Optional Retirement - Payment Options

Benefit payments from TIAA contracts and accounts

All annuity options are explained under How Benefits Are Paid in the Benefits Handbook or Postdoctoral Employees Benefits Handbook.



Beneficiary and Spousal Rights

You may not choose the single life annuity option or designate an annuity partner who is not your spouse, unless your spouse consents in writing during the 180 days preceding the date benefits begin.


If you are married and die before annuity benefit payments begin, your spouse is automatically designated as your beneficiary and must receive a benefit that is at least 50 percent of your retirement plan accumulations.


No other beneficiary may receive more than 50 percent of your accumulations, unless your spouse waives this benefit in writing, as required on the form provided by TIAA.



GSRA fixed-period option

In addition to the payment options shown in the Benefits Handbook the fixed-period option allows you to receive income from your GSRA contract over a fixed number of years from five to 30. If you die during that period, payments will continue to your beneficiary.


Note: The TIAA Interest Only Option is not available for GSRA contracts.



Minimum distribution requirements

The minimum distribution requirements for retirement funds from TIAA are the same for the Basic and Optional Retirement Plans.


Refer to Minimum Distribution Requirements in the Benefits Handbook.



Optional Retirement



Contact your campus benefits office for more information.

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