Multi-year guaranteed annuity (myga)
Guaranteed returns, flexible choices, lifetime income
TIAA MyChoice MYGA is a fixed rate multi-year guaranteed annuity that offers growth, flexible access, and the option to convert to lifetime income—all backed by one of the most trusted names in retirement.
4.00%
3-year guarantee period
4.20%
5-year guarantee period
4.30%
7-year guarantee period
Ladder
Choose one or more rate terms
Rates are effective as of April 1, 2026 and are subject to change. Your rate will be determined on the date your funds are received.1
Myga overview
Designed for simplicity
Lock in fixed growth
Grow your money at a steady rate with locked-in, guaranteed interest rates for 3, 5, or 7-year terms.
Defer paying taxes
Tax-deferred growth means you won't pay taxes until withdrawal, allowing your savings to compound faster.2
Balance your risk
Diversify your portfolio by safeguarding a portion of your savings with multi-year guaranteed annuity.
Protect against volatility
Earn a guaranteed fixed rate that's not tied to stock market performance, protecting you from market fluctuations.
How it works
Build your MyChoice MYGA
TIAA MyChoice MYGA gives you the ability to build the annuity to meet your specific goals and preferences.
Choose your account type
Choose between a traditional IRA or Roth IRA. You may also be able to roll funds over from another retirement account or contribute new IRA dollars, up to IRS limits, if you qualify.
Choose your amount and term
With a minimum of $5,000 per guarantee period, you can choose among a 3, 5 or 7 year guarantee period. You can even choose to split your premium up among all three.
Watch your money grow
Your money earns predictable returns on both contributions and interest. Unlike taxable accounts, earnings compound tax-deferred, maximizing wealth accumulation.
Decide on your income options
When your guarantee period comes to an end, you can decide to select a new period and continue earning a guaranteed fixed rate, withdraw your funds without surrender charges or convert your balance to retirement checks that last for life.
Next steps
Take the next step
TIAA MyChoice MYGA is a multi-year guaranteed annuity that lets you select a term, lock in a guaranteed rate, and enjoy steady, predictable growth—ideal for building retirement security.
Get product details
Download our brochure for detailed product specifications, fee structures, withdrawal options, and important disclosures to make an informed investment decision.
Connect with a TIAA financial advisor
Speak with a TIAA financial advisor to see if TIAA MyChoice MYGA is right for your portfolio by scheduling a meeting.
Open a TIAA MyChoice MYGA online
Choose to open a new Traditional IRA or Roth IRA and contribute regularly to reach your goals.
Why tiaa
Setting the industry standard
For stability, claims-paying ability and overall financial strength, TIAA is one of only three insurance groups in the United States to currently hold the highest possible rating from all four leading insurance company rating agencies.3
Aa1 | Moody’s
AAA | Fitch
AA+ | S&P
A++ | A.M. Best
Keep learning
Get the answers you need
See how MyChoice MYGA compares to our TIAA Traditional annuity
While they are both considered fixed annuities, each one has specific features and differs in the way interest rates are credited.
Discover the TIAA IRA annuity advantage
A fixed annuity can add security and predictable income payments for retirement planning.
Learn how a MyChoice MYGA and a CD are different
MYGAs compare to CDs in structure, yet annuities provide distinct features you may need for your income planning.
What people ask us
How is a MYGA different from other annuities?
A MYGA (Multi-Year Guaranteed Annuity) guarantees a specific interest rate for a set period of years (typically 3-7 years), while a regular fixed deferred annuity may have interest rates that can change annually at the insurance company's discretion. This makes MYGAs similar to CDs in that you know exactly what rate you'll earn for the entire guarantee period, providing more predictable growth for your retirement savings.
What is annuitization4?
Annuitization is when you convert your annuity's accumulated value into a guaranteed stream of regular payments for a specific period or for the rest of your life. Think of it like turning your lump sum of savings into a personal pension that provides steady monthly income you can't outlive.
Can I take money out before the end of the guarantee period?
You can make a withdrawal from your annuity only if you need to satisfy the amount of a Required Minimum Distribution on your MYGA IRA. Otherwise, premature withdrawals will be subject to a surrender charge. The charges depending on the initial guarantee period you selected and how long you have held your contract.
For the 3-year Interest Rate Guarantee Period: The surrender charges are 8% in year one, 7% in year two, and 6% in year three, with no surrender charges from year four onward.
For the 5-year Interest Rate Guarantee Period: The surrender charges are 8% in year one, 7% in year two, 6% in year three, 5% in year four, and 4% in year five, with no surrender charges from year six onward.
For the 7-year Interest Rate Guarantee Period: The surrender charges are 8% in year one, 7% in year two, 6% in year three, 5% in year four, 4% in year five, 3% in year six, and 2% in year seven, with no surrender charges from year eight onward.
These surrender charges apply to distributions (but not if you annuitize or upon death).
Instead of opening this online, can I contact a financial advisor for help?
Absolutely. We welcome you to reach out to your TIAA financial advisor or calling us at 844-842-2472 for help.
We’re here to help
Take the next step toward guaranteed growth. Speak with a TIAA financial advisor to see if TIAA MyChoice MYGA is right for your portfolio. Give us a call at 844-842-2472.
1. The rates TIAA credits are quoted as effective annual rates with interest compounded daily.
2. Tax deferral is automatically provided by tax-qualified retirement plans including IRAs. There is no additional tax deferral provided when an annuity contract is used to fund a tax-qualified retirement plan including IRAs. Investors should only consider buying this contract to fund a tax-qualified retirement plan or an IRA for this annuity’s insurance features, such as annuity payments, and/or death benefit.
3. For stability, claims-paying ability and overall financial strength, Teachers Insurance and Annuity Association of America (TIAA) is one of only three insurance groups in the United States to currently hold the highest possible rating from all four leading insurance company rating agencies: A.M. Best (A++ rating affirmed as of July 23, 2025), Fitch (AAA rating affirmed as of August 5, 2025), Standard & Poor’s (AA+ rating affirmed as of August 27, 2025) and Moody’s Investors Service (Aa1 rating affirmed as of May 21, 2025). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’ obligations and do not apply to variable annuities or any other product or service not fully backed by TIAA’s claims-paying ability.
4. Converting some or all of your savings to income benefits (referred to as “annuitization”) is an irrevocable decision once payments begin.
TIAA MyChoice MYGA is a fixed annuity contract issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY. Form series including but not limited to: ICC24-NQRSM, TIAA-NQRSM-CA, TIAA-NQRSM-NY, TIAA-NQRSM-FL and TIAA-NQRSM. Not all contracts are available in all states or currently issued. Annuity contracts may contain terms for keeping them in force. We can provide you with costs and complete details.
Any guarantees under annuities issues by TIAA are subject to TIAA's claims-paying ability.