TIAA and Nuveen Expand Their Reach with 1,000 Employers Offering Retirement Solutions

TIAA and Nuveen's Latest Milestone in Retirement Security

In a remarkable milestone for retirement solutions, TIAA and Nuveen have announced that over 1,000 employers from various sectors, including corporate, educational, governmental, and healthcare, have implemented their lifetime income target-date solutions. This shift marks a significant evolution in how companies approach retirement benefits, especially as workers increasingly demand assured lifetime income options.

The fundamental goal of these solutions is to address the growing need for guaranteed lifetime income within retirement plans. According to Kourtney Gibson, CEO of TIAA Retirement Solutions, the decision to offer annuity-embedded target-date solutions stemmed from recognizing the importance of retirement security. TIAA's approach allows employers to implement these solutions easily, ensuring beneficiaries can access these benefits when they retire.

What Are TIAA and Nuveen's Lifetime Income Target-Date Solutions?

The suite of TIAA and Nuveen’s offerings includes two prominent products: TIAA RetirePlus for non-profit institutions and Nuveen Lifecycle Income CIT Series for various eligible plan types, such as 401(k)s. These next-generation solutions combine the familiarity of a target-date structure with the unique provision of durable lifetime income that remains accessible throughout retirement.

A key feature of both RetirePlus and Nuveen's Lifecycle Income is the model they follow, which can serve as a qualified default investment alternative (QDIA). This merges the traditional target-date approach with features designed explicitly for ensuring lifetime income continuity.

Explosive Growth

The inception of TIAA's lifetime income target-date solutions dates back to 2014, with a broad rollout coming in 2018. By 2022, these assets had soared to $10 billion and surpassed a staggering $50 billion by the close of 2024. As of February 2026, TIAA and Nuveen reported over $75 billion in these solutions, significantly outpacing their competitors in this niche sector.

Today, TIAA and Nuveen's offerings guarantee retirement income to more than a million American workers. Their success can be attributed to endorsements from over 65 consulting firms, many of which now recommend these solutions based on their strong value proposition for employees.

TIAA’s ability to secure a prominent position in several high-profile retirement plans stems from rigorous evaluations performed by independent fiduciary consultants and plan sponsors who recognize the value of their annuities.

Shifting Perspectives on Retirement Security

This evolution from TIAA's initial offerings aimed at non-profits to a broader market acceptance underscores a significant industry shift. According to Brendan McCarthy, Head of Retirement Investing at Nuveen, reaching 1,000 institutions signals that this model is not only beneficial for non-profits but for all sectors engaged in retirement planning.

The research by Charles River Associates highlights the superior outcomes associated with incorporating TIAA’s flagship fixed annuity into retirement plan glidepaths. The findings demonstrated that improved retirement outcomes occurred in over 90% of scenarios analyzed over nearly five decades of data.

TIAA's Commitment to Longevity and Security

TIAA has maintained an exemplary track record of paying higher total lifetime income benefits than it promises each year since 1949. Recognized for its financial strength, TIAA is one of only three U.S. insurance groups that currently hold the top ratings from all four major independent rating agencies. This reliability is critical as they aim to expand access to guaranteed lifetime income for more Americans through these innovative solutions.

Additionally, TIAA's commitment to sharing profits with participants plays a crucial role in the ongoing success of their products. They continue to prioritize not just transforming retirement plans, but also reinstating the promise of a secure retirement—one that defined the lives of earlier generations.

In conclusion, as TIAA and Nuveen expand their reach and enhance their offerings through innovative products, they are not just reshaping existing retirement plans but fundamentally altering the landscape of retirement security in America. With such significant adoption among employers, the future looks bright for guaranteed income solutions in the retirement sector.