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Please take a moment to consider all your options before taking a cash withdrawal from yourTIAA Traditional Annuity. What you do today with that money can significantly impact tomorrow’s income.The Transfer Payout Annuity withdrawals are eligible to be rolled over into other eligible retirement plans,so please consider this option. For assistance with this important decision, call us at 800-842-2252.Things to consider if requesting an early withdrawalEarly withdrawal penaltiesYou may be subject to an early withdrawal penalty if you were under age 55 when employment ended, or areunder age 59½ at the time of this withdrawal, in addition to ordinary income tax.Tax withholdingDistributions that can be rolled over into eligible retirement plans but are not rolled over are subject to 20%federal tax withholding.Taxation at time of withdrawalIf you begin taking withdrawals from your TIAA Traditional Annuity later in life, you may be in a lower taxbracket and enjoy a lesser tax burden on the distributed funds.Alternatives to Retirement Annuity distributionsAfter-tax savingsAny non-retirement assets available may be a better option in the long run.WaitingConsider holding off on that big purchase until you can save enough outside of your Retirement Annuity.LoansDo you have access to home equity, consumer or retirement plan loans that may serve you better in theshort run?As with any important financial decision, it’s important to seek out your TIAA consultant and aknowledgeable tax professional to help you understand the best options for your circumstances.TIAA or its affiliates do not provide tax advice. Please consult your tax advisor. Taxpayers should seek advice based on their ownparticular circumstances from an independent tax advisor.Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, and not insured byany federal government agency, are not a condition to any banking service or activity, and may lose value.TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC,Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insuranceand Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solelyresponsible for its own financial condition and contractual obligations. 2016 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF),730 Third Avenue, New York, NY 10017730 Third Avenue, New York, NY 10017 tiaa.orgC28930141013225494420 630605A15374 (02/16)
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSNEED HELP? 800-842-2252WHAT IS A TRANSFER PAYOUT ANNUITY?Weekdays8 a.m. – 10 p.m. (ET)The Transfer Payout Annuity (TPA) is an option for transferring some or all of your TIAA Traditional accountbalances as a rollover or as a cash withdrawal, in 10 payments over 9 years.Saturday9 a.m. – 6 p.m. (ET)Or visit TIAA.org.Have your ID and passwordready.Since the TIAA portfolio is made up of long-term investments, transfers can only be made in 10 paymentsover 9 years.HOW DOES IT WORK?You complete the enclosed forms choosing an amount of 10,000 or more (100% if your account balance isless than 10,000 but greater than 2,000) from your TIAA Traditional account, which is then placed into anew Transfer Payout Annuity contract. Each year this new contract will automatically transfer 10% of the value,plus any earnings, to the rollover or cash withdrawal option that you choose.KEY INFORMATION TO CONSIDERIf you want to withdraw funds from your CREF accounts, please call us. There are different rules for thesewithdrawals, so you must complete separate forms. We will continue to use the beneficiary designation we have on file for the original contract. Once yourTransfer Payout Annuity contract is issued, you may go online at TIAA.org to update your beneficiarydesignations. We’ll send the withdrawal or rollover amount within four to seven business days after we receive yourcompleted forms or from the start date you requested. To avoid delays, be sure to complete all sections. You may be subject to a 10% federal tax penalty for early withdrawal if you were under age 55 when youremployment ended, or if you’re under age 59½ when you take this withdrawal. A withdrawal is taxable if it is not rolled over to another tax-deferred account. For withdrawals (not rollovers)we are required to withhold 20% for federal taxes. To withhold more than 20% federal taxes, you candownload Tax Form W4-P from our website. If you are not rolling over the withdrawal, we may be required to withhold state tax if you reside in: AR, CA,DC, DE, GA, IA, KS, MD, ME, MA, MI, NE, NC, OK, OR, VT or VA. If your state tax form isn’t included with yourforms, go to TIAA.org/forms, and scroll to Find tax forms. TA TO/OPYPAYTPAF10794 (9/16)
