*Source: Industry Average from July 1995 issue of Annuity & Life Insurance Shopper magazine
1 Additional amounts, when declared by TIAA's Board of Trustees, remain in effect for the "declaration year," which begins each January 1 for payout annuities. Additional amounts of interest or lifetime income, when declared, are not guaranteed for periods other than the period for which it is declared. Past performance is no guarantee of future results.
2 TIAA Actuarial Department. This exhibit reflects two hypothetical participants with equivalent ending account balances of approximately $100,000 that retire at age 65 and select the same single-life annuity with a 10-year guarantee period using TIAA’s standard payout annuity where payments begin on 1/1/95. One participant accumulated within TIAA Traditional’s Retirement Annuity contract making level monthly contributions of about $67 per month over a 30-year career. The other transferred the same amount into TIAA Traditional on 12/31/94. The career contributor received more initial lifetime income, in part, because of TIAA’s return of contingency reserves that have built up on older contributions. The chart also reflects any post-retirement increases in lifetime income, also as a result returning these reserves. Interest or income in excess of the guaranteed amount is not guaranteed for periods other than the period for which it is declared. Past performance is no guarantee of future results.
3 Source: TIAA Actuarial Department, based on actual historical data of the TIAA Standard payout annuity.
Annuity contracts contain exclusions, limitations, reductions of benefits, and may contain terms for keeping them in force. A financial consultant can provide you with cost and complete details.
TIAA Traditional is a fixed annuity product issued through these contracts by Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY,10017:_ Form series 1000.24; G-1000.4 or G-1000.5/G1000.6 or G1000.7; 1200.8; G1250.1; IGRS-01-84-ACC and IGRS-02-ACC; IGRS-CERT2-84-ACC and IGRS-CERT3-ACC; IGRSP-01-84-ACC and IGRSP-02-ACC; IGRSP-CERT2-84-ACC and IGRSP-CERT3-ACC; 6008.8 and 6008.9-ACC; 1000.24-ATRA; 1280.2, 1280.4, or 1280.3 or 1280.5, or G1350.
Although TIAA Traditional lifetime income payments may increase while in retirement, it is not an inflation-indexed annuity. Please note that the TIAA Group of companies does not provide tax or legal advice and you should consult your own advisors.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability. TIAA Traditional is a guaranteed insurance contract and not an investment for federal securities law purposes.
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.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.
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