Personal Savings

Important disclosure information at bottom of page
When it comes to retirement income, there are many sources of personal savings you can draw from to help supplement income you may receive from Social Security, a defined benefit pension if you have one, and your employer’s retirement plan.

You can supplement your retirement income with:


You can choose from a variety of types including an IRA that can provide lifetime income.

After-tax annuities

Separate from your retirement plan, an after-tax annuity can provide tax-deferred savings and additional income in retirement.

Other personal accounts

Such as managed accounts, brokerage accounts, CDs and more.


An Individual Retirement Account (IRA) is a type of investment vehicle you can use to help save for or manage your money in retirement. With an IRA, you choose individual investments- similar to the way you choose investments in a 401(k) or 403(b).
With an IRA, you have options for generating income in retirement. You can take cash withdrawals to pay for unexpected expenses, set up a regular withdrawal schedule to help cover monthly expenses or plan to take your required minimum distributions. 1 Some also offer the ability to create a steady stream of income for either a lifetime or a guaranteed period of time. 2
This table shows which income options are available with each of TIAA's IRAs.

After-tax Annuities

Nonqualified or after-tax annuities from TIAA-CREF Life Insurance Company ("TC Life") and Teachers Insurance and Annuities Association of America ("TIAA") are available outside of employer retirement plans. Your contributions are made with after-tax dollars (not deducted from your salary) and can grow tax deferred. The income options for the after-tax annuities offered by TIAA and from TIAA-CREF Life Insurance Company (TC Life) are listed below.  Note that withdrawals prior to age 59½ are generally subject to a 10% IRS early withdrawal penalty in addition to ordinary income tax.  Guarantees are based on the claims-paying ability of the issuing company.
The contract value of a deferred variable annuity is subject to market fluctuations and investment risk so that, when withdrawn, it may be worth more or less than its original value.   Investing in an immediate variable income annuity involves risk of loss-the amount of each payment is not guaranteed and will fluctuate.
For more information about after tax annuities go to compare TIAA annuities
View theincome options available with our after-tax annuities.

Other Personal Savings

The TIAA family of companies offers a number of ways to help accumulate and manage your money. These sources can also be used for retirement income.
Managed Accounts - TIAA can provide comprehensive, strategic management of all your personal investment accounts - whether your goal is to leave a legacy for your children, to live a more comfortable retirement or both. With Managed Income Strategies, you can take advantage of the same expertise to shape and manage your assets to help generate income for your retirement.  Managed Account programs are fee-based investment advisory services offered through Advice & Planning Services, a division of TIAA Individual & Institutional Services, LLC, a registered investment adviser.
Brokerage Services - A brokerage account can help you invest for a variety of goals such as retirement, education, vacations, and wealth accumulation. Even in retirement, some investors use brokerage accounts to set up streams of income and cash management services. TIAA Brokerage Services is a division of TIAA Individual & Institutional Services, LLC, member FINRA. Some securities may not be suitable for all investors.
TIAA Bank® - As you create your retirement income plan, you may have a need to set funds aside for a short period of time. TIAA Bank offers CDs in durations ranging from 6 months to five years for funds you want to shelter from market volatility. Deposit and lending services and products are provided by TIAA, FSB. Member FDIC. Equal Housing Lender Equal Housing. TIAA Bank is a division of TIAA, FSB.
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1 Withdrawals of earnings from a retirement account are subject to ordinary income tax, plus a possible federal 10% penalty if you make a withdrawal before age 59 ½.
2 Available through guaranteed annuity products only.  Guarantees are backed by the claims paying ability of the issuer.
You should consider the investment objectives, risks, charges and expenses carefully before investing.  Please call 877-518-9161 or log on to for underlying product and fund prospectuses that contain this and other information.  Please read the prospectuses carefully before investing.
Certain products and services may not be available to all entities or persons.
Please note that TIAA is not responsible for the content or privacy policies of third-party sites that may be referenced in this article or to which you may link from this article. TIAA does not endorse or recommend the products, services, or information found on any third-party site.
Before consolidating assets, be sure to carefully consider the benefits of both the existing and new product. There will likely be differences in features, costs, surrender charges, services, company strength and other important aspects. There may also be tax consequences or other penalties associated with the transfer of assets. Indirect transfers may be subject to taxation and penalties. Consult with your own advisors regarding your particular situation.
Annuity contracts contain exclusions, limitations, reductions of benefits and may contain terms for keeping them in force. We can provide you with costs and complete details.
TIAA Traditional is a guaranteed insurance contract and not an investment for Federal Securities Law purposes.
The TIAA Traditional Retirement Annuity (RA) Contract form series 1000.24; Group Retirement Annuity (GRA) Contract form series G1000.4 or G1000.5, G1000.6 or G1000.7; Supplemental Retirement Annuity (SRA) Contract form series 1200.8; Group Supplemental Retirement Annuity (GSRA) Contract form series G1250.1; IRA Annuity Contract form series 1280.2 or 1280.4 (not available in all states) or TIAA-IRA-01; Roth IRA Annuity Contract form series 1280.3 or 1280.5 (not available in all states) or TIAA-Roth-01; Keogh Annuity TIAA Contract form series G1350. Retirement Choice Contract form Series IGRS-01-5-ACC, IGRS-01-60-ACC, and IGRS-01-84-ACC, Certificate Series IGRS-CERT1-5-ACC, IGRS-CERT1-60-ACC, IGRS-CERT1-84-ACC; Retirement Choice Plus Contract form Series IGRSP-01-5-ACC, IGRSP-01-60-ACC, IGRSP-01-84-ACC, Certificate Series IGRSP-CERT1-5-ACC, IGRSP-CERT1-60-ACC, IGRSP-CERT1-84-ACC are issued by Teachers Insurance and Annuity Association of America,
The Intelligent Variable Annuity, contract form series TCL-VA2 is issued and underwritten by TIAA-CREF Life Insurance Company, headquartered in New York, NY. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributes securities. The TIAA-CREF Investment Horizon Annuity, contract form series TCL-MVA 1 is issued and underwritten by TIAA-CREF Life Insurance Company, headquartered in New York, NY. The Single Premium Immediate Annuity, contract form series TCL-1009, TCL-1033, TCL-901 is issued and underwritten by TIAA-CREF Life Insurance Company, headquartered in New York, NY. These products may not be available in all states. Please call us for details.
TIAA Traditional is issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.  After-tax annuities are issued by TIAA-CREF Life Insurance Company., New York, NY. Each entity in the TIAA family of companies is solely responsible for its own financial condition and contractual obligations.
This material is for informational or educational purposes only and does not constitute investment advice under ERISA. 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.