Assalamu alaykum warahmatullahi wabarakatuh. I work for a university. 7% of my salary goes into a TIAA-CREF retirement account and is matched by my employer. how do I pay zakat on such money? The way I am doing it does not make sense (I pay on the grand total every year; and it is getting to be unaffordable). I can't take the money out until I retire. Please help www.tiaa-cref.org

AAWW

In the Zakah due date, you should calculate your Zakah on this account and on any other pension or retirement account, like 401 K or so based on the following formela:

The withdrawable amount minus any prescribed tax minus any prescribed penalty = the Zakatable amount X 2.5%