Teachers Insurance Annuity Association of America (TIAA), New York, NY Issues annuity contracts.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.