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I was wondering whether TIAA-CREF requires its participants to annuatize their retirement savings when they reach the retirement age. I called TIAA-CREF, but their rep didn't know for sure. Does anyone here knows the answer?

Your distribution options from an RA or GRA vary depending on rules set by your employer. You do not have to annuitize an SRA.


So check with your Business Office for the answer, or try TIAA-CREF again, get a different representative and keep asking your question until they answer it. They should be able to tell you what the rules are for your school. Also check with them about the IRA rollover option, to make sure you could do that. That option (potentially taking your money out of TIAA-CREF) is not one they like to publicize, but make them answer it.

Also, I'm considering moving my 403b money from Fido to TIAA-CREF. I'm 35 and will be only investing in stock funds for a few more years. TIAA however offers only four stock funds - Stock, Growth, Eq Index and International. I don't want to use the latter and I believe their Stock Fund is about 80% Index. That leaves only two funds - Index and Growth.
Is it wise to put 80% of my retirement savings in only two (albeit solid funds)?

I don't see anything inherently wrong with this, if you're happy with those funds (and they do seem to be good ones for the types of funds they are--low expenses and good performance to date). In fact, the standard Foolish advice is to simply put your money in the Index fund (though IMO if the Gardner brothers investment choices were limited to mutual funds I think you would see this "policy" change).

If you had another fund(s) that you were really interested in, it may be possible to transfer your TIAA-CREF money to a 403(b)(7) account in your other fund (provided the other fund offers 403(b)(7) accounts, and provided the money in your TIAA-CREF account does not include any employer contributions).
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