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 1 of 9Please print using black ordark blue ink.IMPORTANT: A full SocialSecurity Number/TaxpayerIdentification Number isrequired to process yourrequest.If you claim residence ANDcitizenship outside the U.S.,you must complete FormW-8BEN in addition to thisform to certify your foreigntax status. To print theW-8BEN form, go toTIAA.org/forms, and scroll toFind tax forms.* T he Plan and Sub PlanNumbers should havebeen provided when yourequested the form. Ifyou don’t have them,please reference yourquarterly statement.1. PROVIDE YOUR INFORMATIONFirst NameMiddle InitialLast NameSuffixSocial Security Number/Taxpayer Identification NumberContact Telephone NumberState of Legal ResidenceExtensionCitizenship (if not U.S.)(if outside the U.S., write in Country of Residence)2. PROVIDE YOUR CONTRACT NUMBERSTIAA NumberPlan Number*Sub Plan Number*Plan Name3. WHEN WILL YOUR ANNUAL TRANSFERS BEGINWe’ll make the first transfer when we issue your Transfer Payout Annuity contract. And for future transfers, we’lltransfer funds annually on the first business day of that month, with funds received within 2 (two) businessdays. If you wish to change your annual transfer date to a later date, please tell us below.Date (mm/yyyy)I want annual transfers to begin on the first day of:/2 0** The minimum transfer is 10,000, or 100% if theaccount balance is lessthan 10,000.4. CHOOSE THE AMOUNT TO TRANSFER FROM TIAA TRADITIONAL (CHOOSE ONE)Remember, accountbalances changedaily based on marketperformance. Log in to youraccount at TIAA.org or callus for automated up-todate account information.B. I want to transfer only a part of my TIAA Traditional available account balance as indicated.If you are not withdrawing/rolling over your entire available account balance, indicate the dollaramount or percentage. Percentages and amounts must be in whole numbers.TA TO/OPYPAYTPAF10794 (9/16)A. I want to transfer my entire TIAA Traditional amount.Dollar Amount** ORPercent ofAccount Balance%
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 2 of 95. TELL US WHERE TO SEND YOUR ANNUAL WITHDRAWALS (CHOOSE ONE)A. Direct Deposit to my bank account. (Also complete Section 5A)ORB. Roll over to another TIAA account.* (Also complete Section 5B)ORC. Roll over to another investment company.* (Also complete Section 5C)ORD. Mail a check to my current address on file.Note: To ensure your account is secure, we can’t send a check to a mailing address that haschanged in the last 14 days. So, if you’re requesting that we send the payment to your mailingaddress and you’ve recently changed it, we may not be able to process your current request. Callus at 800-842-2252 so we can discuss some of your options for completing your request.*If you selected option B or C above, then please tell us how to apply your after-tax monies:Include in my rolloverDo not include in my rollover. TIAA will send you a check.TA TO/OPYPAYTPAF10794 (9/16)
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 3 of 95A. PROVIDE PAYMENT INSTRUCTIONSNOTE: If TIAA is unable to validate your bank account information for any reason, or you do not make aselection below, we will automatically mail a check to your current address on file.Please indicate where you would like us to send the money:When you select directdeposit, you will usuallyreceive funds within two (2)business days once we haveall the required approvalsand documentation. Direct Deposit to my bank account already on file:You may fax copies of formsand documents if yourequest that we send thepayment via direct depositusing banking informationwe already have on file.Otherwise, you must mail orupload original documents(not faxed copies) with thisform. Direct Deposit to my new Checking or Savings Account:Bank Name:Account Number ending in: Checking AccountOR Savings AccountProvide documentation described in item A, B or C below.A. Mail or upload a photo of an original voided check with this form. Starter checks, deposit slips andthird-party checks are not acceptable.ORB. Mail an original letter from your bank with the following information:On bank letterhead, which includes address of bank Name on your account Address on your account Bank/ABA routing number Account number Account type (Personal checking account or personal savings account) Signature of the financial institution’s representative. This signature must either be notarized by thefinancial institution’s notary; or, it must be a signature guarantee including the stamp or seal fromthe financial institution’s authorized representative. If any of the bullet points above are missing, we will send your payment to the current address on file.ORC. Mail or upload a Bank Generated Deposit Set Up Form from your bank that includes the followinginformation:Name on your account Address on your account Bank/ABA routing number Account number Account type (Personal checking account or personal savings account) TA TO/OPYPAYTPAF10794 (9/16)
