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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76621  
Subject: Re: ROLLOVER TIAA-CREF Date: 2/28/1999 11:58 AM
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TheOthermfa wrote:

<<I rolled my movable TIAA-CREF accounts to a fee-only advisor-managed IRA in 1997. (I had 25% in the TIAA regular annuity as well, which couldn't be moved.) Bottom line was it was a disaster from the standpoint of the Wise management, but having the funds in the IRA gives one much more flexibility when it comes to distributions, which may be taken starting at age 55 without penalty.>>

If indeed you may take penalty-free distributions at age 55, I think you moved those monies to a 403b(7) account instead of an IRA. If not and you do have an IRA, then penalty-free distributions can't start until you reach age 59 1/2 unless you take "substantially equal periodic payments" prior to that age.


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