I cannot seem to find any information on the surrender charge schedule for this...
TIAA-CREF
TIAA-CREF has a long-standing reputation for providing cost effective financial services to those in the academic, medical, cultural and research fields. They do this by creating and providing a broad menu of financial products and services that are focused on saving for and providing income during retirement. As a non-profit, TIAA-CREF is able to offer relatively low fee products. TIAA-CREF also provides its products and services through financial consultants who do not receive commissions. TIAA-CREF also happens to be a pioneer in the annuity industry having created and offered the first variable annuity.
| TIAA-CREF Product Reviews |
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Product Review of Intelligent Variable Annuity
This product has some of the lowest investment management fees in the industry... Product Review of Intelligent Variable Annuity
I would actually give this product 3.5 rather than 4 stars.
Yes the expenses... Product Review of Intelligent Variable Annuity
I agree that the TIAA variable annuity has one of the best (best from a... |
| Products Offered |
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| General Information | |
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| Website | http://www.tiaa-cref.org |
| Type | Insurance Company |
| Founded | |
| Ownership | |
| Country | USA |
| Contact Information | |
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| Address | Charlotte, NC 28201 |
| Phone | 800 842-2252 |
| Fax | |
Information & Articles about TIAA-CREF
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An article in Bank Investment Consultant questions whether TIAA-CREF has the ability to maintain its leadership position in the annuity industry. TIAA-CREF had $3.5 billion in variable annuity sales during the first quarter of 2009. Only MetLife at $3.7 billion ranked ahead of TIAA-CREF. TIAA ranked third in total annuity sales during the first quarter and has $375 billion in assets under management. The article essentially questions whether TIAA will continue to gather assets at its current pace. While that may prove difficult, assets have migrated to sources of the highest quality and stability such as TIAA and MetLife. Both companies have benefited from this flight to quality, and there does not appear to be any reason why this would not continue to be the case. Source: Bank Investment Consultant
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Variable annuity sales in the United States continue to decline in the wake of the financial crisis and capital market turmoil. First quarter sales of variable annuities totaled $30.4 billion. This represents a 26% decrease from the same period a year ago. Total variable annuity sales for 2008 totaled $154.8 billion, a drop of 15.1% from 2007. The top 5 variable annuity companies in terms of revenue were lead by MetLife:
Source: Trading Markets
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Annuities are all about producing income that will last according to P. Brett Hammond. Hammond is the chief investment strategist for TIAA-CREF asset management. In Hammond's view wealth creation and asset accumulation are fine, but producing income should be front and center when thinking about retirement:
This interview is available through Forbes magazine and is very worthwhile as retirement planning insights are provided by the chief investment strategist of the company that created the variable annuity. Source: Forbes |
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