What is an Annuity?
Simply put, an annuity is a contract between an individual and an insurance company in which the individual's investment can accumulate tax deferred and be used for a retirement income stream.
At TIAA-CREF Life Insurance Company (TIAA-CREF Life), we offer after-tax annuities that you must invest in personally as opposed to retirement annuities that are offered by an employer in a retirement plan. To fund a retirement annuity you contribute pretax dollars through your paycheck. To purchase an after-tax annuity you generally invest money that you’ve already paid taxes on.
An after-tax annuity can be used to:
- Supplement your employer-sponsored retirement plan
- Complement your savings in IRAs
- Accumulate tax deferred for long-term retirement savings
- Turn savings into a retirement income that can last for life1
What are your choices?
Is an annuity right for you?
Annuities and life stages
A well-balanced retirement plan is built on a firm foundation.
- Maximize your retirement savings at work through your employer-sponsored plan.
- Venture beyond your workplace plans with individual investments in an IRA.
- Consider an after-tax annuity to do more.
1All guarantees are based upon TIAA-CREF Life's claims paying ability.
After-tax annuities are issued by TIAA-CREF Life Insurance Company (TIAA-CREF Life), 730 Third Ave., New York, NY 10017
