TIAA IRA accounts
Take charge of your financial future with a TIAA IRA
An IRA can help you grow your savings and may also help you lower your taxes. No matter your retirement goals, we have an IRA account that can help you work toward them.
What is an IRA?
An individual retirement account, or IRA, is designed to help you save for retirement and provide tax benefits. An IRA isn’t an investment itself—rather, it’s a “container” that can hold multiple investments. There are several types of IRAs, each with its own tax benefits and other rules. Two popular kinds are a traditional IRA and a Roth IRA.
With a
With a
Tiaa ira overview
Create a personalized IRA retirement plan
Tax benefits
Potential tax benefits now or during retirement, depending on the IRA you choose. Our IRA selector tool can help you decide which is right for you.
Personalized investments
Customize a portfolio specific to your goals and values with our extensive investment choices. Or choose a simple, all-in-one option like a prebuilt portfolio.
Actionable advice3
With a TIAA IRA can you get advice from professional Financial Consultants at no additional cost.4
How we’re different
Get guaranteed growth and retirement checks for life5
When you open a TIAA IRA, you’ll gain access to TIAA Traditional,* a fixed annuity that provides guaranteed growth no matter what's happening in the market. And when you're ready, you may activate lifetime income and receive retirement checks for as long as you live.
We also offer a standalone fixed annuity account that offers different features and rates. Compare your options to find the right fit for your goals.
*Issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.
How an ira works
How to open and invest with a TIAA IRA
We make it easy to open an IRA and we can be your partner as you open your account and choose your investments.
Apply online or over the phone
Start your IRA application online or call us at 844-TIAA-IRA (844-842-2472).
Fund your IRA
Make a contribution or roll over money from your previous retirement account (by direct transfer or check).3
Choose your investments
Decide how you want to invest. Choose a streamlined option, like a prebuilt portfolio, to make investing simple. Or manage your investments yourself, choosing among our annuities, mutual funds, socially responsible investments and more.
Track your progress
After you invest you can see how your money may have grown and manage your investments by logging in to your account.
Ira solutions
We offer several types of IRAs
No matter your retirement goals, we have an IRA account that can help you work toward them. Find the one that’s right for you and take advantage of potential tax benefits.
Traditional IRA
May be right for you if you think you’ll be in a lower tax bracket later in life.
- Contributions come from money that hasn’t been taxed, so you defer paying taxes until you withdraw money in retirement.
- You may be able to deduct contributions to lower your taxable income today.
- As long as you're working, you can contribute to a traditional IRA regardless of your income.
- You're required to withdraw starting at age 73 (per IRS rules).
Roth IRA
May be right for you if you think you’ll be in a higher tax bracket later in life, like when you retire.
- Contributions come from money that’s already been taxed, so you won’t pay taxes when you withdraw money in retirement.2
- With a Roth IRA you never pay taxes on investment earnings.
- You’re not required to withdraw your money at any age.
IRA Rollover6
May be right for you if you switch jobs or retire.
- Transfer your retirement savings from an old employer-sponsored plan, like a 401(k), into an IRA. You can also roll over from another IRA.
- With an IRA rollover, you keep potential tax benefits.
- Keeping your investments in one place gives you more control and a streamlined way to track your savings progress.
Existing TIAA IRA
- Current TIAA IRA owners can contribute or roll over funds
- Potential tax benefits, based on type of IRA
SIMPLE IRA for small business
- Designed for small businesses with 100 or fewer employees
- Allows employers and employees to contribute
SEP IRA for small business
- Self-employed or small business owner can contribute
- No mandatory annual contributions
Inherited IRA for beneficiaries
- Beneficiary can open account after owner passes
- Options for tax-deferred growth and withdrawals
Minor IRA for kids earning income
- Income-earning children can contribute
- Funds can compound over a lifetime with the same tax benefits as other IRAs
529 rollovers for beneficiaries
- Roll over unused college savings to a Roth IRA
- Contribute funds to a Roth IRA for tax-free income2 in retirement
Need help determining how much you can contribute this year?
Rollover ira
Looking to roll over to a TIAA IRA? We make it simple, with zero costs or fees.4
A rollover allows you to transfer your retirement savings from an old employer-sponsored plan, like a 401(k), into an IRA. Keeping your investments in one place gives you more control and a streamlined way to track your savings progress.6
Next steps
Ready to start? Open your IRA account online in less than five minutes.
Open an IRA
Open your IRA online or give us a call at 844-TIAA-IRA (844-842-2472). We’re here Monday through Friday, 8 a.m. to 7 p.m. (ET).
