Retirement income that never retires
American workers deserve to retire with confidence, and 80% of plan sponsors agree that participants need in-plan income options.1 Today, target date funds are the bedrock of most retirement plans, and we believe that it's time for a pension reinvention that builds in the option to annuitize a portion of a participant savings. For over a century, TIAA has served the financial needs of those working in nonprofit fields through its sustainable retirement system. And as the investment manager of TIAA, Nuveen has supported the financial futures of millions of investors. Together through our service-oriented culture, we remain committed to helping everyone retire with dignity.??
We’ve reached an exciting milestone this year as assets in TIAA and Nuveen, a TIAA company ’s suite of lifetime income target-date solutions across corporate, educational, governmental, and healthcare retirement plans are now approaching $35 billion in AUM, far surpassing assets in any other comparable lifetime income products in the market. I’ve been fortunate to work closely with Colbert Narcisse , Chief Product Officer at TIAA, to bring these products to the 401(k) market, such as our historic partnership with Empower, that we announced recently. For the first time in history, 401(k) plan sponsors can provide participants with a unique, pension-like guarantee of lifetime income.??
“Going live with these new and market-disrupting products represents a significant milestone for our organization and is the result of TIAA’s strong history of leading in lifetime income,” said Colbert Narcisse. We firmly believe that embedding guaranteed lifetime income into a target date fund will revolutionize the retirement industry. Here at TIAA and Nuveen, we're excited to be at the forefront of this evolution and help millions of hardworking Americans receive a guaranteed retirement paycheck for life. Watch my recent Nuveen in 90 video where I discuss the evolution of target date funds.?
Interested in learning more about Nuveen Retirement Investing? Email us at [email protected] or call us at 888-842-5433. Explore our retirement solutions and subscribe to receive our latest insights straight to your inbox.?
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Endnotes?
1?PLANADVISER, “Retirement Income Evolution,” July 13, 2022.?
Retirement paycheck refers to the annuity income received in retirement. Guarantees are subject to the claims-paying ability of the issuing company.?
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6 个月Target Funds are not an answer. They do not take into account critical information that will provide the desired outcome for their Retirement. TARGET RATE Funds is the answer. Turn a Defined Contribution Plan into a Quasi-Defined Benefit Plan. An annuitization strategy coupled with future growth strategy I think would be more advantageous. People in the same age group do not have the same assets or time frames. Post Modern Portfolio Theory is today's Analysis tool, not a system that was created in the 70's. The minds that created MPT all agree that that methodology no longer works.