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Withdrawals and Transfers Out

 
This section provides answers to participant questions about the rules for making withdrawals from or  transferring out of the TIAA Secure Income Account.
Note: Additional support is always available to you and the participant if you need it. Call 844-7-INCOME (746-2663) to have a TIAA Lifetime Income Consultant join your conversation.

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FAQs

You can withdraw or transfer your savings from the TIAA Secure Income Account any time and in any amount (depending on the rules of your employer’s plan). Keep in mind that withdrawals and transfers behave differently:
 
Withdrawals. If you make a partial withdrawal from your plan, you remain subscribed to the asset allocation program and rebalancing will continue. If you’re still eligible under the plan to make contributions, you can continue to contribute to the program, and your contributions will be allocated according to the programs’ rules.
 
Transfers. If you make a full or partial transfer out of the TIAA Secure Income Account, you are no longer subscribed to the asset allocation program. This means that you cannot contribute or transfer money to the TIAA Secure Income Account. If any money remains in the TIAA Secure Income Account after your voluntary transfer out, it may remain in the account and will continue to earn interest. However, you cannot contribute any more money to the TIAA Secure Income Account unless you re-subscribe to the asset allocation program.
 
Note that you will also not be able to contribute to the TIAA Secure Income Account if you transfer among any of the investment options in the asset allocation program. This type of transfer also unsubscribes you from the asset allocation program.

If your employer provides a plan loan program, you may take money out of the TIAA Secure Income Account to fund the loan, subject to the rules of your plan, the rules of the asset allocation program and applicable regulations.

Your choices will depend on the rules of your plan. Often, you may be able to keep your balance in the TIAA Secure Income Account after you stop working and it will continue to earn interest.
 
One of the key benefits of the TIAA Secure Income Account is being able to receive lifetime income. Subject to your plan’s rules, after you stop working you may be able to convert some or all of your balance to a stream of lifetime income from TIAA. You may also be able to make full or partial lump-sum withdrawals. However, you should consult your tax advisor if you stop working and want to begin lifetime income payments before age 59½.
 
After you stop working, you may also be able to roll over your balance to your new employer’s plan or an IRA. You can get Information about TIAA's IRA products at www.tiaa.org/rollovertoira
 
Let me check your plan’s specific rules.
 
Note to call center representative: Review the plan rules of the employer's plan to provide specifics on their options following termination.

If you have questions or need additional information, please contact TIAA_DCIO_Support@tiaa.org.   TIAA will be happy to help you.