Skip to main content
  • Get help
    Get in touch
    • Contact us
    • Find TIAA near you
    • Wealth Management
    • Schedule consultations & seminars
    Online help
    • Search FAQs
    • Search forms & manage transactions
    • Visit the security center
    Getting started
    • Enroll in an employer's plan
    • Open an account
    • Need online access?
  • Our sites
    • Plan sponsors
    • Consultants
    • Advisors
    • TIAA Institute
    • TIAA Kaspick (planned giving)
    • Nuveen
    • PlanFocus®
    • Business EdgeSM
  • Logout
TIAA logo TIAA logo
  • My Account
  • Retirement
    Our products
    • Retirement plans
    • Retirement annuities
    • Guaranteed lifetime income
    • Variable lifetime income
    • IRAs – retirement savings
    • Rollovers
    • Personal annuities
    • Target date funds
    • HSAs – health savings accounts
    • See all retirement products
    Essentials
    • Retirement advice
    • Financial education
    • All about lifetime income
    • Webinars
    Tools & resources
    • Retirement Journey Planner
    • Personal annuities performance
    • Early withdrawal calculator
    • Retirement income tools
    • Forms and transactions
    • All tools and calculators

    You deserve income for life

    Curious about lifetime income? Check out our digital experience and learn about how you can receive monthly retirement checks for as long as you live.

    Learn more
  • Wealth Management
    Wealth Management
    • Advice services
    • All investment services
    Managed services
    • Investment management
    • Personal trust services
    Self-directed accounts
    • Annuities – lifetime income
    • Brokerage accounts
    • IRAs – retirement savings
    • HSAs – health savings accounts
    • 529 plans – college savings
    Resources
    • Market perspectives
    • Investment performance
    • Daily performance watchlist
    • Life insurance performance
    Tools
    • Find the right IRA for you
    • Calculate IRA contribution limits
    • Calculate Roth IRA conversion
    • All tools and calculators
    Standard headshot of the CIO

    Six questions investors are asking

    TIAA Wealth Chief Investment Officer Niladri 'Neel' Mukherjee dives into six questions investors are asking regarding markets and the economy.

    Learn more
  • About TIAA
    About
    • Our story
    • Our values
    • How we invest
    • Our leadership team
    Get in Touch
    • Contact us
    • Find TIAA near you
    • Wealth Management
    • Schedule consultations & seminars
  • Enroll
  • Open an IRA
  • My Account
  • Log in
TIAA logo TIAA logo
TIAA logo TIAA logo
  • Enroll
  • Open an IRA
  • My Account
  • Log in
  • My Account
  • Retirement
  • Wealth Management
  • About TIAA
  • Enroll
  • Open an IRA
  • My Account
  • Log in
  • Logout
  • Our sites
  • Get help
Back to main menu
Back to main menu
Our products
  • Retirement plans
  • Retirement annuities
  • Guaranteed lifetime income
  • Variable lifetime income
  • IRAs – retirement savings
  • Rollovers
  • Personal annuities
  • Target date funds
  • HSAs – health savings accounts
  • See all retirement products
Essentials
  • Retirement advice
  • Financial education
  • All about lifetime income

    Curious about lifetime income? Check out our digital experience and learn about how you can receive monthly retirement checks for as long as you live.

