How much expense, restriction, or other pain does a participant suffer on leaving TIAA-CREF?

[Peter Gulia]

An employer has a § 403(b) plan, elective deferrals only, with only TIAA-CREF.

The employer is considering a different provider for ongoing § 403(b) elective deferrals.

The employer assumes it lacks power to remove assets from TIAA-CREF. Even if it might have some such power, the employer would be reluctant to interfere with an individual’s choice to continue with TIAA or CREF for previously accumulated assets.

If it matters, this governmental plan cannot be ERISA-governed, no matter what provisions or restrictions the employer might set.

If an individual considers rollovers, if 59½, or § 403(b) transfers from TIAA or CREF to the new provider:

What exit expenses will that bear?

Is there a lock-up on all or some of the TIAA credited-interest contracts?

What else should an adviser to this employer or its participants tell them to worry about?

[Peter Gulia]

I'm not looking for details, only an anecdotal and general sense of others' experiences.

[acm_acm]

On 6/2/2026 at 9:23 AM, Peter Gulia said:

Is there a lock-up on all or some of the TIAA credited-interest contracts?

The traditional TIAA fixed annuity has a restriction on withdrawals.  They have to be evenly spread over 10 years.  Yes, 10 years.