Common use of Effective Date of Transfers Clause in Contracts

Effective Date of Transfers. An internal transfer from an Investment Account will be effective as of the end of the business day in which we receive an employee’s request for an internal transfer in a form acceptable to TIAA. For TPAs, the first TPA payment will be effective as of the end of the business day in which we receive the request to begin the TPA payment stream in a form acceptable to TIAA. An employee may defer the effective date of the internal transfer from an Investment Account or the date of the first TPA payment until any business day following the date on which we receive the request. TIAA will determine all values as of the end of the effective date. An employee can’t revoke a request for an internal transfer after its effective date. The election to begin TPA payments cannot be revoked after the effective date of the first TPA payment. Any subsequent elections or transactions available under the contract, attributable to the employee’s Traditional Annuity accumulation, will correspondingly reduce the remaining amount of that employee’s Traditional Annuity accumulation to be transferred under the TPA, in accordance with procedures established by TIAA. If any accumulations under this contract are attributable either directly or indirectly to transfers from another TIAA or CREF contract, where such other contracts included any “Equity Wash” provisions or any other such provisions restricting the timing of transfers, then any transfers of such accumulations out of this contract will be constrained by any such applicable provisions.

Effective Date of Transfers. An internal transfer from an Investment Account will be effective as of the end of the business day in which we receive an employee’s request for an internal transfer in a form acceptable to TIAA. For TPAs, the first TPA payment will be effective as of the end of the business day in which we receive the request to begin the TPA payment stream in a form acceptable to TIAA. An employee may defer the effective date of the internal transfer from an Investment Account or the date of the first TPA payment until any business day following the date on which we receive the request. TIAA will determine all values as of the end of the effective date. An employee can’t n't revoke a request for an internal transfer after its effective date. The election to begin TPA payments cannot be revoked after the effective date of the first TPA payment. Any subsequent elections or transactions available under the contract, attributable to the employee’s Traditional Annuity accumulation, will correspondingly reduce the remaining amount of that employee’s Traditional Annuity accumulation to be transferred under the TPA, in accordance with procedures established by TIAA. If any accumulations under this contract are attributable either directly or indirectly to transfers from another TIAA or CREF contract, where such other contracts included any “Equity Wash” provisions or any other such provisions restricting the timing of transfers, then any transfers of such accumulations out of this contract will be constrained by any such applicable provisions.