TIAA Stable Value (Contract form series - SV-01, TIAA Certificate series - SV-CERT1) is a guaranteed annuity contract issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY 10017.
Contributions from different plans are pooled together and deposited in a non-unitized pooled separate account of TIAA. This guaranteed annuity contract is not considered an "investment" or "security" under federal securities laws. In addition, the contract provides a guaranteed minimum rate of interest of between 1% and 3% (before deductions for contract fees).
Contract fees are described in the annuity contract and are collected on a daily basis. Payment obligations and the fulfillment of the guarantees provided for in the contract in the accumulation phase are supported by the assets in the separate account. If the assets in the separate account are insufficient to meet these obligations, the shortfall is supported by the General Account of TIAA and is therefore subject to TIAA's claims-paying ability. Lifetime annuity payments are provided by TIAA, are subject to TIAA’s claims-paying ability, and are not supported by the assets in the separate account.
Past interest rates are not indicative of future interest rates. This product is not a mutual fund, variable annuity or bank product. The obligations of TIAA are not insured by the FDIC or any other federal governmental agency.
As provided for in the annuity contract, restrictions may apply to certain plan sponsor- and/or participant-initiated transactions. Please refer to the annuity contract or certificate for further details.
Annuity contracts contain exclusions, limitations, reductions of benefits and may contain terms for keeping them in force. Your financial consultant or advisor can provide you with costs and complete details.