By Irving S. Schloss
TIAA-CREF is the most important inner most 401-k plan on the planet, with greater than $260 billion below administration, together with an predicted 1% of all stocks traded at the big apple inventory alternate. And but, whereas there's a wealth of data on IRAs, 401(k)s and different funding autos, formerly there was little assistance for the hundreds of thousands of TIAA-CREF plan contributors and their advisors. The TIAA-CREF e-book deals the definitive advisor to TIAA-CREF for members, property planners, and monetary advisors. easily and clearly--and with a droll feel of humor--the authors clarify the usually complicated felony and fiscal facets of the way the TIAA-CREF plan works, how the funding offerings new individuals make can impact the cash to be had at retirement, what the distribution recommendations are for taking flight funds both ahead of or after retirement, and the way to go away the fund as an inheritance. For contributors within the accumulation degree in their careers, the authors clarify the $64000 modifications among fastened source of revenue securities (TIAA) and fairness securities (CREF), and consider the funding offerings for either. They tackle such vital matters as tips on how to allocate contributions, how transportable an account rather is, and the way plans fluctuate from organisation to agency. as well as the dear primer on property planning--from the right way to quantify resources, wishes, and source of revenue to how the Federal property Tax impacts TIAA-CREF accounts--the authors discover intimately the distribution strategies on hand and support weigh the professionals and cons of every selection. Drawing on their wide paintings within the box of property making plans, the authors disguise the gamut of what it takes to take advantage of out of a TIAA-CREF plan. TIAA-CREF is a registered trademark of the academics coverage and Annunity Association/College Retirement Equities Fund company.
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Extra resources for Understanding TIAA-CREF: How to Plan for a Secure and Comfortable Retirement
What any insurance company or annuity provider counts on to meet its obligations is the time value of money. The company has investment income and a continuous flow of cash from premiums received from participants who are still in the accumulation phase. In order to guarantee that it will be able to make payments, the company must TIAA-CREF: An Overview • 25 ascertain that a certain minimum of funds are invested conservatively to produce the necessary outflow of funds when participants elect to annuitize.
It is guaranteed. TIAA will reduce the interest you receive to cover internal expenses. Like any other insurance company, TIAA will also set aside reserves, typically termed "mortality costs," to ensure that the investment pool will suffice to cover payments that may be due to all annuitants who live longer than their life expectancy. These reserves also safeguard the insurer against the risk that its annuitants will live longer, on average, than projected in its mortality tables. If in any year TIAA decides that its current investments have yielded cash in excess of what it needs to cover expenses and its reserves, it will declare a dividend.
God helps those who help themselves. This book is designed to make that task easier. But the ball rests in your court, and it always will. When you have read this book, you will, we expect, be a more knowledgeable participant, but you need to remain actively interested in what is happening and will happen to your account. We are talking about your last two to three decades on this planet, a sizable percentage of your life span. Ask questions, demand answers that you understand, and remember that we are talking about your and your loved ones'lives.
Understanding TIAA-CREF: How to Plan for a Secure and Comfortable Retirement by Irving S. Schloss