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or change the death benefits beneficiaries by giving written
notice to TIAA-CREF’s home office in New York City.
With respect to the procedures for elections and requests,
the TIAA-CREF annuity provides, in part, as follows:
An election or change may be made, in accordance
with the terms of your certificate, by written notice
satisfactory to [TIAA-CREF]. No such notice will take
effect unless it is received by [TIAA-CREF] at its home
office in New York, NY. Any notice of change in
Beneficiary or other person named to receive payments
will take effect as of the date it was signed, whether
or not the signer is living at the time we received it.
Any other notice will take effect as of the date it is
received. * * *
On February 21, 2000, prior to the annuity start date,
decedent executed a Request for a Retirement Annuity Withdrawal
(withdrawal request). The withdrawal request directed TIAA-CREF
to withdraw $600,000 from decedent’s accumulated annuity fund
balance and to deposit these funds into decedent’s designated
savings account. The withdrawal request was signed and dated by
decedent and mailed to TIAA-CREF’s home office in New York City
by priority mail. The withdrawal request was received at TIAA-
CREF’s home office on February 28, 2000, and, as provided by the
TIAA-CREF annuity, made effective as of that date.
On February 21, 2000, petitioner also executed a Designation
of Beneficiary, which was mailed to TIAA-CREF’s home office
by priority mail. The Designation of Beneficiary named
decedent’s three sons as beneficiaries, each entitled to a death
benefit equal to 25 percent of the annuity fund balance, with
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Last modified: May 25, 2011