  • Webinars
Tools & resources
  • Retirement Journey Planner
  • Personal annuities performance
  • Early withdrawal calculator
  • Retirement income tools
  • Forms and transactions
  • All tools and calculators
Back to main menu
Wealth Management
  • Advice services
  • All investment services
Managed services
  • Investment management
  • Personal trust services
Self-directed accounts
  • Annuities – lifetime income
  • Brokerage accounts
  • IRAs – retirement savings
  • HSAs – health savings accounts
  • 529 plans – college savings
Resources
  • Market perspectives
  • Investment performance
  • Daily performance watchlist
  • Life insurance performance
Tools
  • Find the right IRA for you
  • Calculate IRA contribution limits
  • Calculate Roth IRA conversion
  • All tools and calculators
Back to main menu
About
  • Our story
  • Our values
  • How we invest
  • Our leadership team
Get in Touch
  • Contact us
  • Find TIAA near you
  • Wealth Management
  • Schedule consultations & seminars
Back to main menu
Plan sponsors Consultants Advisors
TIAA Institute TIAA Kaspick (planned giving) Nuveen
PlanFocus® Business EdgeSM
Back to main menu
Get in touch
Contact us Find TIAA near you Wealth Management Schedule consultations & seminars
Online help
Search FAQs Search forms & manage transactions Visit the security center
Getting started
Enroll in an employer's plan Open an account Need online access?
  • /
  • Introduction
    • Retirement unknowns
    • Guaranteed income
  • All about annuities
    • How annuities work
    • Types of annuities
    • Annuities and your plan
  • Our annuities
    • Meet our offerings
    • Our fixed annuity
    • Calculate monthly amount
    • Our variable annuities
  • Getting your checks
    • Ways to start saving
    • Annuity payout options
  • Let's get started
    • Take action

Contact us

Call 1-800-842-2252

Schedule a meeting

In a world of unknowns, TIAA can offer retirement security.

Annuities: guaranteed retirement income

TIAA monthly retirement checks offer the assurance you'll have money coming in as long as you live.

Retirement unknowns

No two retirees are on the same path.

But we all want certainty about our money, health and future.

A smiling woman

How much money will I need each year when I retire?

Many retirees budget for 70-100% of their total preretirement income during retirement. This assumes some of your expenses will disappear in retirement and 70% to 90% will be enough to cover essentials.1

A smiling gray-haired man

How long will I live?

We all ask ourselves this question, especially while planning our retirements. The average 65-year-old American adult will live to age 85.2

A smiling man

What will the economy look like when I retire?

It’s impossible to know where the economy will be when you leave the workforce. Savers should build a plan that accounts for a range of eventualities.

Dive deeper: Many retirees live 5 to 10 years longer than they think they will. Learn about longevity.

Go in depth
Error
We're sorry. We've experienced an issue when loading this content. Please close this pop-up and retry.

Guaranteed income

With so many unknowns, guaranteed income offers the assurance you'll have money coming in as long as you live.

Man smiling and staring out of a window

There are three ways to receive guaranteed payments during retirement:

1 Social Security
1
Social Security

During your working years, you pay taxes that fund Social Security. When you retire, you get a set monthly amount that can replace part of your income.3

As of December 2023, the average annual Social Security income for a retired individual was $22,860.4

2 Pension plans
2
Pension plans

Pensions provide regular payouts after you retire. While common in the past, today they're rare.

Traditional pensions are declining fast. In 1975 70% of retirement plan participants had one, compared to only 12% today.5

3 Annuities
3
Annuities

A retirement annuity is funded by you and often matched by your employer. When the time is right, you can choose to activate lifetime income and turn some of your savings into monthly retirement checks.

Fixed annuity sales rose 300% during 2022 and 2023.6

These can all be good options for retirement.

But only annuities are both widely available and offer flexibility and control through monthly retirement checks.

A woman leaning down to pet a dog

So what exactly is an annuity?

Learn the basics of annuities, including how they work and what they can do for your retirement financial plan.

How annuities work

With an annuity, you trade in a portion of your retirement savings for monthly checks you'll receive for the rest of your life.

Types of annuities

There are two types of retirement annuities: fixed and variable. They make a terrific team.

 
Fixed

TIAA Traditional*

Variable

CREF and TIAA Real Estate

Fixed & variable

Used together

As you save
 
Guaranteed, predictable growth7 that isn't affected by market performance ✓   ✓
Opportunity for long-term growth based on market performance   ✓ ✓
In retirement
 
Guaranteed monthly checks for life, even in market downturns ✓
  ✓
Variable monthly checks for life that can go up and down with the market   ✓
✓
For you, if you're looking for Guaranteed growth while saving and steady retirement checks Variable growth while saving and retirement checks that go up or down with the market A diverse growth and income strategy

*Issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.

