Variable Annuities
Discover the benefits of CREF variable annuities.
Our CREF variable annuity accounts are designed with the goal to help employees grow their savings and create wealth. And in retirement, they have the option to receive retirement checks for life.1

Overview
Designed with the goal to help employees outpace inflation, plus the option for lifetime income.
Our variable annuities have offered competitive returns against benchmarks and peers.

Built for growth
Our variable annuities have offered competitive returns against benchmarks and peers.

Among the lowest costs
CREF Accounts are managed at cost with expenses that are among the lowest in the industry.2

More lifetime income
Historically, CREF Accounts have provided 67% more lifetime income in retirement than the standard method of withdrawing 4% per year.3
We invented the first variable annuity.
In 1952, we saw a potential income gap could endanger people’s retirement. So we created the first variable annuity, the CREF Stock Account (College Retirement Equities Fund). Through continued innovation, we’ve built several more offerings in the CREF suite that seek to create a better retirement for your employees.

CREF accounts
Choose from a range of CREF variable annuities.
We offer eight diverse CREF investment products, each of them with unique strengths. All of them offer the option for lifetime income.

CREF Stock
Management style: Active
Asset class: Equities
Investment Style: Global All-Cap Stock
Fees & expenses (R4): 0.10%

CREF Global Equities
Management style: Active
Asset class: Equities
Investment Style: Global Large Stock
Fees & expenses (R4): 0.10%

CREF Growth
Management style: Active
Asset class: Equities
Investment Style: Large growth
Fees & expenses (R4): 0.07%

CREF Equity Index
Management style: Passive
Asset class: Equities
Investment Style: Large growth
Fees & expenses (R4): 0.03%

CREF Social Choice
Management style: Active
Asset class: Balanced
Investment Style: Moderate Allocation Large Blend/Moderate Interest-Rate Sensitivity/Medium Credit Quality
Fees & expenses (R4): 0.07%

CREF Core Bond
Management style: Active
Asset class: Fixed income
Investment Style: Moderate rate sensitivity/ Medium credit quality
Fees & expenses(R4): 0.10%

CREF Inflation-Linked Bond
Management style: Active
Asset class: Fixed income
Investment Style: Moderate Interest-Rate Sensitivity/High Credit Quality
Fees & expenses (R4): 0.06%

CREF Money Market
Management style: Active
Asset class: Fixed income
Fees & expenses (R4): 0.04%
Learn more about how we can help diversify your company’s retirement options.
Adding CREF to your plan.
Include CREF in your plan’s default solution with TIAA RetirePlus, or as a stand-alone option on the plan menu.

Customer default solution: TIAA RetirePlus
Gain more control and bring the power of lifetime income to your default with TIAA RetirePlus.

Add as an individual option
Select from the eight CREF accounts and add to the plan menu as standalone options. One account, multiple accounts, or all eight are options.
Better together
Include fixed annuities for a more secure retirement.
A plan menu with both fixed and variable annuities that offer lifetime income can help protect employees from market volatility while allowing them to take advantage of long-term market opportunities. Having diversified income sources helps cover key retirement risks, including longevity, market, cognitive decline, and inflation.
Fixed*TIAA Traditional, TIAA Stable Value |
VariableCREF Accounts, TIAA Real Estate Account, TIAA Access |
Used togetherFixed and variable |
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As you have |
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Guaranteed growth that protects against market volatility |
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Designed for broad, long-term growth powered by the market |
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In retirement |
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Guaranteed payments for life, even in market downturns |
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Variable payments for life that can go up and down with the market and are designed to outpace inflation |
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May be right for you if want |
Guaranteed growth during saving and guaranteed |
Variable growth while saving with the potential for larger long-term returns, and variable retirement income |
A diverse growth and income strategy |
*Fixed annuities are issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.
Adding a fixed annuity to your plan's menu gives your employees the option to add more security to their savings and income.

TIAA Traditional
Fixed annuities with guarantees backed by TIAA’s general account.

TIAA Stable Value
Fixed annuity with guarantees backed by a separate account.
Helping your participants help themselves.
Learn how TIAA continues to expand participants’ financial education about retirement, helping you to work better with them. This latest interactive experience educates participants about the importance and value of lifetime income.
We’re here to help.

