Annuities are designed for retirement and other long-term goals. They offer several payment options, including lifetime income. Guarantees are based on the claims-paying ability of the issuer.
1 Since a number of the SECURE Act's provisions will be subject to interpretation by the Internal Revenue Service or other authorities, be sure to consult with a tax advisor about your own situation.
2 This change could have a big impact on estate planning strategies. Alternative strategies may be available, so be sure to consult with an attorney or tax advisor.
TIAA has a history of actively engaging policymakers to keep the "stretch" rules for beneficiaries in place. In the legislative compromises that led to the SECURE Act's passage, we were pleased to see that the "stretch" provision was not eliminated altogether as was originally proposed. 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 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.