For transfers among the CREF accounts and the TIAA Real Estate account, or to the TIAA Traditional Annuity, transfers are free of cost. Up to four transfers per account per quarter are available for the CREF accounts. The TIAA Real Estate Account limits transfers to one per quarter. Instructions we receive after the NYSE closes are effective at the close of the NYSE on the next business day.
Individuals can request that a variable account internal transfer be effective on a future date.
This might be an option if individuals are going to begin receiving retirement benefits and want to move a portion of their funds into the TIAA Traditional Annuity, or among the TIAA-CREF variable accounts. The future date specified must be a business day. Ten percent of the total amount will be transferred as soon as the TPA contract becomes effective. The remaining 90 percent will be transferred in ten substantially equal annual installments on the last day of each TPA contract year. There are no limits on the number of your client's TPA contracts, and there are no expense charges for transactions.