Teachers Insurance and Annuity Association: Providing Retirement Security for Educators

Teachers play a vital role in shaping our future by educating the next generation. But, despite their significant contributions, many teachers still struggle to make ends meet. Fortunately, the Teachers Insurance and Annuity Association (TIAA) is here to provide educators with the financial security they need to retire with dignity.

What is TIAA?

TIAA is a non-profit organization that provides retirement investment products and services to individuals working in education, healthcare, and other non-profit sectors. Founded in 1918, TIAA has a long and distinguished history of serving the needs of educators and other mission-driven professionals.

Today, TIAA is one of the largest retirement providers in the world, with over $1 trillion in assets under management. TIAA serves over 5 million customers, including 3.9 million participants in its retirement plans.

What Retirement Products and Services does TIAA offer?

TIAA offers a wide range of retirement products and services to help educators and other non-profit professionals save for retirement. These include:

Whether you are just starting out in your career or getting ready to retire, TIAA has a retirement product or service that can help you achieve your goals.

Why should Educators Consider TIAA?

TIAA is an excellent choice for educators because it understands the unique financial challenges that they face. Many educators do not earn as much as their private sector counterparts, and therefore need to be especially diligent about saving for retirement.

TIAA’s retirement products and services are designed to help educators save efficiently and effectively. TIAA has a long history of working with educational institutions, and therefore understands the specific needs of educators.

TIAA is also committed to providing excellent customer service. Its representatives are knowledgeable and friendly, and are always willing to help participants with their retirement planning needs.

FAQ

Q1. What is a 403(b) plan?

A 403(b) plan is a type of retirement plan that is available to employees of non-profit organizations, including public schools, colleges, and universities. The plan allows employees to defer a portion of their salary on a pre-tax basis, which can then be invested to grow tax-free until retirement.

Q2. How much can I contribute to a 403(b) plan?

The maximum contribution limit for a 403(b) plan is $19,500 for 2021. Individuals who are 50 years of age or older are also allowed to make additional “catch-up” contributions of up to $6,500 per year.

Q3. What is a Roth IRA?

A Roth IRA is a type of individual retirement account that allows individuals to contribute after-tax dollars that can then grow tax-free. Withdrawals from a Roth IRA are also tax-free, as long as they meet certain requirements.

Q4. What is an annuity?

An annuity is a financial product that is designed to provide a guaranteed stream of income in retirement. An annuity is purchased with a lump sum of money, and the issuer of the annuity agrees to make regular payments to the annuitant, either for a fixed period of time or for the rest of their life.

Q5. What is a managed account?

A managed account is an investment account that is managed by a professional investment manager. The manager is responsible for selecting investments that meet the client’s investment objectives and risk tolerance.

Conclusion

Teachers and other non-profit professionals face unique financial challenges, but TIAA is here to help. With a wide range of retirement products and services, TIAA can help educators save efficiently and effectively for retirement. Whether you are just starting out in your career or getting ready to retire, TIAA has a retirement product or service that can help you achieve your goals.