It is also helpful if you contact us when you learn of the death of a former employee, or of an annuitant.
Beneficiaries can take their survivor benefits in any of several ways.
Some create guaranteed income streams for life, or for a designated number of years. Others hold the funds on-deposit for use at a later date. The spouse has to take the benefit in a single sum and roll it over to an IRA within 60 days after receiving payment. The spouse should consult a tax advisor before making a rollover. He or she can also leave the funds with TIAA-CREF and later take advantage of a wide range of payment choices.