* Funds applied to TIAA Traditional from July 1, 2015 through July 31, 2015 will be credited with the indicated rates until February 29, 2016. Funds transferred to TIAA Traditional between July 1, 2015 through July 31, 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.
From 03/01/15 to 02/29/16
|07/01/15 - 07/31/15||3.50%|
|06/01/15 - 06/30/15||3.35%|
|04/01/15 - 05/31/15||3.25%|
|06/01/14 - 03/31/15||3.10%|
|07/01/13 - 05/31/14||3.35%|
|01/01/12 - 06/30/13||2.85%|
|01/01/10 - 12/31/11||3.35%|
|01/01/09 - 12/31/09||3.60%|
|01/01/08 - 12/31/08||4.35%|
|06/01/06 - 12/31/07||3.60%|
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 Retirement Choice Plus contracts 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 RCP contracts from March 1, 2015 through February 29, 2016 is 1.00%.
For Benefits Arising From
|2014 - 2015 vintages||3.25%|
|2012 - 2013 vintages||3.50%|
|2010 - 2011 vintages||4.50%|
|1998 - 2009 vintages||4.75%|
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%.
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.
Participant Withdrawals and Transfers
Retirement Choice Plus 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.
The Contractholder (typically your employer as the sponsor of your plan), has the right to request a transfer of the contract's entire TIAA Traditional Annuity accumulation. This might occur, for example, if your employer has elected to use a new recordkeeper and has also elected to terminate the contract with TIAA. If elected, your TIAA Traditional accumulations would be reinvested at the direction of your plan sponsor. Contractholder-initiated transfers from the TIAA Traditional Annuity accumulation will be paid in a series of 84 monthly installments, each subject to a 1.50% surrender charge. Please refer to your contract certificate for additional details.
Retirement Choice Plus Contract form Series IGRSP-01-5-ACC, IGRSP-01-60-ACC, IGRSP-01-84-ACC, Certificate Series IGRSP-CERT1-5-ACC, IGRSP-CERT1-60-ACC, IGRSP-CERT1-84-ACC
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.