Transfer Payout Annuity (TPA)

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The specific method TIAA uses to let you move money out of certain annuities, like TIAA Traditional. Rather than moving all at once, the money comes out in installments, typically ten payments spread over roughly nine years. There’s no penalty for using it, but it is slow by design, which is why it’s wise to start the process early if you plan to move an annuity.

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