First-year payments assume a conservative 4 percent return, and payments in subsequent years are adjusted up or down based on the market's actual performance. The TIAA Traditional Annuity has two payment methods. Both provide a guaranteed minimum payment, but they differ in the way they treat the dividends declared each quarter by the TIAA board of trustees. If the dividend rate remains the same from year to year, so does the income amount. In general, the standard method is probably best for clients who want to maximize their retirement income at the outset, while the graded method should over longer periods do a better job of protecting the real purchasing power of the client's retirement income stream.
Some employers also permit individuals to make cash withdrawals while they are still employed.
Minimum Distributions TIAA-CREF will calculate and pay your clients the minimum amount required annually by law. When clients begin their TIAA-CREF retirement income, they can also select the Retirement Transition Benefit. Changes can be as often as once per quarter, except for transfers out of TIAA Traditional, which can be once per year.