TIAA Retirement Account
Faculty members who are between the ages of 55 and 69½ may begin to draw down the interest on the total accumulations invested in their TIAA contracts through the TIAA Interest Payment Retirement Option (IPRO). Those faculty members who are on active service and are drawing down their TIAA account continue to receive University contributions to these accounts based upon the University retirement plan. Both salary and annuity payments are considered as taxable income. Please note, the Interest Payment Retirement Option (IPRO) is not available through Vanguard. Faculty members who are planning to retire should consult the Office of Human Resources for more detailed information about the procedures and about their own retirement accounts. For more information about their own accounts and for projections of their retirement income, faculty members may visit the TIAA website http://www.tiaa.org/, call the TIAA Telephone Counseling Information Center directly (800-842-2776). If faculty members would like to meet a TIAA consultant on the campus, they can also call the TIAA Princeton Office (800-842-8412) to set up an individual appointment.