What happens to my TIAA-CREF account if I change jobs?

When an individual changes jobs, several options may be available regarding their TIAA-CREF account. The specific course of action often depends on the terms of the retirement plan associated with the current job and the new employer's policies. One common option is to leave the money in the TIAA-CREF account, allowing it to continue growing tax-deferred. Alternatively, the individual may choose to roll over the account balance into a new employer's retirement plan, if that plan accepts rollovers. They might also consider rolling over the account into an Individual Retirement Account, or IRA, which could provide broader investment options. Finally, cashing out the account is another option, though it may incur taxes and penalties, depending on the individual's age and circumstances. It is advisable for individuals to review their options carefully and consider potential tax implications. For more detailed assistance tailored to individual situations, it may be helpful to refer to the official TIAA-CREF website for current information.