Moving Money to Your TIAA-CREF Accounts

Do I need to contact my current investment company to roll over funds to TIAA-CREF or do I simply complete the TIAA-CREF forms?If you have not already done so, you’ll need to contact the investment company from which you are rolling over funds. The company can determine whether or not you are eligible to roll over the funds and provide the forms you’ll need to process the transaction.

Fill out the forms from the investment company from which you are rolling over funds and complete the TIAA-CREF Transfer, Rollover, or Exchange Authorization form. Then submit all the forms to TIAA-CREF — we will contact your investment company to complete the transfer.

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What is EFT / AIP?An EFT (Electronic Funds Transfer) is used to move funds from one financial institution to another. For example, you can directly deposit funds into your TIAA-CREF contract from your bank account and vice versa. EFT uses the Automated Clearing House (ACH) system, not the Federal Wire system, so it can take 24-48 hours to reach the bank. AIP is the Automatic Investment Plan, where you systematically transfer money to a particular fund (investment) from your bank account.

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When can I not use EFT?You cannot use EFT to make contributions to an employer-sponsored retirement plan. Employer-sponsored plans can only be funded via payroll deferral or rollover from another retirement account. IRAs can be funded by the use of EFT and the minimum EFT to an IRA on an automatic basis is $100 per transfer.

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Why do I need to fill out the spousal waiver section?The Employee Retirement Income Security Act (ERISA) requires spousal consent for certain transactions. If you are rolling over money into an ERISA plan, TIAA-CREF requires acknowledgement that you are aware of the ERISA provisions of the plan and any money rollover into the plan will be subject to the ERISA laws. If you originally submitted a Transfer, Rollover, or Exchange Authorization form, you already agreed to the ERISA terms. However, if the funds were received without the Transfer, Rollover, or Exchange Authorization form, a Rollover/Transfer Acknowledgement form is required for TIAA-CREF to accept the funds in an ERISA plan.

If your spouse would like to waive his/her beneficial rights to the account, your spouse must complete a spousal waiver form.

Your spouse must sign the waiver in front of a Notary or, if still employed with the sponsoring institution, the designated Plan Representative. Additionally, your spouse’s signature cannot be dated before your signature.

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What bank information do I need for EFT?When setting up an EFT, you’ll need the following information:

  • Bank routing number (or ABA number) — always 9 digits long ( ı: 123456789 ı: )
  • Account number (checking or savings) — do not include the check number
  • Bank address and telephone number

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© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017