Let's take a look at our flagship annuity, TIAA Traditional, as an example.

Annuities have two phases.

Step one

First, you save.

After choosing an annuity that aligns with your retirement goals, in this case TIAA Traditional, you begin contributing money through an employer's plan, like a 403(b), or on your own, through an IRA.

Step two

Your savings accumulate.

Your annuity savings can grow two ways: through contributions and by earning interest. With a fixed annuity, you can never lose money. The time during which you're saving is called the accumulation phase.

Step three

Then, you annuitize.

When the time is right, you can choose a portion (or all) of your annuity savings to convert into a monthly retirement check.

This is called the annuitization phase.

Step four

And collect your checks.

With a fixed annuity like TIAA Traditional you can receive monthly retirement checks for as long as you live, providing income you and your loved ones can count on.

Illustration of a tree with green apples
Illustration of a tree with green apples
Illustration of a hand planting two seeds and two sprouts
Illustration of a tree with leaves
Illustration of a ladder leaned against a tree with green apples
Illustration of three baskets of green apples and a hand holding an apple

Let's take a look at our flagship annuity, TIAA Traditional, as an example.

Illustration of a tree with green apples

Annuities have two phases.

Illustration of a tree with green apples

Step one

First, you save.

After choosing an annuity that aligns with your retirement goals, in this case TIAA Traditional, you begin contributing money through an employer's plan, like a 403(b), or on your own, through an IRA.

Illustration of a hand planting two seeds and two sprouts

Step two

Your savings accumulate.

Your annuity savings can grow two ways: through contributions and by earning interest. With a fixed annuity, you can never lose money. The time during which you're saving is called the accumulation phase.

Illustration of a tree with leaves

Step three

Then, you annuitize.

When the time is right, you can choose a portion (or all) of your annuity savings to convert into a monthly retirement check.

This is called the annuitization phase.

Illustration of a ladder leaned against a tree with green apples

Step four

And collect your checks.

With a fixed annuity like TIAA Traditional you can receive monthly retirement checks for as long as you live, providing income you and your loved ones can count on.

Illustration of three baskets of green apples and a hand holding an apple

Dive deeper: Tackling four common annuity myths.

Go in depth
Error
We're sorry. We've experienced an issue when loading this content. Please close this pop-up and retry.

Annuities and your plan

Remember, annuities are one part of a bigger picture.

A strong retirement strategy includes a range of investment types—each with a unique purpose.

During your working years, your annuity can add stability and growth potential to your investments.

Once you retire, the income from your annuity can guard against key risks like outliving your savings, market downturns, inflation or cognitive decline.

Guaranteed sources

Guaranteed sources, like fixed annuities, can provide a dependable stream of income in retirement.

Real estate

Real estate returns are typically less affected by the stock market, which can help lower your portfolio risk.7

Stocks

Stocks can offer high growth potential but generally come with high volatility and risk.

Fixed income

Fixed-income investments, like bonds, are generally less risky than stocks.

Close

Dive deeper: See how having a variety of investments may benefit you.

Go in depth
Error
We're sorry. We've experienced an issue when loading this content. Please close this pop-up and retry.
A short-haired woman with glasses walking down an aisle of bookshelves

Why TIAA annuities stand apart.

Get to know our retirement annuities, plus learn how TIAA shares profits with our customers.

Meet our offerings

There are many annuities out there. TIAA's are unlike any other.

Woman in an office smiling

We offer both fixed and variable retirement annuities. They deliver a wide variety of investment options that may help you diversify your portfolio and reduce your risk—and deliver income that lasts as long as you live.

Fixed annuity

TIAA Traditional

Guaranteed growth while you save and income you can count on for life.

