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URL:  http://boards.fool.com/i-have-a-variable-annuity-through-tiaa-cref-11077882.aspx

Subject:  Re: Annunities Date:  7/22/1999  11:17 PM
Author:  WoodsFool Number:  12490 of 75777

..I have a variable annuity through TIAA-CREF. That, for educators, is the only option, or used to be when I was an educator...

JABoa ..
I read you posts with great interest since you seem to be the TMF guru on TIAA/CREF. In a previous life I worked for educational institutions and have a substantial amount of my retiremnt dollars with TIAA/CREF. I have worked for Uncle Sam for the last 17 years. You have consistently said that the payouts from TIAA/CREF have to be taken as an annuity. That didn't seem quite right to me so I finally called them tonight. For me at least, this is not true. The representative told me that with my contract and most all the other contracts they have, there are many options available. I can take the CREF money as a lump sum (a dumb idea!), role it over to any IRA I want to use, leave it with TIAA/CREF and take money on an "as need" basis, work with their trust department to set up an account and essentially invest it on my own, move it into their mutual funds, or of course establish an annuity with the payout options you describe. The TIAA account can be converted to a 10 year payout account and the payouts handled as above. I am sure you have investigated all this for your account, but I just wanted to let you and the board know that there are many options with TIAA/CREF.

Cheers

J Hewetson (aka WoodsFool)

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