When it's time to decide how to take income from your The University of the South Tax Deferred Annuity Plan, you have a variety of options*:

• 90-24 Transfer — You can directly transfer your 403(b) funds from one approved financial provider to another under your employer's retirement plan, or to another 403(b) annuity contract or mutual fund under another plan, as your plan and contract permit. This transfer is not considered a taxable distribution.
  
  
• Disability — As permitted by your plan, you can withdraw elective deferrals and earnings from your retirement plan while employed by your institution but not working due to a disability. To qualify you must be totally and permanently disabled, and the deferrals and earnings must have been credited to your plan on or after January 1, 1989. Disability withdrawals are not subject to the 10% IRS penalty on withdrawals prior to age 59½.
  
  
• Fixed Period — You can choose to receive income for a set period of two to 30 years, depending on the terms of our contract and your plan's rules (and not to exceed your life expectancy). Payments stop at the end of the period, during which you will have received all your principal and earnings. Talk to your benefits office for details.
  
  
• Hardship Distribution — If your plan permits, you can withdraw your elective deferrals (but not earnings) due to financial hardship while still employed. Generally, you must show an immediate, significant need that cannot be met with other resources, including loans from your retirement plan.
  
  
• Lifetime Retirement Income
  • One-life annuity — provides income for as long as you live.
    
    
  • Two-life annuity — provides lifetime income for you and an annuity partner (your spouse or someone else you name) for as long as either of you live.
    
    
  • One- or two-life annuity with guaranteed period — guarantees income for up to 20 years, as long as the period you choose does not exceed your life expectancy. It ensures that income continues to go to your beneficiaries for the remainder of the guaranteed period if you (one-life annuity) or both you and your annuity partner (two-life annuity) die before the end of that period.
  
  
  
• Lump Sum — You can withdraw all or part of your account in a single cash payment, depending on your plan rules and the terms of your contracts. (Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted to taking 10 annual payments under those terms). Talk to your benefits office for details.
  
  
• Minimum Distribution Option — Generally, you must begin taking minimum withdrawals from your account by April 1 following the year in which you turn age 70½ or retire, whichever is later. This can help you defer the minimum required distribution while keeping you in compliance with federal regulations.
  
  
• Single-Sum Death Benefit — A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income.
  
  
• Systematic Withdrawals — If your plan allows, you can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. You can increase, decrease or suspend the payments at any time. (Note: These withdrawals are not available from TIAA Traditional Account balances.)

* The availability of certain distributions may depend on the type of contract underlying your plan. Also, if you're married, your right to choose an option may be subject to your spouse's right to survivor benefits. Talk to your benefits office for details.

Your The University of the South Tax Deferred Annuity Plan is designed to provide you with income throughout your retirement. Leaving money in your account may allow the funds to grow on a tax-deferred basis.

The The University of the South Tax Deferred Annuity Plan allows you to receive a cash withdrawal. This may be restricted by the terms of your TIAA-CREF contracts. Taxes and penalties may apply.

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