SEPARATE ACCOUNT CHARGE. A separate account charge is assessed for mortality and expense risk and administration. The separate account charge is guaranteed not to exceed an effective annual rate of 1.2% of an investment account's average net assets. We may choose to waive a portion of the separate account charge.
Appears in 3 contracts
Sources: Single Premium One Life Immediate Annuity (Tiaa Cref Life Separate Account Va-1), Single Premium One Life Immediate Annuity (Tiaa Cref Life Separate Accunt Va-1), Single Premium Fixed Period Immediate Annuity (Tiaa Cref Life Separate Accunt Va-1)