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 4 of 9* If you’re rolling over yourfunds to a TIAA account,please provide youraccount number at theright. We’ll invest yourfunds using the allocationinstructions on file.If you need to open a newTIAA IRA, please call us.5B. ROLL OVER MY WITHDRAWAL TO ANOTHER TIAA ACCOUNTWhat type of account are you rolling over to? (Choose only one and provide account number.) My TIAA account*TIAA NumberCREF NumberPlan Name (Contributing Employer’s Plan)Plan NumberSub Plan NumberBrokerageMutual FundsAfter-Tax AnnuityTrust ServicesIRAPlease select one of the following for the allocation of funds:L ike to Like – Roll over to the same investment(s) as your entitlement funds. If they are not availablein the receiving account, the funds will be applied to the money market fund.Allocation on File – The current allocation in the contract to which the rollover is being applied.NOTE: If you do not choose an election, we will default to the Allocation on File.New TIAA IRA (My IRA enrollment form is attached.)Roth IRAPlease select one of the following for the allocation of funds:L ike to Like – Roll over to the same investment(s) as your entitlement funds. If they are not availablein the receiving account, the funds will be applied to the money market fund.Allocation on File – The current allocation in the contract to which the rollover is being applied.NOTE: If you do not choose an election, we will default to the Allocation on File.Do you want federal taxes withheld from the pretax amount you’re converting to a Roth IRA? If you don’tcheck a box we’ll withhold 20% for federal taxes.No, do not withhold federal taxes.Yes, withholdTA TO/OPYPAYTPAF10794 (9/16)%
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 5 of 95C. ROLL OVER MY WITHDRAWAL TO ANOTHER INVESTMENT COMPANYWhat type of account are you rolling over to? (Choose only one)Traditional IRA (complete the Investment Company Information)Roth IRA (complete the Investment Company Information)Do you want federal taxes withheld from the pretax amount you’re converting to a Roth IRA? If you don’tcheck a box we’ll withhold 20% for federal taxes.No, do not withhold federal taxes.Yes, withhold% Other Plan (complete the Investment Company Information and the Acceptance By Investment Company)The investment companyreceiving your rollover mustcomplete the InvestmentCompany Information. Ifthe rollover is not goingto an IRA account, thenthe investment companymust also complete theAcceptance By InvestmentCompany.INVESTMENT COMPANY NAMEInvestment Company NameAddressCityStateContact Telephone NumberA representative of theinvestment companyreceiving the direct rollovermust complete and signthis section.ExtensionZip CodeAccount NumberACCEPTANCE BY INVESTMENT COMPANYWe certify that the Internal Revenue Code of the plan receiving the direct rollover is (choose one)401(a)403(a)457(b) Public401(k)403(b)Other (provide IRC Code)If you have after-taxcontributions and theplan receiving your directrollover can’t accept them,we’ll send you a checkfor that amount to yourmailing address on file.We agree to accept the direct rollover (select only one)Please sign using black ordark blue ink.Investment Company Representative’s Signatureand will account for both pretax and after-tax amounts.of only the pretax amounts./TitleTA TO/OPYPAYTPAF10794 (9/16)Today’s Date (mm/dd/yyyy)/Telephone Number2 0
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 6 of 9If you answer Yes and providea separation date, you arecertifying that you have or willhave separated from serviceby that date.If you answer No or don’tenter a separation date,you are certifying that youunderstand the repercussionsof authorizing this withdrawalwhile still employed.The employer that contributedto your plan must completethis section.This section must becompleted in order to make awithdrawal.Please sign using black ordark blue ink.6. EMPLOYMENT STATUSBefore you start your withdrawals, will you have separated from all employers that contributed to the plansfrom which you’re withdrawing funds?Separation Date (mm/dd/yyyy)Yes, I certify that I have or will have separated from service on:/ No, I will not have separated from service.Please contact your employer’s benefit office to discuss any consequences if you’re authorizingwithdrawals from the account balance from your current employer’s plan.7. EMPLOYER’S PLAN REPRESENTATIVESeparation Date (mm/dd/yyyy)//EMPLOYER PLAN REPRESENTATIVE CERTIFICATIONEmployer Plan Representative’s SignatureToday’s Date (mm/dd/yyyy)/Employer Plan Representative’s Name (please print)TA TO/OPYPAYTPAF10794 (9/16)/Title/2 0
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 7 of 9If you’re married, you mustsign and date this sectionbefore your spouse signsSection 10.8. YOUR AUTHORIZATION AND SIGNATUREBy signing below:You authorize TIAA to make withdrawals from your TIAA Traditional account balances, as stated in thisform. The date we issue your Transfer Payout Annuity contract cannot be before we receive all necessary papers. Once we issue your Transfer Payout Annuity contract, it cannot be revoked and the amount cannot be changed. If you transfer the full value of your TIAA contract to your Transfer Payout Annuity, that TIAA contract will beof no value. You authorize the continuation of the beneficiaries under the original contract listed in Section 2. Once thecontract is issued, you reserve the right to change this designation at any time. If you requested that your withdrawal be directly deposited, you authorize that the bank charge youraccount and refund any overpayments to TIAA. You release your bank from any liability to TIAA foroverpayment above the amount of the funds available at the time TIAA requests a refund. If you make a direct rollover into another employer’s plan, you understand your right to receive adistribution of these funds will be determined by the plan that is accepting the rollover and the funds inwhich your direct rollover is invested. You further understand that if you make a direct rollover to anotheremployer’s plan that is subject to the Employee Retirement Income Security Act of 1974 (ERISA), spousalrights will apply to these funds and you may need a signed waiver from your spouse in order to receive asubsequent distribution of these funds. Under penalties of perjury, I certify that: (1) The number shown on this form is my correct taxpayeridentification number (or I am waiting for a number to be issued to me); and (2) I am not subject tobackup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notifiedby the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failureto report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backupwithholding; and (3) I am a U.S. citizen or other U.S. person; and (4) The FATCA code(s) entered on thisform (if any) indicating that I am exempt from FATCA reporting is correct.Note: There are no FATCA code entries on this form, so please disregard item 4.The Internal Revenue Service does not require your consent to any provision of this document other thanthe certifications required to avoid backup withholding.Please sign your full legalname with suffix, ifapplicable, using blackor dark blue ink. TA TO/OPYPAYTPAF10794 (9/16)Your SignatureToday’s Date (mm/dd/yyyy)//2 0
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 8 of 9Unmarried Verification: Ifyou are unmarried, ONLYcomplete Section 9.9. UNMARRIED VERIFICATIONPlease sign using black ordark blue ink.Your SignatureI certify that I am not married AND no longer work for the employer that contributed to this plan.Today’s Date (mm/dd/yyyy)//2 0ORI certify that I am not married AND I am currently working for the employer that contributed to this plan.Please sign below in the presence of the Plan Representative.Your SignatureToday’s Date (mm/dd/yyyy)//2 0PLAN REPRESENTATIVE CERTIFICATIONBy signing, you certify that the participant is not married.Plan Representative’s SignatureToday’s Date (mm/dd/yyyy)/Plan Representative’s Name (Please print)TA TO/OPYPAYTPAF10794 (9/16)Title/2 0
CASH WITHDRAWAL OR ROLLOVERTRANSFER PAYOUT ANNUITYFOR PRIVATE EMPLOYER PLANSPage 9 of 9To the participant: If you aremarried, ONLY your spousewill need to completeSection 10.Remember, spouse mustsign and date this waiver onor after the participant hassigned this form.10. SPOUSE’S WAIVER OF SURVIVOR BENEFITSAs the spouse of a participant in an employer-sponsored retirement plan, you have the right to receive a survivorbenefit of at least 50% of the participant’s (the account owner’s) accumulation if he or she dies before you(referred to as a qualified joint and survivor annuity (“QJSA”)). The amount may be more, depending on the planprovisions. With this form, your spouse is requesting a distribution in a form other than the QJSA. Because thismeans that the money used for the distribution will no longer be available to provide a QJSA survivor benefit toyou, we must get your consent before completing the transaction. Please read and sign the statement below onlyif you agree to the distribution in a form other than the QJSA. You do not have to sign this form. If you do not, youwill receive the QJSA survivor benefit described in the Explanation of the Qualified Joint and Survivor Annuity.Important: You must have your signature witnessed by a Notary Public OR the contributing employer’s PlanRepresentative. And you must sign and date this waiver on or after your spouse has signed the distribution form.Please sign using black ordark blue ink.By signing I confirm that I have read and understand the Explanation of the Qualified Join
The Transfer Payout Annuity (TPA) is an option for transferring some or all of your TIAA Traditional account balances as a rollover or as a cash withdrawal, in 10 payments over 9 years. Since the TIAA portfolio is made up of long-term investments, transfers can only be made in 10 paymentsFile Size: 858KB
