Retirement > SERS > ARP > RETIREMENT
20. I have an account at TIAA, what are encumbered funds? What are my options for accessing these funds?
Encumbered funds are funds invested in the TIAA traditional annuity account. TIAA traditional accounts that are under $5,000 are considered small balance accounts and are not considered encumbered. If you have more than $5,000 in the TIAA traditional account, you can access the money at separation of service or transfer it to your existing ARP account via the Transfer Payout Annuity. The funds are distributed in 10 installments over 9 years. If you are in the Group Annuity TIAA Traditional, you can access all of the funds within 120 days of separation of service and pay a 2.5% surrender fee