  • Grows as you save, no matter what's happening in the market
  • Guaranteed monthly retirement checks that never go below a set amount
  • Opportunity for additional interest and income through TIAA profit sharing
Learn more

Variable annuity

CREF

Low-cost growth that helps protect a portfolio from long-term inflation.

  • Harnesses market growth opportunities
  • Guaranteed monthly retirement checks that vary in amount8
  • Among the lowest fees in the industry9
Learn more

Variable annuity

TIAA Real Estate

Growth potential meets diversification.

  • Commercial real estate returns tend to be less affected by the stock market7
  • Guaranteed monthly retirement checks that vary in amount8
  • Adds diversity to your portfolio
Learn more

Our fixed annuity

Meet TIAA Traditional

This is TIAA Traditional, our flagship fixed annuity. You get guaranteed growth in your working years, the assurance you'll have money coming in as long as you live and the opportunity for additional income and bigger payouts than your contract guarantees.

Guaranteed growth
Guaranteed growth

The money you put into TIAA Traditional grows every day, no matter what the market does.

Delivering more since 1948

TIAA Traditional guarantees you a set interest rate, but you could earn more. TIAA has credited additional interest on one or more contracts every year since 1948.10

Bigger retirement checks
Bigger retirement checks

Because we share profits with you, not shareholders, you have the opportunity for higher amounts, including the TIAA Loyalty BonusSM.

Profits go to you, not shareholders

TIAA has no public shareholders and seeks to give profits back to our participants through higher interest rates, bigger payouts and a TIAA Loyalty BonusSM for long-term savers.

Flexibility and Control
Flexibility and Control

You control whether, when and how much of your savings to turn into a monthly retirement check for life.11

Support loved ones

You can choose to continue paying a spouse or partner if you pass before they do.

Dive deeper: TIAA profits go to you, not shareholders. Learn how you can get more.

Go in depth
Error
We're sorry. We've experienced an issue when loading this content. Please close this pop-up and retry.

Estimate your check

Estimate your monthly retirement check from TIAA Traditional.

To get your monthly retirement check estimate,* fill in the fields below.

*Estimates are based upon hypothetical assumptions. Your results may vary. Calculations are based on TIAA Traditional contracts available within an employer-sponsored plan, not IRAs. Important information

error Enter valid age
error Enter valid age
error Please enter an amount between 0 and 9,999,999
error Please enter an amount between 0 and 4,500
Calculate

Estimated monthly check amount*

 

Estimated annual amount*

 

Your estimates were calculated by combining your contributions, guaranteed growth, plus an additional in "profit sharing" from TIAA

Unable to process the results.

We are having trouble in loading the data at this time. Please try again after sometime.

Illustration of a clock and coins
How are these numbers calculated?

The Estimated Payments are not guaranteed; they are an estimate based upon these hypothetical assumptions:

(1) Interest earnings of 4.50% during accumulation, which is the lowest new money rate for in plan TIAA Traditional contracts as of March 1st 2024; new money rates may change on a monthly basis,

(2) New money lifetime income payout rates for TIAA Traditional contracts as of March 1st 2024 for a single life annuity with a 10-year guaranteed period; lifetime income payout rates may change on a monthly basis, and

(3) Hypothetical additional amounts for lifetime income payments based on the number of accumulation years (0% for 1-5 years; increasing 0.5% annually for years 6-39; 17.5% for 40+ years).

(4) Projected income is expressed in future dollars and not adjusted for inflation, which causes a dollar amount in the future to have less purchasing power than today.This calculator is an estimate using the assumptions above. For those with existing accumulations in TIAA Traditional, go to TIAA.org for tools to illustrate your personal estimate.

