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 five to nine years to complete depending upon your individual circumstances. Members are encouraged to explore the details of this investment. In the new investment line up there are four funds with withdrawal restrictions.
The SURS U.S. Inflation Protected Bond Fund, SURS U.S. REIT Fund and SURS Non-U.S. Growth Equity Fund all have 30-day trading restrictions. This means if you move money out of these funds, you cannot move money back in until 30 days have passed. If you transfer funds out of the SURS Lifetime Income Strategy (LIS), you cannot transfer funds back into the SURS LIS for 90 days. Additionally, if you have already begun securing income and you change your target retirement age or secure income level, you cannot transfer additional funds into the SURS LIS for 90 days.