Forms of Payment from CREF

You may choose to receive your CREF funds in one of several ways.

Lump sum

You may receive a lump sum distribution from the TIAA Real Estate Account and CREF for all or part of the full value of your accounts at the time of payment.

Fixed Period Payments

TIAA Real Estate and CREF accumulations may be taken over any period between 2 and 30 years, subject to IRS restrictions. At the end of the selected period, CREF payments will end.

Lifetime Annuity

A lifetime annuity may be received from your TIAA Real Estate Account and CREF Account. Lifetime annuity income is the only payment method that ensures you will never outlive your retirement income. It is also a permanent arrangement. Once you begin receiving payments, you may not stop them. The actual amount of income you receive at retirement depends primarily on the amount in your account, your age when payments begin, and the form of payment you choose.

TIAA/CREF Mutual Funds

The only form of payment available under the TIAA/CREF Mutual Funds is a full or partial cash withdrawal of your account balance. Partial cash withdrawals must be at least $1,000.