raywax:

But as there is no Prospectus for the Traditional that may be why Sy is confused.

This has been frustrating me for weeks.  I spoke to a TIAA-CREF representative and asked if TIAA-CREF could send me a prospectus for the Traditional with all the rules spelled out in black and white, since I got the impression that holding the Traditional in a GRA has rather onerous liquidity restrictions, so I was nervous, esp as I'm a novice investor who typically considers annuities to NOT be like money market funds.  But, I never got the prospectus, and I've been unable to find anything in writing that clearly states the lack of liquidity restrictions when the Traditional is held in an IRA.

The rules for the Traditional Account in a GRA are NOT onerous when compared to that in an RA. (I would not call either set of rules onerous but that was the post). The advantage of a GRA over an RA is that one CAN withdraw one's Traditional Account investments out but I believe it can only be done within 90 days of retirement. If this is of interest, do phone the counseling center and ask about it. There is a charge for this but it completely by-passes the TPA rule in place in a RA Account.

Ray 

Check your T-C contract; the rules for the Traditional Account may well be in there.

Ray 

 TIAA Traditional GRA Rules

Annuity Income Options: Fixed period annuities are available from TIAA Traditional, for periods of 5 to 30 years only after termination of employment and subject to employer’s plan.

TIAA Traditional transfers: In 10 annual payments (the total amount to be transferred must be a minimum of $10,000 or the entire balance of your TIAA accumulation) through a Transfer Payout Annuity (TPA).  Or within 120 days after separation  from service with a 2.5% surrender charge for accumulations greater than $2,000.

Ray,

Thanks for the new info about no longer limiting TIAA traditional to 3 moves per month. That's a relief, because I'm very gradually building up a diversified portfolio.

There's still the restriction on moving out of TREA more than once per quarter, though. (Tell me they've changed that as well, please.)

Sy

No, the restriction in the REA to one move from it remains at one per quarter.

Ray 

In case anyone is wondering why there is not prospectus for TIAA traditional, see Section 3(a)(8) of the Securities Act of 1933:

a. Exempted securities

Except as hereinafter expressly provided, the provisions of this title shall not apply to any of the following classes of securities:...

8. Any insurance or endowment policy or annuity contract or optional annuity contract, issued by a corporation subject to the supervision of the insurance commissioner, bank commissioner, or any agency or officer performing like functions, of any State or Territory of the United States or the District of Columbia.

In any case THERE ARE NO RESTRICTIONS ON NUMBER OF MOVES FROM THE TRADITIONAL ACCOUNT WITHIN AN IRA!

Ray,

I don't remember if it has been discussed, but if you happen to move any amount back into the Traditional account, and then move any amount out of the Traditional again within a 60 day period; SLAM! the door is locked. You're blocked! You are reclassified as a dirty old timer! (Even if you're a young girl pianist).

Sy 

Yes but that was not the topic being discussed. Note it is AFTER the second move in the 60 day window that is critical. For the moment, this is not a problem for me as I am building both ILB and mutual fund holdings. What is not clear is whether this rule applies to  more than one Account. If it does it makes life very difficult for those of us like myself who have several active accounts.

Ray 

" What is not clear is whether this rule applies to  more than one Account."

Ray,

I spoke to a couple of WMAs yesterday and received a couple of different interpretations. Each WMA was adamant that his/her interpretation was the correct one. (Even though one had to put me on hold while she consulted an "authority on the subject".) Incidentally, the authoritative interpretation was different than yours, although the second person agreed with your definition.

Sy