Summary
Upon reaching retirement, TIAA participants can choose from a variety of options to begin receiving an income stream from their accumulated pension assets. This article presents updated data and analysis regarding the income choices made by TIAA participants throughout the 1990s, building on the information presented in an earlier issue of Research Dialogue (King, 1996). The data presented here show a striking and uniform movement away from the use of the life annuity as a payout option from 1989-2001 following the introduction of non annuity payout options. While there is perhaps no single explanation for this trend, the changing nature of retirement in higher education may be a key factor.
