Transfers among the CREF accounts and the TIAA Real Estate account, or to the TIAA Traditional Annuity, are free.

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. See below regarding transfers out of TIAA Traditional.

Transfers must be for at least $1,000 from any variable account, or the available balance if less than $1,000.

Transfer values will be calculated on the value of an accumulation unit in any variable account(s) as of the close of the New York Stock Exchange (NYSE), usually 4:00 p.m. ET, on the date we receive the instructions. 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.

Individuals can also schedule "systematic transfers" to move funds among the accounts gradually over time.

TIAA Traditional Annuity Transfers
Your clients can transfer out of the TIAA Traditional Annuity to our variable accounts over a ten-year period, through a TIAA Transfer Payout Annuity (TPA). 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.

The minimum TIAA Traditional Annuity transfer amount is $10,000, or your client's entire accumulation if less. If the TIAA Traditional Annuity accumulation is $2,000 or less, the entire amount may be transferred to the variable accounts in a single sum.

There are no limits on the number of your client's TPA contracts, and there are no expense charges for transactions.

Your client's future annual disbursements can be redirected to different variable accounts. Transfer payments can also be redirected back to the TIAA Traditional Annuity. However, such amounts will be treated as new contributions to the original contract, which means dividends will be credited at the rate for new contributions at the time each transfer payment is made, not the rate they were receiving before the original transfer.

To Request a Transfer
Your clients (or you on their behalf) can make transfers within the TIAA-CREF system via our Web Center Secure Access or Automated Telephone Service (1 800 842-2252), by calling our Telephone Center (1 800 842-2776), or by writing to TIAA-CREF at 730 Third Avenue, New York, NY 10017.