The Estimated Payments are intended to illustrate the potential of TIAA Traditional, a fixed interest annuity that provides guaranteed interest between 1-3%, has provided additional discretionary interest in the accumulation phase since 1948 and additional income above the guarantee since 1949. TIAA shares profits with TIAA Traditional owners through declared additional amounts of interest and through increases in annuity income throughout retirement. These additional amounts are not guaranteed. These raises are determined every year and require no action to receive. TIAA has increased income payments 19 times in the past 30 years as of 1/1/2024

The "half your age" Point of View represents an approximate starting place a participant can consider when allocating a portion of their retirement portfolio into TIAA Traditional and is not to be used in place of advice which is provided by a registered advisor

Important Information

Retirement payments as used in this tool/use case refers to lifetime income made available by guaranteed-interest annuity contracts, not income provided by any other sources. Annuity contract guarantees are subject to the financial strength of the issuing insurer.

Transfers and withdrawals from TIAA Traditional are restricted by its underlying agreements that can affect the liquidity of the product. Annuitization of your assets is a permanent decision and cannot be reversed.

Before rolling over assets, consider your other options. You may be able to leave money in your current plan, withdraw cash or roll over the assets to your new employer's plan if one is available and rollovers are permitted. Compare the differences in investment options, services, fees and expenses, withdrawal options, required minimum distributions, other plan features, and tax treatment. Speak with a TIAA consultant and your tax advisor regarding your situation. Learn more at TIAA.org/reviewyouroptions.

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This calculator is intended to provide you with information to help you make informed decisions. You should not view or construe the availability of this calculator as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, as an offer to sell or a solicitation to buy or hold any securities, as a recommendation of any securities transactions or investment strategy involving securities (including account recommendations), or as a recommendation to rollover or transfer assets to TIAA. In making this calculator and information available to you, TIAA assumes that you are capable of evaluating the information and exercising independent judgment. As such, you should consider your other assets, income and investments and you should not rely on the information as the primary basis for making investment decisions. The information that you may derive from this calculator is for illustrative purposes only and is not individualized or based on your particular needs. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor's own objectives and circumstances. The purpose of the calculator is not to predict future returns, but to be used as education only. The assumptions underlying this calculator are provided here and will change over time and from time to time. Contact your tax advisor regarding the tax implications. You should read all associated disclosures.

Past performance is no guarantee of future results.

TIAA Traditional "shares profits" through additional amounts of interest and annuity income. They're not guaranteed other than for the period for which they were declared and only available through employer-sponsored plans.

Our variable annuities

Meet CREF

We created the College Retirement Equities Fund (CREF) in 1952. CREF Stock was the first ever variable annuity. Today, we offer eight CREF investment options covering a range of asset classes, plus TIAA Real Estate, to deliver long-term growth potential with the opportunity for lifetime income.10

Growth opportunities
Growth opportunities

Designed for competitive returns during your career and in retirement.

Performance meets purpose

CREF offers access to Social Choice—a one-stop responsible investment with some of the lowest costs in the industry.9

Low costs
Low costs

Expenses among the lowest in the industry plus management by a global investment leader.9

No profit

CREF accounts operate at cost and without profit, so more money goes to work for you.

Built-in lifetime income
Built-in lifetime income

Flexible lifetime income features with ongoing growth opportunities to fight long-term inflation.

Flexibility and choice

From stocks to bonds to social good, choose which CREF accounts you want to invest in. You can change your choice at any time, without penalty.

Unique benefit
Unique benefit

With other annuities, once you begin receiving checks you can't go back. With our Income Test Drive, you can try out getting monthly retirement checks to see if variable annuity income is right for you.10

No fee or penalty

There is no fee to participate in Income Test Drive.12

Add a guaranteed source of income to your retirement plan.

Learn about the ways you can set aside money for your monthly retirement checks, and, when you're ready, how your checks will arrive during retirement.

Ways to get started

Saving with a retirement annuity is easy.

Man and woman in a meeting
Choose your investments

Select the retirement annuity options that are right for you—TIAA Traditional, CREF, TIAA Real Estate or a mix.

Start contributing

Many people put a portion of their savings into the annuity when they open it. You can also begin with your initial contribution.

Get TIAA support

Our experts can help you achieve your retirement goals.

Annuity payout options

We give you control over your retirement checks.

