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- TIAA CREF offers lifetime annuity payments that allow you to invest or withdraw funds at any time. At retirement, you can choose to generate a set amount of annual lifetime income or take the money in a lump-sum payment. There is no surrender charge, and participants electing lifetime income from TIAA Traditional can receive a historically high payout rate12.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.You can invest or withdraw funds at any time, and both you and your spouse can receive payments in retirement. At retirement, you can choose to generate a set amount of annual lifetime income or take the money in a lump-sum payment. You never pay a surrender charge.www.investopedia.com/terms/t/tiaa-cref.aspNEW YORK, Dec. 19, 2023 /PRNewswire/ -- Participants electing lifetime income from TIAA Traditional, TIAA's flagship annuity, in January 2024 will receive a historically high payout rate of 8.2%.markets.businessinsider.com/news/stocks/tiaa-trad…
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