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1 Annuity Account options are available through contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability. Payments from the variable annuity accounts are not guaranteed and will rise and fall based on investment performance. Retirement check refers to the annuity income received in retirement. Guarantees of fixed monthly payments are only associated with TIAA's fixed annuities.
2 AUM as of December 31, 2024, inclusive of all separate accounts, asset classes, and investment strategies managed with ESG criteria/objectives. With more than 50 years of responsible investing experience, TIAA and Nuveen continue to be recognized as responsible investing leaders by industry ratings and rankers such as the UNPRI, Morningstar, Environmental Finance, and other third-party assessments. TIAA-CREF Investment Management (TCIM), LLC, is the CREF investment adviser and an affiliate of Nuveen, LLC.
3 Payments from variable annuity accounts are not guaranteed. When compared to theoretical 4% systematic withdrawal amounts from similarly invested peer groups, CREF, as represented by CREF stock, has a 10-year average initial payout rate ranging from 5.9% to 6.8% as of May 2024. There are material differences between mutual funds and CREF variable accounts. Mutual fund capital-gain distributions or dividends paid are added to the number of shares owned (number of shares increase). CREF account capital-gain distributions or dividends are added to the unit value (number of units stay constant). Mutual fund withdrawals are only available as one-time or systematic withdrawals. CREF accounts include the right to receive an income stream (a binding decision to receive annuity payments) from all or part of an account’s accumulation. CREF accounts deduct a mortality and expense risk charge of 0.005%.
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.
You could lose money by investing in the CREF Money Market Account. Because the accumulation unit value of the Account will fluctuate, the value of your investment may increase or decrease. An investment in the Account is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Account's sponsor has no legal obligation to provide support to the Account, and you should not expect that the sponsor will provide financial support to the Account at any time.
Equity investments will fluctuate and may decline in value, due to general market, economic and industry or sector conditions. The value and income generated by bonds and other debt securities will fluctuate based on interest rates. If rates rise, the value of these investments generally drops. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, inflation, social, economic, political risks and different accounting standards.
Guaranteed Period: The period during which annuity payment remaining due after your death and the death of your annuity partner, if any, will continue to be paid to the payee named to receive them. If you opt for guaranteed period ( 10, 15 or 20 years) and you die before it's over, income payments will continue to your beneficiary until the end of the period. If you don’t opt for a guaranteed period, all payments end at your death-so, it's possible for you to receive only one payment if you die less than a month after payments start. (the 15-year guaranteed period is not available under all contracts.)
CREF accounts may provide longer income payments than other investment products because of their mortality credit ("longevity credit") feature. The promise of lifetime income is made possible through the pooling of Account’s assets. Effectively, the assets from those with shorter life spans remain in "the pool" to provide payouts to those in the pool who live longer. Those who live the longest may receive more income. CREF's insurance benefit ensures that participants will receive an income payment for as long as they live.
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.
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.
Because social criteria exclude some investments, the Social Choice Equity Fund may not be able to take advantage of the same opportunities or market trends as portfolios that do not use such criteria. Note: If a fund’s investment strategy uses social criteria, it can exclude securities of certain issuers for nonfinancial reasons and may forgo some opportunities available to funds that do not use such criteria.
Income and withdrawal options are subject to the terms of the employer plan. Withdrawals prior to age 59 ½ may be subject to a 10% federal tax penalty. In addition to ordinary income tax.
Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability. Annuities are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.
TIAA Traditional and TIAA Stable Value are fixed annuity products issued through these contracts by Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY, 10017: TIAA Traditional form series including but not limited to: 1000.24; G-1000.4; IGRS-01-84-ACC; IGRSP-01-84-ACC; 6008.8. TIAA Stable Value TIAA Contract form series – SV-01 and SV-02, TIAA Certificate series – SV-CERT1 and SV-CERT2. Not all contracts are available in all states or currently issued.
Annuity contracts may contain terms for keeping them in force. We can provide you with costs and complete details.
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.
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.