TIAA-CREF 2015 Lifetime Income Survey Summary of Results

Gen Y is guarded about their retirement outlook (more so than Gen X and other generations in many respects):
1. When it comes to retirement savings, how many years are you planning for your retirement savings to allow you to live comfortably?
2. If you could set one primary goal for your retirement plan, what would it be?
Gen Y is more confident than other generations about retirement prospects and open to products that can generate lifetime income:
3. How concerned are you that you will run out of money in retirement?
4. How willing would you be to commit a portion of your retirement savings to a choice that will allow you to receive a monthly payment for life?
5. How familiar are you with annuities?
6. Have you purchased an annuity or do you plan to in the future?
But Gen Y is still falling short on some key areas:
7. What percentage of your current annual income are you currently saving for retirement, including all savings, such as employer contributions?

Survey Methodology

The survey was conducted by KRC Research by phone among a national random sample of 1,000 adults, age 18 years and older, from Jan. 7 to 13, 2015, using a combination of landline and cell phone interviews. The margin of error for the entire sample is plus or minus 3.1 percentage points.

About TIAA-CREF

TIAA-CREF (www.tiaa.org) is a national financial services organization with $866 billion in assets under management (as of 3.31.15) and is a leading provider of retirement services in the academic, research, medical and cultural fields.
Guarantees are based on the claims-paying ability of the issuer.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each of the foregoing is solely responsible for its own financial condition and contractual obligations.
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa.org for details.
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