Distribution Options

The following depict the distribution options available under the Pace University Basic Retirement Plan:

 

Fund Income Options Retirements/Restrictions
TIAA       Annuity       None, may begin at anytime.
     Transfer Payout
     Interest Payment
      Must be 59 1/2; not required to separate from service
CREF      Annuity       None, may begin at anytime.
     Lump Sum
     Periodic Payments
     Partial Withdrawal

      For all options must be 59 1/2; not required to separate     
      from service

NOTE: TIAA Retirement Account has a loan provision.  Total loans from TIAA-CREF cannot exceed $50,000.  Must exhaust loan privileges before hardship distributions under IRS will be reviewed and approved.