TIAA is offering a deferred fixed annuity to the corporate retirement market that provides a predictable, steady stream of guaranteed income for life in retirement, according to a news release.
The TIAA Secure Income Account is specifically designed to be used as an allocation within managed accounts or custom target-date model portfolios in 401(k) plans, the company said.
This is the first time TIAA has opened its offerings to the corporate retirement market. The company noted that it has consistently paid out more than $500 billion in retirement benefits to millions of people working in higher education and other non-profit, purpose-driven […]
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