Introducing a New Custom Default Solution, TIAA RetirePlus℠
TIAA RetirePlus is a simple way for plan sponsors and consultants to offer a custom set of model portfolios designed to be QDIA-eligible
“A Century ago, TIAA was founded on the need for secure retirement income,” said Dan O’Toole, Senior Managing Director of Institutional Investments & Research at TIAA. “That need has not diminished, so we continue to bring new solutions to address the needs of our clients. This latest innovation makes it simple for plan sponsors and consultants to create models that can help improve participant outcomes and includes guaranteed income investments that provide certainty of income within the familiar target-date like structure.”
Mesirow Financial designed the strategy and asset class allocations. The plan sponsor, as fiduciary, selects the investment options for their models on their own or with advice from their co-fiduciary investment advisor, or can delegate selection to their own investment manager with full discretion authority.
TIAA’s Custom Default Solutions program lets plan sponsors and their consultants build model portfolios specific to the demographics of their plan. They provide more control over investment choices and costs and are designed to be eligible to be selected as Qualified Default Investment Alternatives (QDIA). To learn more, visit https://www.tiaa.org/public/consultants/partner-plan-advisors-consultants/retireplus.
“These solutions give plan sponsors and their advisors flexibility and control over perhaps the most important investment alternative in their plans – the default,” said Mr. O’Toole. “By giving workers better access to lifetime income options in their retirement plans, plan sponsors can offer protection against retirees outliving their savings and help provide their employees with the secure retirement they deserve.”
About TIAA
With an award-winning2 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.
This material is for informational purposes only and does not constitute a recommendation to invest through a model or to purchase any security or advice about investing or managing retirement savings. This material does not take into account the specific objectives or circumstances of a plan participant, or suggest any specific course of action. Investment decisions should be made in consultation with a plan participant’s personal advisor based on his or her own objectives and circumstances. The models are not “investment companies” within the meaning of the Investment Company Act of 1940, as amended, and the models do not issue securities within the meaning of the Securities Act of 1933, as amended.
TIAA RetirePlus (the “Program”) is an asset allocation program that includes asset allocation models that a plan participant may choose to guide the investment of his or her account into underlying investment options selected by the plan sponsor (the “underlying investments”). The plan sponsor selects the specific underlying investments available under its plan to represent the various asset classes in the models. An independent third party adviser engaged by
The target asset class ratios for a plan participant’s model based account will become more conservative over time as the plan participant’s years to retirement decrease. For information regarding the changes to the target allocations please contact TIAA. An account’s actual allocation percentage to an underlying investment may vary from the target allocations due to the performance of the underlying investments or other factors. Accounts invested in accordance with the models will be rebalanced to the applicable target allocations periodically. The underlying investments included in a model are subject to change and may not be representative of the current or future underlying investments for the model. Some or all of the underlying investments included in a model may be sponsored or managed by TIAA or its affiliates and pay fees to TIAA and its affiliates.
No guarantee— Neither the models nor any investment made pursuant to the models are deposits of, or obligations of, or guaranteed or endorsed by TIAA or their affiliates (except with respect to certain annuities sponsored by TIAA or its affiliates), or insured by the
Plan participants should consider the investment objectives, principal strategies, principal risks, portfolio turnover rate, performance data, and fee and expense information of each underlying investment carefully before directing an investment based on the model. For a free copy of the program description and the prospectus or other offering documents for each of the underlying investments (containing this and other information), call TIAA at 877-518-9161. Please read the program description and the prospectuses or other offering documents for the underlying investments carefully before investing.
Investment, insurance and annuity products are not
TIAA RetirePlusSM is a registered service mark of
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1 Based on data from 63 providers in PLANSPONSOR magazine’s 2018
2
3 Based on
View source version on businesswire.com: https://www.businesswire.com/news/home/20181008005586/en/
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