What’s the most important thing your retirement plan should do?

The #1 answer according to 1,000 Americans surveyed? To provide guaranteed monthly income to cover living expenses throughout retirement.1
Insights

Survey shows what matters most1

The answers show that the vast majority of people picked income every month as their first choice.
Lifetime income survey results
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Where do you stand?

We found out many Americans are saving for the long retirement – 20 to 25 years, or even longer.1 But many don’t know how much money they’ll have every month in retirement. Do you?
Find out with our Retirement Income Planner.
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63%

of Americans underestimate how much money they’ll need in retirement1

Experts say you will need at least 70% of your current income. On average, actively participating TIAA retirees are on track to replace 90% of their income in retirement.2
Why TIAA

Guaranteed interest.3 Plus income for life.4

 
We have an impressive track record.

Reliability

We haven’t missed a payment in our 97 years of business.5

Results

TIAA Traditional Annuity has increased retiree income payment amounts 13 years out of the past 20.
*Additional amounts are not guaranteed.

High rankings

68% of our variable annuities are ranked above industry average by an independent firm.6
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Have questions?

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Creating lifetime income with annuities

There are a few things you might not know about annuities.
 
1 Source: 2016 TIAA Lifetime Income Survey. The survey was conducted by KRC Research by phone among a national random sample of 1,000 adults, age 18 years and older, from June 7 to June 16, 2016, using a combination of landline and cell phone interviews. The margin of error for the entire sample is plus or minus 3.1 percentage points.
2 Please note: an individual’s income replacement ratio will vary from the study’s estimated rate based on a number of unique individual factors. Study results are not intended to project anindividual’s actual ratio. The TIAA Retirement Income Index data is as of 12/31/2015 and it is based on 641,895 actively contributing participants from 450 TIAA recordkept plans. Using the participant’s current salary, age, contribution rates (employer/employee), asset allocation and an assumed retirement age of 67, TIAA leverages the advice engine from Morningstar Investment Management, LLC, an independent expert retained by TIAA, to calculate the projected retirement income stream(including estimated Social Security benefits) in current dollars as a percentage of current salaries using Monte Carlo analysis (500 total simulations). The results indicate theparticipant’s 70% probability of achieving the retirement goal. A lower probability of success is associated with better (and less likely) estimated income; a higher probability is associated with lower estimated income. Please note the median income replacement ratio based on the analysis above is 87%. The Morningstar tool’s advice is based on statistical projections of the likelihood that an individual will achieve their retirement goals. The projections rely on financial and economic assumptions of historical rates of return of various asset classes that may not reoccur in the future, volatility measures and other facts, as well as information the individual provides. IMPORTANT: Projections, and other information generated through the Retirement Income Index and the Ibbotson tool regarding the likelihood of various investment outcomes, are hypothetical, do not reflect actual investment results, and are not a guarantee of future results. Results may vary with each use and over time. Accountability Office, Report to Congressional Requesters, March 2016.
3 For fixed annuity products only. Guarantees are based on claims paying ability of the issuing company. Additional amounts may be paid and are not guaranteed. TIAA Traditional annuity provides for a minimum rate of interest and for additional amounts as declared by the TIAA Board. Such additional amounts, when declared, remain in effect for the “Declaration Year” which begins each March 1. TIAA Traditional is a guaranteed insurance contract and not an investment for Federal Securities Law purposes.
4 Some TIAA products and services are only available to employees and retirees (and their spouses) of nonprofit colleges and universities, public and private nonprofit elementary and secondary schools, teaching hospitals, museums, libraries and other nonprofit institutions.
5 Since 1918, TIAA-CREF participants have received a total of $431 billion in annuity payments and other benefits. As of 12/31/2015. Other benefits from TIAA and CREF include: Additional amounts paid on TIAA Traditional annuity contracts above the guaranteed rate, surrender benefits and other withdrawals, death benefits, health insurance and disability insurance benefits, and all other policy proceeds paid.
6 68% of TIAA-CREF’s funds and variable annuity accounts received an Morningstar overall rating of 4 or 5 stars (45.33% 4 stars and 24.00% 5 stars), based on risk-adjusted returns as of June 30, 2016. Morningstar ratings based on the lowest cost share class for each mutual fund, based on U.S. open end mutual funds; CREF Variable Accounts; and the Life Funds. For a fund or account with multiple share classes and the same pricing, the share class with the longest performance history is used. Please note Morningstar rates CREF group variable annuities within the open end mutual fund universe. Morningstar ratings may be higher or lower on a monthly basis. Morningstar is an independent service that rates mutual funds. The top 10% of funds or accounts in an investment category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. Morningstar proprietary ratings reflect historical risk-adjusted performance and can change every month. They are calculated from the fund or account’s three-, five- and ten-year average annual returns in excess of 90-day Treasury bill returns with appropriate fee adjustments, and a risk factor that reflects fund or account performance below 90-day T-bill returns. The overall star ratings are Morningstar’s published ratings, which are weighted averages of its three-, five- and ten-year ratings for periods ended June 30, 2016. Past performance cannot guarantee future results. For current performance and rankings, please visit TIAA. org/public/investment-performance. Variable annuities are not guaranteed and will fluctuate in value.
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