Tailor your payments

You decide how much to convert—a little, a lot or somewhere in between.

Cover a spouse or partner

Choose lifetime income for just yourself, or include your spouse or partner as a second recipient.

Choose your timing

Retiring early? You can activate payments right away or let your balance grow for more income later.11

Protect loved ones

Set a beneficiary to receive income after you and your spouse or partner dies.

Select your timeframe

Set a “guaranteed period” to receive checks. If you pass within that time, checks go to your beneficiary until the guaranteed period ends.

Select a different option

Your annuity contract may include alternatives to lifetime income payments, which could help during emergencies or income gaps.

A gray-haired man with glasses gardening

Protect your future income today.

Here's how you can get started with TIAA based on your career stage and employer offering.

Take action

Tell us about you to see your next steps.

Your career stage:

Does your employer offer TIAA in your benefits?

Your next steps:

Error
We're sorry. We've experienced an issue when loading this content. Please refresh your browser window and try again.

This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product recommendation. This material does not consider an individual’s own objectives or circumstances which should be the basis of any investment decision.

Investment products may be subject to market and other risk factors. See the applicable product literature or visit tiaa.org for details.

All guarantees are based on TIAA’s claims-paying ability. TIAA Traditional is a guaranteed insurance contract and not an investment for federal securities law purposes.

Retirement payments refers to the annuity income received in retirement.  Guarantees of fixed monthly payments are only associated with TIAA's fixed annuities.

TIAA may share profits with TIAA Traditional Annuity owners through declared additional amounts of interest during accumulation, higher initial annuity income, and through further increases in annuity income benefits during retirement. These additional amounts are not guaranteed beyond the period for which they were declared.

TIAA may provide a Loyalty Bonus that is only available when electing lifetime income. The amount of the bonus is discretionary and determined annually.

Annuity contracts may contain terms for keeping them in force. We can provide you with costs and complete details.

TIAA Traditional is a fixed annuity product issued through these contracts by Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY, 10017: Form series including but not limited to: 1000.24; G-1000.4; IGRS-01-84-ACC; IGRSP-01-84-ACC; 6008.8.

Not all contracts are available in all states or currently issued.

Transfers and withdrawals from TIAA Traditional are restricted by its underlying agreements that can affect the liquidity of the product. Converting some or all of your savings to income benefits (referred to as "annuitization") is a permanent decision. Once income benefit payments have begun, you are unable to change to another option.

A variable annuity is an insurance contract and includes underlying investments whose value is tied to market performance. When markets are up, you can capture the gains, but you may also experience losses when markets are down. When you retire, you can choose to receive income for life and/or other income options.

The real estate industry is subject to various risks including fluctuations in underlying property values, expenses and income, and potential environmental liabilities. In general, the value of the TIAA Real Estate Account will fluctuate based on the underlying value of the direct real estate, real estate-related investments, real estate-related securities and liquid, fixed income investments in which it invests. The risks associated with investing in the Real Estate Account include the risks associated with real estate ownership including, among other things, fluctuations in underlying property values, higher expenses or lower income than expected, risks associated with borrowing and potential environmental problems and liability, as well as risks associated with participant flows and conflicts of interest. For a more complete discussion of these and other risks, please consult the prospectus.

Responsible investing incorporates Environmental Social Governance (ESG) factors that may affect exposure to issuers, sectors, industries, limiting the type and number of investment opportunities available, which could result in excluding investments that perform well.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

1 Source: TIAA, Create a replacement income in retirement

2 Source: SSA, Retirement & Survivors Benefits: Life Expectancy Calculator

3 Source: SSA, Retirement Ready Fact Sheet

4 Source: Social Security Administration, Social Security Fact Sheet 2023

5 Source: TIAA Retirement Bill of Rights Flyer

6 Source: LIMRA, Why Fixed-Rate Deferred Annuity Sales Tripled in Two Years

7 Returns are largely unaffected by movements in stock or bond markets since returns are generated by rental income and changes in property values. For the 10-year period ended December 31, 2022, REA correlation to the S&P 500 Index and Bloomberg U.S. Aggregate Bond Index was -0.20 and -0.36, respectively. Over this same period, correlation between the FTSE Nareit All Equity REIT Index and the S&P 500 Index was 0.77. You cannot invest directly in any index. Index returns do not reflect a deduction for fees and expenses.

