TIAA Traditional TPA Exceeds Your Required Minimum Distribution

Greg Shepard - S&A Financial Services, Inc.
#tiaatraditional #tiaaa #tiaa

In this video, Greg addresses a fantastic question from one of our viewers regarding TIAA Traditional and Transfer Payout Annuities (TPA).

The question revolves around a scenario where an individual's Required Minimum Distribution (RMD) is lower than their TPA amount from TIAA Traditional. If, for instance, the RMD is $20,000, but the TPA amounts to $25,000, can the $5,000 difference be rolled over into an Individual Retirement Account (IRA) for tax-deferred growth?

The answer is a resounding YES! Greg explains how you can take advantage of this situation:

Initiate a TPA reinvestment: Reinvest the TPA back into the same TIAA Traditional contract, specifically into a money market option.

Set up automatic RMD distributions: Configure the account to automatically distribute the RMD amount to you as monthly income.

Remaining balance flexibility: The remaining balance in the money market becomes liquid, giving you the flexibility to decide its next move, such as rolling it over into an IRA.

Greg underscores the importance of contacting TIAA directly for specific logistics and guidelines associated with this strategy and emphasizes consulting professionals as this video does not constitute investment advice.

Having excess TPA funds beyond the RMD is common, and understanding the possibilities allows you to strategize and maximize your higher education retirement plan.

For personalized support or further questions, Greg encourages reaching out. At S&A Financial Services, we're dedicated to helping you navigate retirement complexities and achieve financial goals.

Stay informed and proactive to make decisions that enhance your retirement savings. Watch this video now to learn how to leverage opportunities presented by your TIAA Traditional Transfer Payout Annuity!

Disclaimer: This video offers educational information; consult a qualified financial advisor before making financial decisions.

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Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.