An annuity is a retirement product you can purchase from an insurance company to help generate a guaranteed income stream in your retirement.1
An annuity may be a good retirement savings option to consider if you have already contributed the annual maximum to other retirement vehicles or are ineligible to participate in more traditional retirement accounts.
While annuities offer some unique tax benefits, and higher contribution limits, they are not a good fit for everybody. Read our frequently asked questions below to help decide whether an annuity is right for you.
To learn more about how after-tax annuities from TIAA-CREF Life Insurance Company may fit in your retirement plan, speak with one of our Annuity Representatives today.
Call 877 554-8282 now.
1Guarantee subject to the claims-paying ability of the issuing insurance company.
2Taxable amounts received prior to age 59½ may be subject to a 10% IRS penalty in addition to ordinary income tax.
3The issuing insurance company may reserve the right to limit annual contributions.
4Guarantees subject to the claims-paying ability of the issuing insurance company.
5The tax information in this article is not intended to be used, and cannot be used, to avoid possible tax penalties. It was written to promote the products and services the article describes. Neither TIAA-CREF nor its affiliates offer tax advice. Taxpayers should consult an independent tax advisor for advice based on their own particular circumstances.
Please keep in mind that annuities are designed for retirement and other long-term goals. If you choose to invest in the variable investment products, your money will be subject to the risks associated with investing in securities, including loss of principal.
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1.20% as of 5/01/2015
*TIAA-CREF Investment Horizon Annuity. Not available in all states. Read the prospectus carefully before investing.
Learn whether exchanging your after-tax annuity to a TIAA-CREF Life after-tax annuity is right for you.