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<I have the CREF Stock, Equities Index, and Growth. However, they're are not mutual funds per se but variable annuity
funds.

So it is my understanding that in 15 years (when your mother-in-law retires) she will annuitize with whatever the fund has
accumulated. That is, TIAA-CREF will agree to give her a specific amount of money each month based on her life expectancy,
net worth of her annuity fund, and some other factors.

You can also find more info on their funds at http://www.tiaa-cref.org>

If you go to the tiaa-creff web site and search, you will be able to find a great deal of information on payout at retirement. It is my understanding that any percentage (from 0 to 100) of fund accumulation can be annuitized or withdrawn in more traditional ways.

I am not an expert on this, so read the web site (or call tiaa on the phone) and draw your own conclusions.
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