austin3515 Posted July 6, 2011 Share Posted July 6, 2011 Anyone tried to transfer a plan out of TIAA? We;re aware of the tiaa-traditional account and the 10 year surrender period, but I was wondering about those plans set up with "RA" contracts, versus GRA contracts. Am I correct that there's really no way to transfer existing RA money because it is a contract with an individual? Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
mbozek Posted July 6, 2011 Share Posted July 6, 2011 Anyone tried to transfer a plan out of TIAA? We;re aware of the tiaa-traditional account and the 10 year surrender period, but I was wondering about those plans set up with "RA" contracts, versus GRA contracts. Am I correct that there's really no way to transfer existing RA money because it is a contract with an individual? Even worse, there is no cash value in an RA contract. Only benefit is an annuity in various forms. mjb Link to comment Share on other sites More sharing options...
austin3515 Posted July 6, 2011 Author Share Posted July 6, 2011 That doesnt seem possible (even for TIAA:) - you're saying they couldn't for example roll their balance to an IRA? Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
mbozek Posted July 6, 2011 Share Posted July 6, 2011 That doesnt seem possible (even for TIAA - you're saying they couldn't for example roll their balance to an IRA? Under the contract RAs have no cash value. Only a one time option when annuity benefits commence annuity owner can elect a single sum payment of 10% of account balance which can be rolled to an IRA. 100% lump sum is only available as a death benefit if death occurs before benefits are annuitized. As yogi says you can look it up on the T/C website. mjb Link to comment Share on other sites More sharing options...
Flyboyjohn Posted April 1, 2015 Share Posted April 1, 2015 Has there been any loosening of TIAA's grip on the annuity values since this thread back in 2011? Link to comment Share on other sites More sharing options...
mbozek Posted April 4, 2015 Share Posted April 4, 2015 none that I am aware of. Only way to get a lump sum in an RA is to die. mjb Link to comment Share on other sites More sharing options...
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