An annuity product that accepts rollover distributions from certain retirement or tax-deferred annuity plans and other IRAs. TIAA-CREF eligibility rules apply. Contributions are not tax-deductible, but earnings are tax free, subject to certain conditions. Standard Payment Method. For the TIAA Traditional Annuity, a retirement payout option that pays the entire declared payout dividend in level installments over the remaining annuity period.
Payments can change from year to year if dividends rise or fall.
Initial payments will be higher than those of the Graded Payment Method. SRA provisions are essentially identical to those for Group Supplemental Retirement Annuities. Also, there is no loan feature under the SRA contract. Systematic Withdrawal . A cash option where participants can tailor payments to their specific needs while also electing to stop, restart, or change their payment schedules and amounts whenever they choose.