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2021 Lifetime Income Survey

Offering Guaranteed Lifetime Income in retirement plans can help employers attract new workers and increase retention rates.
Insights

Workers say guaranteed lifetime income is the number one goal for participating in their employer’s retirement plan

75% of workers are much/somewhat more likely to stay at current employer if offered GLI option. 74% of workers are much/somewhat more likely to change employer if not offered GLI option.
Access the full survey for more insights.
Perspectives
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Guaranteed lifetime income is enticing

Almost 6 in 10 of all workers surveyed agree that employers have a responsibility to help employees with financial wellness and providing a way to obtain guaranteed lifetime income for retirement.
 

73% of employees recognize that owning guaranteed lifetime income offers a sense of financial security. They believe that a guaranteed lifetime income …

72%

Provides spending flexibility

72%

Helps cover essential expenses

66%

Provides security around world volatility
Employee Concerns

Healthcare and higher education employees have lower retirement confidence and are worried their retirement savings will not last

Charts showing that healthcare and higher ed employees are less confident they have enough for retirement. Those with a pension or a GLI annuity are more confident.
What you can do
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Employers can help improve retirement outcomes by offering guaranteed lifetime income and communicating how it can work in retirement

Take the next step

Help your employees by offering an in-plan guaranteed lifetime income option

Get more insights
Download the full report and put the insights to work for you and your employees.
We can help.
We're here to help
Call your TIAA relationship manager or the Administrator Telephone Center,
888-842-7782,
weekdays, 8 a.m. – 8 p.m. (ET).
Study Methodology
Greenwald Research conducted the 2021 TIAA Lifetime Income Survey using an online survey of 1,001 Americans age 27 – 75 living in the United States. The study was fielded between May 12 to May 30, 2021. Data was weighted by gender, education, income, working status, race, and generation.
 
All guarantees are based on the issuing company’s claims-paying ability.
 
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.
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