Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Asking retirees with TIAA-Cref accounts ..
Old 08-30-2020, 09:56 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Posts: 1,157
Asking retirees with TIAA-Cref accounts ..

Hi ..This question is for people who are already retired and withdrawing from TIAA-Cref.

I have a 403B account with TIAA-Cref and I have cash parked in "Tiaa-Cref Traditional". The 403B is a supplemental pre-tax account when I add more to my Tiaa-cref 401K. Can you selectively just withdraw from Tiaa-Cref Traditional cash account during a market downturn and leave the equities/stocks untouched? Since i have not withdrawn from Tiaa-cref, just wanted to ask. Thanks in advance.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-30-2020, 11:38 AM   #2
Recycles dryer sheets
 
Join Date: Jun 2011
Posts: 369
You can designate what investments you want the withdrawal to come from. I retired prior to age 59.5 and needed the funds to live in for a couple of years. I used my supplemental TIAA Traditional as my liquid account. If I did any rebalancing the funds went there to earn interest until my next withdrawal. I did not establish any regular paymwnts. I just submitted my paperwork twice a year when I needed to replenish my bank account. It was very easy to handle.
pjm-7 is offline   Reply With Quote
Old 08-30-2020, 11:46 AM   #3
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Posts: 1,157
Quote:
Originally Posted by pjm-7 View Post
You can designate what investments you want the withdrawal to come from. I retired prior to age 59.5 and needed the funds to live in for a couple of years. I used my supplemental TIAA Traditional as my liquid account. If I did any rebalancing the funds went there to earn interest until my next withdrawal. I did not establish any regular paymwnts. I just submitted my paperwork twice a year when I needed to replenish my bank account. It was very easy to handle.
Thanks! This is very helpful for my AA and planning to ride out on any downturn in the equities market.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 09-13-2020, 06:48 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,113
It could depend on the vintages of your TIAA traditional accounts. Some accounts have to be annuitized to cash them out. It doesn't have to be a lifetime annuity - can be a Transfer Payout Annuity.
__________________
"Time wounds all heels...." - Groucho Marx
LRDave is offline   Reply With Quote
Old 09-13-2020, 10:46 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ls99's Avatar
 
Join Date: May 2008
Posts: 5,712
I used to have TIAA. At one point wanted to change beneficiaries, they sent me about 5 pages of stuff to fill out. Instead I closed out the accounts and moved the $ to vanguard. There was not much there after the annuity payout was completed after ten years.

At Vanguard I can change beneficiaries online in about 5 minutes. Including the phone call from them for verification.
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 09-13-2020, 11:00 AM   #6
Recycles dryer sheets
Happyras's Avatar
 
Join Date: Jun 2015
Location: Redmond
Posts: 463
Can the Creef annuity account be rolled over into an IRA or does it have to be liquidated as a cash settlement/annuitized? It does earn a steady interest rate, but my wife turns 65 in a few months and we need to decide what we can do with this.
Happyras is offline   Reply With Quote
Old 09-13-2020, 11:02 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ls99's Avatar
 
Join Date: May 2008
Posts: 5,712
AFIK, no. I had to take it as a 10 year payout.
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 09-13-2020, 11:10 AM   #8
Recycles dryer sheets
fosterscik's Avatar
 
Join Date: Jun 2013
Posts: 361
Quote:
Originally Posted by Happyras View Post
Can the Creef annuity account be rolled over into an IRA or does it have to be liquidated as a cash settlement/annuitized? It does earn a steady interest rate, but my wife turns 65 in a few months and we need to decide what we can do with this.
It depends on your contract with TIAA/CREF. I was able to rollover 100% of my holdings to an IRA without any delay. You really need to read your contract.
__________________
"Success = talent + luck, while great success = a little more talent + a lot of luck"
Thinking, Fast and Slow, Daniel Kahneman
fosterscik is online now   Reply With Quote
Old 09-13-2020, 11:16 AM   #9
Recycles dryer sheets
Happyras's Avatar
 
Join Date: Jun 2015
Location: Redmond
Posts: 463
Quote:
Originally Posted by fosterscik View Post
It depends on your contract with TIAA/CREF. I was able to rollover 100% of my holdings to an IRA without any delay. You really need to read your contract.
Thanks for that thought, but finding a contract is likely not going to happen. I went to the account web site and they do not offer such terms. They do say to call to discuss starting withdrawals, but no offer to call for rollover. I guess we start dialing.....
Happyras is offline   Reply With Quote
Old 09-13-2020, 09:12 PM   #10
Thinks s/he gets paid by the post
Out-to-Lunch's Avatar
 
Join Date: Jan 2020
Location: Milwaukee
Posts: 1,291
Quote:
Originally Posted by Happyras View Post
Thanks for that thought, but finding a contract is likely not going to happen. I went to the account web site and they do not offer such terms. They do say to call to discuss starting withdrawals, but no offer to call for rollover. I guess we start dialing.....
You can probably tell by looking for a link called "Fact Sheet" for your investment. There is a section in the fact sheet called something like "Withdrawals and disbursements." They have about 6 or 8 VERY similar sounding accounts that differ in this section. For some, you are locked in for a 10-year minimum payout, for others you can cash out in a day.

To distinguish, I find it easiest to look at the returns of the funds. If they list a 10-year return of about 3.75%, you cannot just cash it out. If they list a 10-year return of about 3.2%, this is probably an account you can transfer out of immediately.
Out-to-Lunch is offline   Reply With Quote
Old 09-14-2020, 07:45 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 5,005
TIAA/CREF is a huge company with teachers, hospitals and governmental instutions' funds. Unfortunately they've never performed as well as some of the budget, large operations like Fidelity, Vanguard and others. So many people kept their money in TIAA's annuities rather than playing the equities for the long run.

There are many account holders that are critical of the telephone sales persons at TIAA/CREF getting answers to their questions. It's hard to get a straight answer out of them.

Most of my wife's funds there are in the 403B stock account. But she also has a minor annuity account that she's left there as the really conservative part of her portfolio.
Bamaman is offline   Reply With Quote
Old 09-14-2020, 07:15 PM   #12
Recycles dryer sheets
 
Join Date: Sep 2018
Posts: 224
Agree- It depends on your contract with TIAA/CREF.
I have 3 different contracts bec I ve worked for 3 Universities.

My in person sales rep is good and I met with him the day before my state shut down for COVID. Have not tried telephone meeting - so YMMV
Octogirl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
TIAA-CREF FinanceDude FIRE and Money 5 09-25-2006 12:53 PM
Anyone with experience of TIAA-CREF brokerage nun FIRE and Money 6 05-16-2006 07:02 AM
TIAA-Cref retail mutual funds nun FIRE and Money 8 04-22-2006 01:39 PM
TIAA CREF = teachers annuity side mangodance FIRE and Money 3 07-02-2005 10:42 AM
Understanding my mom's Tiaa-Cref account? soupcxan FIRE and Money 3 04-12-2005 12:18 AM

» Quick Links

 
All times are GMT -6. The time now is 06:07 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.