* The plan requires that you end your student status with the institution before you have access to the
accounts. Therefore, termination is equivalent to graduation or no longer being enrolled as a student.
Withdrawals prior to age 59½ are subject to ordinary income taxes and are generally subject to a 10%
early withdrawal penalty.
** Morningstar Direct (September 2010) based on Morningstar expense comparisons by category. Applies to
our variable annuity accounts and mutual fund expense ratios.
You should consider the investment objectives, risks, charges and expenses
carefully before investing. Please call 877 518-9161 or go to tiaa-cref.org for a
prospectus that contains this and other information. Please read the prospectus
carefully before investing.
TIAA-CREF products may be subject to market and other risk factors. See the
applicable product literature, or visit tiaa-cref.org for details.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members
FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and
Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Group Supplemental
Retirement Annuity (GSRA) contract form series G1250.1.
©2010 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), New York,
NY 10017.
C48253 AP20521/26725 (12/10)
HOW DO I ENROLL IN THE PLAN?
Enrollment is automatic. Once your institution determines that you are eligible to
participate in the plan, they will automatically forward your contributions to a
TIAA-CREF Group Retirement Annuity Contract (GSRA).
The investment election for the account will automatically be set to the default
account chosen by your employer and your estate will be named as the beneficiary.
After the account is established, please go online or call TIAA-CREF to review your
account and make changes to the investment allocations and your beneficiary
designation, as necessary.
WHAT COSTS ARE ASSOCIATED WITH THE ACCOUNT?
TIAA-CREF’s expenses are generally less than half the industry average, as
measured by Morningstar Direct.** Also, there are no additional sales charges
deducted from the contributions or annual account maintenance fees. This means
more of your savings is working for you rather than going to expenses.
WHAT ARE MY OPTIONS WHEN I AM NO LONGER A STUDENT EMPLOYEE?
Upon Termination of association (generally, after graduation or withdrawal of pursuit
of a degree), you'll have three options:
�
Maintain your retirement account with TIAA-CREF
�
Roll over the account to an IRA with TIAA-CREF or another firm, or an employer
sponsored retirement plan (if your new employer accepts rollovers)
�
Withdraw the balance from your account.
Please note that only options one and two will preserve the tax-deferred status of
your contributions and any earnings. If you select option three and withdraw the
funds, the distribution will likely be taxable as ordinary income in the year it is
withdrawn and may also be subject to an additional 10% early withdrawal penalty.