Annuitization Options Are Not, Actually, New: TIAA Exec

September 23, 2020 by Allison Bell

Teachers Insurance and Annuity Association (TIAA) has used group annuities to give millions of teachers a comfortable retirement, by offering them annuity-based versions of the 403(b) plan — the ancestor of the 401(k) defined contribution plan.

Since TIAA popularized the 403(b) plan, it has turned into such a big, diversified retirement services provider that even some people in the financial services sector have no idea that, in its heart, TIAA is an insurance company.

Click HERE to read the full story via ThinkAdvisor

Originally Posted at ThinkAdvisor on September 17, 2020 by Allison Bell.