Contact your benefits office to learn more.

To obtain vesting information regarding this plan, contact TIAA at 800-842-2252.

LOANS

DISTRIBUTIONS

Age based distribution

Your employer will typically allow you to withdraw funds once you've reached 59.50.

Lump-sum distribution

You can withdraw all or part of your account in a single cash payment, depending on your plan rules and the terms of your contracts.

• Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted to taking periodic payments under the terms of the contract. Please refer to your contract or certificate for full details or contact us at 800-842-2252.

Disability

You can withdraw elective deferrals and earnings from your retirement plan while employed by your institution but not working due to a disability.

• To qualify you must be totally and permanently disabled, and the deferrals and earnings must have been credited to your plan on or after January 1, 1989.
• Disability withdrawals are not subject to the 10% IRS penalty on withdrawals prior to age 59½.

Rollover

Prior to rolling over, consider your options. You may be able to leave money in your current plan or withdraw cash. Compare the differences in investment options, services, fees and expenses, withdrawal options, required minimum distributions, other plan features, and tax treatment.

If you have had an IRS-defined "triggering event," and your plan allows withdrawals, you can roll over your accumulations to another retirement plan that will accept them or to an Individual Retirement Account (IRA).

• Direct rollovers - from one account to another - are nontaxable and not reported as income to the federal government. Your plan's rules specify when you are eligible for a distribution.

If you're married, you may be required to get spousal consent to receive any distribution option other than a qualified joint and survivor annuity.

This plan allows you to receive a cash withdrawal. This may be restricted by the terms of your TIAA contracts. Taxes and penalties may apply.

Understanding investment fees

Your financial well-being is TIAA's top priority and we are committed to helping you make informed decisions. Fees should be just one factor in your decision-making process since the lowest cost option may not be the best one for you.

Cost of plan services

Fees and expenses have always been part of a retirement savings plan-some fees are associated with the administration of the plan and may be covered by your employer, while others are paid by you based on the specific investments and services you choose. The following three categories of services are provided to your plan:

1. General record keeping and other plan services

Over the course of a year you pay for services like record keeping.

Many services are necessary for the day-to-day operation of your employer's retirement plan. General administrative services include recordkeeping, legal, accounting, consulting, investment advisory and other plan administration services. Some of these expenses are fixed and other expenses may vary from year to year. These costs are allocated to each participant in a uniform way.

A TIAA Plan Services Fee, an annual service fee of .2%, is charged based upon your account balance and deducted on a Quarterly basis.

To pay for general administrative services, an annual TIAA Plan Servicing Fee of up to 0.2% will be deducted from certain investments in your account on a Quarterly basis.

In some cases, investment providers share in the cost of administration. This practice is called "revenue sharing" whereby an investment company may pay a portion of an investment's expense ratio to TIAA, the recordkeeper, to help offset the cost of administration.

• If you have an investment with revenue share less than 0.2%, the difference is deducted from your account as a TIAA Plan Servicing Fee.
• If you have an investment with revenue share more than 0.2%, the difference is credited to your account as a TIAA Plan Servicing Credit.
• If you have an investment with revenue share equal to 0.2%, there is no additional TIAA Plan Servicing Fee or Credit.

A Non-TIAA Plan Services Fee, an annual service fee of .15%, is charged based upon your account balance and deducted on a Quarterly basis.

2. Specific investment services
You pay only for what you use.
Each investment offered within the plan charges a fee for managing the investment and for associated services. But you pay only for the investments you actually use and in proportion to the amount of your investment. These fees are not deducted directly from your account; they are paid indirectly through the investment's "expense ratio". The specific expense ratio for each plan designated investment option is listed in your Quarterly Investment UpdateOpens in a new window.

3. Personalized services

You can opt for extra features, like loan services.

Personalized services provide access to a number of plan features and investments that you pay for, only if you use them. The personalized services used most often are:

Brokerage account

To learn more about the brokerage service including fees call 800-927-3059 or Get the BasicsOpens in a new window.

Qualified Domestic Relations Orders (QDRO)
No additional charge
Sales charges, purchase, withdrawal and redemption fees for certain investments
Certain charges may apply. For additional information, see Quarterly Investment UpdateOpens in a new window.

More information about retirement plan fees and expenses is available at TIAA.org/fees.