April 8, 2013
If you are receiving retirement annuity income that is revalued annually for the variable annuity accounts (CREF accounts and TIAA Real Estate Account):
What impact will the change have on my retirement income?
If you are receiving income from CREF variable accounts and the TIAA Real Estate Account, income changes reflect account performance for the one-year period ending March 29, 2013. (See table below.)
Annual percentage changes of variable annuity income (effective May 1, 2013)*
|Equity (Stock) Accounts||TIAA Real Estate Account||Bond, Money Market Accounts|
|CREF Stock: 10.33%|
CREF Global Equities: 8.41%
CREF Equity Index: 10.62%
CREF Growth: 6.03%
|4.65%||CREF Bond Market: 0.75%|
CREF Inflation-Linked Bond: 1.70%
|No decreases||No decreases||CREF Money Market: - 2.79%|
Income increased by 7.26% for the CREF Social Choice Account and by 3.94% for TIAA Access Lifecycle Retirement Income.
For TIAA-CREF investment products' standardized performance, please visit Research and Performance page .
If you’re receiving lifetime annuity income from the TIAA Traditional Annuity, please refer to our income change announcement for 2013.
Can I change my annuity income allocation?
Yes. Here are your options:
Need help? Call a TIAA-CREF Financial Consultant at 800 842-2252 to:
(If you have an assigned Wealth Management Advisor, call your Advisor team directly.)
* Please note the following: If you are receiving income under the monthly revaluation method, the income changes covered in this announcement do not apply to you. To learn more, contact us at 800 842-2252.
All TIAA-CREF investment products are subject to market risk and other risk factors.
For TIAA-CREF investment products' standardized performance, please visit Research and Performance page . Performance data represents past performance and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate. As a result, your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance current to the most recent month-end, visit tiaa-cref.org, or call 800 842-2252.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA , distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY.
Variable annuity account options are available through contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.