Message Font: Serif | Sans-Serif
No. of Recommendations: 1
She probably has a "TIAA Traditional Annuity" investment as one of her options. This is a ROYAL PAIN because you can only transfer out it over a ten-year period! I am currently in year three. Each year, they will transfer a portion of the balance in the traditional annuity into the rollover account.

There is lots of paperwork and your friend will need to keep an eye on the TIAA-CREF service people because they can very easily mess it up. I think my paperwork went back to three different locations in three different states.

She will also need to keep track of the anniversary date and make sure they make the transfer and that they do it correctly!!

Good Luck. In 10 years she will be free of the annuity and can transfer her IRA to another company that's not as complicated.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.