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

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

Video Transcription

Video Summary

In this video, Paul Balin, Senior Director on TIAA's Institutional Financial Services Group, discusses the features and benefits of TIAA Traditional, a fixed annuity product. He explains that TIAA Traditional is offered in two types of plans, base retirement plans and supplementary retirement plans, each with different features and liquidity options. Paul emphasizes that TIAA Traditional provides guaranteed growth regardless of market volatility and offers the option for guaranteed lifetime income in retirement. He explains that TIAA shares profits with participants in three ways: higher interest rates credited during the accumulation phase, higher payout rates for long-term contributors, and raises in payouts during retirement. Paul also highlights the financial strength of TIAA and its commitment to maintaining reserves to ensure the fulfillment of its commitments. He encourages advisors to help their clients make use of the benefits of TIAA Traditional and to consider it as a component of their lifetime income plan. The video ends with a Q&A session where Paul addresses questions about the mechanics of TIAA Traditional, the crediting rate reset, and the profitability of TIAA.

Keywords

Paul Balin

TIAA Traditional

fixed annuity

retirement plans

liquidity options

guaranteed growth

lifetime income

financial strength

lifetime income plan