>>TIAA-CREF
As it happens I've just researched this, but naturally
for my own particular case. I haven't made contributions
since the 80s. Since then there have been lots of new
possibilities and options.
In my case and I'm reasonably sure this applies to almost
anything contributed before about 1990, from regular
contracts you can't take out anything early, period
(with certain exceptions, such as leaving an employer
with a small-sized account). I believe some more
recent contracts may allow certain hardship withdrawals
(medical, say), provided the employers plan allows it.
That's for regular contracts. If you bought supplemental
cashable contracts, you can cash them in for tax due
plus a 10% penalty. If you did that, though, you would
know it. BTW, when I bought them there was no penalty.
Later congress put on the 10% penalty retroactively.
Only the government can change a contract after it's
been entered. Talk about full faith and credit ... sorry,
never mind.
Anyhow, with these minor exceptions, no withdrawals.
Till retirement.
However, you CAN roll the plan into an IRA, and you
will then be subject to the IRA rules. The details
depend on the plan. In my case I contributed under
two institution plans. In one, I can roll to an IRA
any time. In the second there are limits till age
55. I believe you can roll at age 59 1/2 regardless
of the plan. Oh, yeah, I think you CAN'T be making
current TIAA/CREF contributions, though that may
vary by institution plan too. Also, you can do
a partial rollover.
TIAA-CREF can look the info up for you, and they
are really very helpful. Call the toll-free number. I warn
you they will have difficulty understanding that you
might ACTUALLY think of taking your money away from them,
though <g>. And, of course, there may be other limitations,
considerations, and options depending on the plan
and when you contributed.
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