8 Other payout options are available. Any guarantees under annuities issued by Teachers Insurance and Annuity Association of America are subject to its' claims-paying ability. Payments from the TIAA Real Estate Account will rise or fall based on investment performance.

9 Source: Morningstar Direct, December 31, 2023. The CREF variable annuity accounts have expense ratios that are in the bottom decile (or 100% below median) of their respective Morningstar variable annuity sub-account category. Our variable annuity accounts are subject to various fees and expenses, including but not limited to management, administrative, and distribution fees; our variable annuity products have an additional mortality and expense risk charge. Please see CREF prospectus for other fees or expenses.

10 TIAA may declare additional amounts of interest and income benefits above contractually guaranteed levels. Additional amounts are not guaranteed beyond the period for which they are declared.

11 Converting some or all of your savings to income benefits (referred to as “annuitization”) is a permanent decision. Once income benefit payments have begun, you are unable to change to another option.

12 There are no fees or charges to initiate or stop this feature. However, it’s important to note that your annuity’s balance will be reduced by the income payments you receive, independent of the annuity’s performance. Income Test Drive income payments are based upon the annuitization of the amount in the account, period (minimum of 10 years), and other factors chosen by the participant. If you do not stop the Income Test Drive within the two-year test period, the remaining balance in the account you selected for the Income Text Drive feature will be annuitized in accordance with the selections you made for the Income Test Drive. Annuitization is irrevocable. Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability. Interest in excess of the guaranteed amount is not guaranteed for periods other than the periods for which it is declared.

3989564 -0425
TIAA logo

We're here to help

Contact us
Co-browse

Find a local office

Connect with us

For individual customers

  • TIAA.org
  • TIAA Trust
  • Enroll in an employer's plan

For employers

  • Plan sponsors
  • 3rd-party administrators
  • TIAA Institute

For institutional investors

  • Asset management
  • Planned giving

For financial advisors

  • TIAA Investments
  • Nuveen
  • Retirement advisors
  • Institutional consultants

Regulation best interest

  • Form CRS
  • Learn more

FINRA BrokerCheck

  • Check the background of this firm on FINRA's BrokerCheck
  • FINRA Manual and other related FINRA information

About TIAA

  • News & press
  • Careers
  • Our leadership team
  • Governance & leadership
  • Corporate social responsibility
  • Our Values
  • Business continuity
  • Site map
  • Security
  • Accessibility
  • Terms & conditions
  • Prospectus
  • Privacy
  • Do not sell/share my personal information
  • Confidentiality for victims of domestic violence

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.

You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 or go to www.TIAA.org/prospectuses for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.

The TIAA group of companies does not provide legal or tax advice. Please consult your tax or legal advisor to address your specific circumstances.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributes securities products. SIPC only protects customers' securities and cash held in brokerage accounts. 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 is solely responsible for its own financial condition and contractual obligations.

TIAA Brokerage, a division of TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributes securities. Brokerage accounts are carried by Pershing, LLC, a subsidiary of The Bank of New York Mellon Corporation, Member FINRA, NYSE, SIPC.

Teachers Insurance and Annuity Association of America is domiciled in New York, NY, with its principal place of business in New York, NY. Its California Certificate of Authority number is 3092.

TIAA-CREF Life Insurance Company is domiciled in New York, NY, with its principal place of business in New York, NY. Its California Certificate of Authority number is 6992.

Read the TIAA-CREF Individual & Institutional Services, LLC, Statement of Financial Condition.

© automatically this year and prior years, Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY 10017.