Roll over6
We make it simple, with zero costs or fees.
Contribute
Make a contribution to your existing IRA by logging in to your account.
Find out which IRA is right for you
Our IRA selector tool can help you choose an IRA that can work for your unique financial needs and retirement goals.
What people ask us
What is an IRA?
An individual retirement account, or IRA, is designed to help you save for retirement and provide tax benefits. An IRA isn’t an investment itself—rather, it’s a “container” that can hold multiple investments. There are several types of IRAs, and each has its own tax benefits and other rules. Two popular kinds are a traditional IRA and a Roth IRA.
What is a traditional IRA?
A traditional IRA is a way to save money for retirement while also potentially reducing your taxes. With a traditional IRA, you put in money before it's been taxed (pretax money). You may be able to deduct the amount you've contributed from your yearly income, which can decrease your tax bill now. Instead of paying taxes on that money today, you'll pay taxes when you withdraw.
What is a Roth IRA?
A Roth individual retirement account, or Roth IRA, is an investment account that helps you save for retirement and allows you to make tax-free withdrawals later in life, when you may be in a higher tax bracket than you are now.
Contributions: You contribute money that's already been taxed (as opposed to a traditional IRA where you put in pre-tax money), so your contributions and earnings in a Roth IRA grow tax-free.
Withdrawals: You can withdraw your contributions (money you’ve put into your IRA) at any time, tax-free. You can withdraw your earnings (money you’ve made from your investments) without paying taxes as long as you're at least age 59 ½ and made your first contribution at least five years ago.
What is a rollover IRA?
An IRA rollover is the process of transferring funds from an employer-sponsored retirement plan, often a 401(k) or 403(b), into an IRA retirement account. You can also roll over from another IRA. As you switch jobs or retire, an IRA rollover allows you to keep potential tax benefits and move funds to an account that can offer more investment options and flexibility than many employer-sponsored retirement plans.6
Who can open an IRA?
Anyone who earns income can open an IRA. At TIAA we have no minimum deposit requirements.
Can I borrow from my IRA?
The Internal Revenue Service (IRS) sets the rules for IRAs and does not allow you to borrow from your IRA. If you take money out early you may have to pay a 10% early withdrawal tax penalty.
The IRS does allow you to withdraw money early under certain circumstances, including some disability-related and medical expenses, buying a home and paying for higher education. Consult your tax professional for more information on your IRA and individual situation.
Ira resources
Keep learning with our IRA resources
How to invest your IRA
Get practical guidance on investment options.
Which IRA is right for you?
Our digital tool can help you decide.
Am I eligible for IRA?
Calculate your IRA contribution limits.
We’re here to help
Give us a call at 844-TIAA IRA (844-842-2472), weekdays, 8 a.m. to 7 p.m. ET, or schedule an appointment.
1 Deductibility of IRA contributions is subject to income limitations and withdrawals prior to age 59½ are subject to ordinary income tax and a 10% penalty may apply.
2 Withdrawals of earnings prior to age 59½ are subject to ordinary income tax and a 10% penalty may apply. Earnings can be distributed tax-free if distribution is no earlier than five years after contributions were first made and you meet at least one of the following conditions: age 59½ or older or permanently disabled. Beneficiaries may receive a distribution in the event of your death.
3 Financial Consultants provide advice and education using an advice methodology from an independent third-party.
4 There is no account fee to own a TIAA IRA; however, brokerage transaction fees may apply. In addition, investors are subject to the underlying funds' portfolio management fees and expenses.
5 Any guarantees under annuities issues by TIAA are subject to TIAA's claims-paying ability. Additionally, retirement check refers to the annuity income received in retirement. Guarantees of fixed monthly payments are only associated with TIAA's fixed annuities.
6 Prior to rolling over, consider your other options. You may be able to leave money in your current plan, withdraw cash or roll over the assets to a new employer’s plan, if one is available and rollovers are permitted. Compare the differences in investment options, services, fees and expenses, withdrawal options, required minimum distributions, other plan features and tax treatment. Speak with a TIAA consultant and your tax advisor regarding your situation. Learn more at TIAA.org/reviewyouroptions.
TIAA Traditional is a fixed annuity product issued through these contracts by Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY, 10017: Form series including but not limited to: 1000.24; G-1000.4; IGRS-01-84-ACC; IGRSP-01-84-ACC; 6008.8. Not all contracts are available in all states or currently issued. Annuity contracts may contain terms for keeping them in force. We can provide you with costs and complete details.
Any guarantees under annuities issues by TIAA are subject to TIAA's claims-paying ability.