The Estimated Payments are not guaranteed; they are an estimate based upon these hypothetical assumptions: declared interest earnings of 4% during accumulation; once lifetime income begins, we use 3.5% interest earnings and mortality based on the 2019 TIAA unisex mortality rates for a single life annuity with a 10-year guaranteed period, as well as hypothetical additional amounts based on the number of accumulation years (0% for 1-5 years; increasing 0.5% annually years 6-39; 17.5% for 40+ years).

This calculator is an estimate using the assumptions above. For those with existing accumulations in the TIAA Secure Income Account, contact your plan recordkeeper's call center and ask about lifetime income options from your TIAA Secure Income Account balance. They will have the ability to conference in a TIAA consultant to provide information on the benefits of lifetime income, request a personalized lifetime income illustration, and begin the process of starting lifetime income payments if you are ready to do so.

The Estimated Payments are intended to illustrate the potential of the TIAA Secure Income Account, a fixed interest annuity that provides guaranteed interest between 1-3%. Although the TIAA Secure Income Account is a new TIAA fixed annuity, it has some similarities to other TIAA fixed annuities such as the TIAA Traditional. TIAA Traditional has provided additional discretionary interest in the accumulation phase since 1948 and additional income above the guarantee since 1949. TIAA has shared profits with TIAA Traditional owners through declared additional amounts of interest, and/or additional amounts of lifetime annuity income, and/or through increases in annuity income throughout retirement. These additional amounts are not guaranteed, however since 1994, those receiving lifetime income from TIAA Traditional have experienced 16 increases in their annual annuity payment amounts (at an average increase of 1.07%). (Source: TIAA Actuarial Department based on actual historical data of the TIAA standard payout annuity.) Although TIAA intends to undertake a similar approach for TIAA Secure Income Account owners, note that actual amounts of interest and lifetime income above the guaranteed minimum for the TIAA Secure Income Account may differ from TIAA Traditional.

This material is for informational or educational purposes only and does not constitute investment advice under ERISA or a securities recommendation under federal securities laws. This calculator is intended to provide you with information to help you make informed decisions. You should not view or construe the availability of this calculator as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, as an offer to sell or a solicitation to buy or hold any securities, as a recommendation of any securities transactions or investment strategy involving securities (including account recommendations), or as a recommendation to rollover or transfer assets to TIAA. In making this calculator and information available to you, TIAA assumes that you are capable of evaluating the information and exercising independent judgment. As such, you should consider your other assets, income and investments and you should not rely on the information as the primary basis for making investment decisions. The information that you may derive from this calculator is for illustrative purposes only and is not individualized or based on your particular needs. This material does not take into account your specific objectives or circumstances, or suggest any specific course of action. Investment decisions should be made based on your own objectives and circumstances. The purpose of the calculator is not to predict future returns, but to be used as education only. The assumptions underlying this calculator are provided here and will change over time and from time to time. Contact your tax advisor regarding the tax implications. You should read all associated disclosures.

Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability.

Annuitization of participant's assets is a permanent decision and cannot be reversed.

Personal Pension refers to the income received from a guaranteed-interest annuity contract, not income provided by a defined benefit pension plan.

The TIAA Secure Income Account is a guaranteed annuity issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY and not an investment for federal securities law purposes.