TIAA is a fixed annuity with investments providing a guaranteed benefit. The TIAA Real Estate Account and the CREF accounts have a variable rate of return and are not guaranteed. Participants may allocate monthly premium payments between TIAA and CREF accounts in any whole number proportion. The allocation choice is made when you begin participation. Retirements benefits under ARP are paid in the form of an annuity which provides lifetime income for participants.
Coverage begins on the first day of the month following one year of continuous services.
There is no cost to the employee. It also provides data on personal accounts, account performance, and options and flexibilities. You can also use the Web-site to make transactions to your accounts.