TIAA and CREF ANNUITIES
Create more retirement
security with lifetime income.
Imagine retiring with the knowledge that you’ll have money coming in for as long as you live. For millions of retirees, this is a reality—because they’re receiving lifetime income from a TIAA retirement annuity.
What are retirement annuities?
Annuities are a financial tool you can use as you aim to grow your savings and replace your salary in retirement. In simple terms, they are insurance contracts—but with unique benefits to you. They allow you to save money during your working years and receive retirement checks that last as long as you live.1
A fixed annuity is more conservative and offers predictability through a guaranteed growth rate while you’re saving and guaranteed checks for life during retirement.
A variable annuity carries more risk but also offers more long-term growth potential because your money is invested in the market, so your savings balance and the size of your lifetime retirement checks will vary.
overview
Combining fixed and variable annuities can offer a powerful retirement financial strategy.
TIAA’s retirement annuities are designed to help your savings grow during your working years.
When you're ready to retire, you can choose lifetime income and receive payments for the rest of your life.2
Combining our fixed and variable annuities can help diversify your portfolio while you’re saving and during retirement.3
Solutions
FIXED ANNUITY
TIAA Traditional provides guaranteed growth as you save and guaranteed income during retirement—even in the most volatile markets.4
- Grows every day as you save, no matter what
- Bigger retirement checks via TIAA’s profit sharing approach5
- Flexibility and control over how you receive income
Variable annuity
CREF is designed to grow with the market while you’re saving and offers variable income for life during retirement.
- Designed for long-term growth and can move up and down with the market
- Among the lowest fees in the industry6
- Retirement checks that vary with investment performance
Variable annuity
A different way to invest in real property, the TIAA Real Estate Account provides investment access to commercial real estate and offers variable income for life.
- Designed for growth while you’re saving and during retirement
- Diversification7,8 and access to your money at any time
- Option for lifetime income payments; amount will vary with investment performance
Fixed annuity
TIAA Stable Value is a fixed annuity that’s guaranteed to grow every day while you save and offers income for life.
- Guaranteed growth while you save
- Access your money at any time
- Option for lifetime income payments
Variable annuity
TIAA Access is designed to grow with the market while you’re saving and offers variable income for life during retirement.
- Designed for growth
- Multiple investment options
- Option for lifetime income payments
*Issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.
Compare
Annuities work well together.
Fixed and variable annuities have distinct, complementary benefits. Used together, our fixed and variable annuities can help protect against key retirement risks, like market changes and inflation.
FixedTIAA Traditional, TIAA Stable Value |
VariableCREF Accounts, TIAA Real Estate Account, TIAA Access |
Used TogetherFixed and variable |
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As you save |
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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 | |||
| May be right for you if want | Guaranteed growth during saving and guaranteed income during retirement | Variable growth while saving with the potential for larger long-term returns, and variable retirement income | A diverse growth and income strategy |
Give us a call at 800-732-8353, weekdays, 8 a.m. – 8 p.m. (ET) or schedule an appointment.
A new way to learn about retirement annuities.
TIAA has created a brand-new digital experience to help you understand retirement annuities, including how they work, the difference between fixed and variable and how they can offer assurance that you’ll have money coming in for as long as you live.
An annuity is a contract between you and an insurance company. A retirement annuity is designed to help you save for retirement. During your working years you contribute money to your annuity account. When you’re ready you can activate retirement payments (called “annuitizing”) and the insurance company will pay you regularly for a fixed period or for the rest of your life.
A fixed annuity is a contract between you and an insurance company. While you're saving in a fixed annuity (that is, making contributions into an account), you earn a minimum guaranteed interest rate on your contributions. When you retire, a fixed annuity can offer you regular payments that will never fall below a certain guaranteed level and are guaranteed to last for your lifetime. TIAA Traditional is our flagship fixed annuity.
A variable annuity is a contract between you and an insurance company. While you're saving in a variable annuity (that is, making contributions into an account), the company you’re saving with invests your money; the value of your account will fluctuate based on the investments’ performance. It is possible to lose money in variable annuities. When you retire, variable annuities can provide an income stream that is guaranteed to last for your lifetime. The actual amount of each payment will rise or fall based on investment performance. Our variable annuities include CREF Accounts, TIAA Real Estate Account and TIAA Access.
1 Retirement check refers to the annuity income received in retirement. Guarantees of fixed monthly payments are only associated with TIAA's fixed annuities. Payments from the variable annuity accounts are not guaranteed and will rise and fall based on investment performance. Other payout options are available.
2 Converting some or all of your savings to income benefits (referred to as "annuitization") is a permanent decision. Once income benefit payments have begun, you are unable to change to another option.
3 Diversification is a technique to help reduce risk. It is not guaranteed to protect against loss.
4 All guarantees are based on TIAA's claims-paying ability. TIAA Traditional is a guaranteed insurance contract and not an investment for federal securities law purposes. Past performance is no guarantee of future results.
5 TIAA may share profits with TIAA Traditional Annuity owners through declared additional amounts of interest during accumulation, higher initial annuity income, and through further increases in annuity income benefits during retirement. These additional amounts are not guaranteed beyond the period for which they were declared.
6 Source: Morningstar Direct, December 31, 2023. The CREF variable annuity accounts have expense ratios that are in the bottom decile (or 100% below median) of their respective Morningstar variable annuity sub-account category. Our variable annuity accounts are subject to various fees and expenses, including but not limited to management, administrative, and distribution fees; our variable annuity products have an additional mortality and expense risk charge. Please see CREF prospectus for other fees or expenses.
7 Returns are largely unaffected by movements in stock or bond markets since returns are generated by rental income and changes in property values. For the 10-year period ended March 31, 2024, REA correlation to the S&P 500 Index and Bloomberg U.S. Aggregate Bond Index was -0.29 and -0.32, respectively. Over this same period, correlation between the FTSE Nareit All Equity REIT Index and the S&P 500 Index was 0.79. You cannot invest directly in any index. Index returns do not reflect a deduction for fees and expenses.
8 The real estate industry is subject to various risks including fluctuations in underlying property values, expenses and income, and potential environmental liabilities.
In general, the value of the TIAA Real Estate Account will fluctuate based on the underlying value of the direct real estate, real estate-related investments, real estate-related securities and liquid, fixed income investments in which it invests. The risks associated with investing in the Real Estate Account include the risks associated with real estate ownership including, among other things, fluctuations in underlying property values, higher expenses or lower income than expected, risks associated with borrowing and potential environmental problems and liability, as well as risks associated with participant flows and conflicts of interest. For a more complete discussion of these and other risks, please consult the prospectus.
Annuity contracts contain terms for keeping them in force. Exclusions, restrictions, limitations and reductions in benefits will, in certain situations, apply to annuity contracts. Your financial consultant or advisor can provide you with costs and complete details.
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 form series including but not limited to: SV-01 and SV-02, TIAA Certificate series – SV-CERT1 and SV-CERT2. Not all contracts are available in all states or currently issued.
Transfers and withdrawals from TIAA Traditional are restricted by its underlying agreements that can affect the liquidity of the product.
TIAA’s retirement annuities are designed to help your savings grow during your working years.