Until TIAA receives a restraining order or court entered Qualified Domestic Relations Order (QDRO), we cannot restrict a participant from making withdrawals. Internal transfers are allowed but with caution that it does not impede the instructions in the QRDO.
Once we receive a restraining order or QDRO a participant must cease account activity until the QDRO is implemented. When the QDRO is received, it will be implemented to the extent of the funds available in the accounts. Any balance has to be worked out among the claimants. TIAA cautions participants not to make withdrawals while they are still negotiating how property will be distributed.
If the participant makes further contributions, has elected withdrawals or transfers after the QDRO date, the contributions and transactions will be reflected solely on the participant’s account except for Required Minimum Distribution Options (MDO) elections and loans. While the marital property distribution is pending, obtaining the written consent of the spouse in exercising ownership options is required during the marriage for REACT-governed accumulations. Also, spousal consent may be required to execute certain transactions while the distribution settlement is pending. To find out whether your accumulations are governed by REACT call our counselors at 800-842-2776 weekdays from 8 a.m.-10 p.m. (ET) and Saturdays from 9 a.m.-6 p.m. (ET).
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