TIAA Traditional – What You Need to Know About TIAA’s Traditional Fixed Annuity-Handout2 - FAQs - TIAA Traditional – What You Need to Know About TIAA’s Traditional Fixed Annuity

Handout2 - FAQs - TIAA Traditional – What You Need to Know About TIAA’s Traditional Fixed Annuity

Pdf Summary

TIAA Traditional is a fixed annuity product provided by Teachers Insurance and Annuity Association of America (TIAA). An annuity is a product offered by an insurance company that allows you to save for retirement and receive guaranteed income in retirement. TIAA Traditional offers both growth and lifetime income options. It guarantees the growth of your contributions, even in volatile markets, and provides steady income payments for the rest of your life when you retire. TIAA is a highly rated insurance company known for its financial strength and stability.<br /><br />TIAA Traditional has a unique feature called "sharing the profits." This means that participants may receive additional growth and income beyond the guaranteed minimums through TIAA's profit-sharing approach. The longer you save in TIAA Traditional, the higher your potential payout rate may be.<br /><br />Transfers and withdrawals from TIAA Traditional vary depending on the type of contract you have. Some contracts have delayed liquidity, which means there are limitations on transfers and withdrawals before converting to lifetime income. Other contracts offer full liquidity, allowing you to move money in and out freely before converting to lifetime income.<br /><br />When you're ready to retire, you can choose from different lifetime income options, such as payments for your lifetime or the lifetimes of you and your spouse or partner. TIAA Traditional also provides the opportunity for higher income through higher payout rates and raises in retirement.<br /><br />TIAA Traditional does not have an expense ratio like investment products. TIAA's compensation is derived from the difference between the interest earned on supporting assets and the interest credited to TIAA Traditional accumulations.<br /><br />It's important to consider the financial strength of the insurance company when comparing fixed annuities. TIAA has the highest possible ratings from leading insurance company rating agencies.<br /><br />Overall, TIAA Traditional provides a secure and reliable option for saving for retirement and receiving guaranteed income in retirement.

Keywords

TIAA Traditional

fixed annuity

Teachers Insurance and Annuity Association of America

retirement savings

guaranteed income

growth option

lifetime income option

profit sharing

liquidity options

financial strength