Moving Account Balances
Transfers can be made out of any investment option to another investment option available under the Plan in any amount at any time except that any Roth contributions may not be transferred to the TIAA Traditional Annuity account or the CREF Annuity accounts.
Transfers may be made out of the following annuities that are closed to new contributions at any time.*
- TIAA Real Estate Account
- CREF Equity Index Account
- CREF Global Equities
- CREF Bond Market
- CREF Growth Account
- CREF Social Choice
*Transfer subject to paperwork. If you would like to complete a transfer from any of the CREF Annuities or the TIAA Traditional, contact TIAA for the applicable paperwork.
Other restrictions or requirements may apply. See the fund administrator’s disclosure materials for any fund you are considering.
You will receive quarterly statements by mail directly from TIAA. Fidelity’s quarterly statements are available online at Fidelity NetBenefits.
In-Plan Roth Conversion
You may elect to convert all or a portion of your Supplemental Retirement and Savings Plan account (other than your Roth Contribution Account) to a Roth Contribution Account as an In-Plan Roth Conversion. This Conversion actually occurs within the Supplemental Retirement and Savings Plan. You do not receive a check and then contribute it to the Supplemental Retirement and Savings Plan. Note that the conversion is a taxable event, but converting to a Roth 403(b) can be beneficial if you expect your tax rate to increase in the future.
You should consult a tax advisor to better understand the consequences of an In-Plan Roth Conversion before you make the decision to convert your Account.
You may take a distribution from your Roth Account funds only if you are eligible, otherwise your funds are subject to the rules of the Supplemental Retirement and Savings Plan. An eligible distribution is (i) a distribution to an active Member on or after attaining age 59 1/2; (ii) a distribution made upon termination of employment, becoming disabled, or retirement; (iii) a distribution upon the Member’s death; or (iv) any distribution that would otherwise qualify as an eligible rollover distribution.