UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75786  
Subject: Re: ROLLOVER TIAA-CREF Date: 2/28/1999 11:58 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0

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.

Regards…Pixy

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
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.
Post of the Day:
Value Hounds

Clorox Isn't Cleaning Up
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement