SMP FAQ - Are their withdrawal restrictions on any funds in the SMP plan?

June 28, 2016 - 10:02
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Question: 

Are their withdrawal restrictions on any funds in the SMP plan?

Category: 
Contributions/Funds Information
Answer: 

The TIAA Traditional Annuity Account is a very complex contract with a great deal of restrictions with regards to withdrawals or transfers. Depending upon the variables involved, withdrawals or transfers may result in a 2.5% surrender charge or may take 5-9 years to complete depending upon your individual circumstances. Members are encouraged to explore the details of this investment.

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