TIAA-CREF announces variable annuity income changes


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):

  • Starting May 1, 2013, your monthly income will adjust to reflect the performance of markets in which each account invests. (See table below.)
  • If your income is changing, a confirmation of annuity income statement will accompany the April 2013 issue of the Outreach newsletter (PDF) mailed by the end of April to all participants receiving annuity income.

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) AccountsTIAA Real Estate AccountBond, 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 decreasesNo decreasesCREF 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:

  • Move your investments among the ten variable annuity accounts.
  • Transfer from the variable annuity accounts to the TIAA Traditional Annuity (as often as once per calendar quarter).
  • Transfer each year up to 20 percent of your TIAA Traditional Annuity to the CREF equity accounts. (Please note: You can’t shift this money back, so it’s important to evaluate the potential risks and rewards of increasing your exposure to equity markets.)

Need help? Call a TIAA-CREF Financial Consultant at 800 842-2252 to:

  • Evaluate your retirement income changes and asset allocation
  • Help you process any transfers
  • Review your sources of income outside of TIAA-CREF to give you a complete picture of your retirement income needs and portfolio allocation

(If you have an assigned Wealth Management Advisor, call your Advisor team directly.)