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Sonny36: You may be right in your advice to Charlotte regarding transferring a 403B. I believe she was exrapolating information I provided to another poster who was not yet retired on the desireability (in my opinion) of TIAA-CREF annuities over other higher cost annuity plans when annuities are all one's employer offers. In Charlotte's case there may be other options available to her which I agree she should research and study before making a final decision.

You can then invest in any stock, mutual fund, bond, etc that your IRA trustee
will allow.
But if Charlotte doesn't want to invest in individual stocks, there is certainly nothing wrong with TIAA-CREF as an option when compared to the vast majority of stock and bond mutual funds. The fees on TIAA-CREF subaccounts are lower than all but the Vanguard index funds (and a handful of index funds which seek to compete directly with Vanguard). TIAA-CREF's "enhanced index" strategy has served many people well over the years and its returns have been very good on both the upside and downside.
You can then invest in any stock, mutual fund, bond, etc that your IRA trustee
will allow
....If you transfer to TIAA CERF you will be limited to there investment options and be controlled by their rules for withdrawal.
Almost anyone you turn your money over to will have some sort of restrictions on what vehicles are available. TIAA-CREF's choices are objectively neither "right" nor "wrong"; it depends on Charlotte's situation. Regarding TIAA-CREF's "rules for withdrawal", if she rolls a 403B annuity into a TIAA-CREF annuity (using a 1035 transfer) I believe the only time she will run up against rules for withdrawal is if she chooses to annuitize. If she doesn't annuitize, I believe she can withdraw the amount she wants when she wants.
When you reach 70.5 you are required by law to take minimum required distributions from all of your
tax-deferred accounts.
Probably true in the context of a 403B but not exactly true in the case of an annuity (a tax-deferred vehicle) which is not a 403B. I believe that with a non-403B annuity you are never required to start taking disributions.

jtmitch
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