TIAA Enhances CREF Variable Annuities with New Account Names for Better Clarity

TIAA Announces Updates to CREF Variable Annuity Account Names

TIAA, a leader in retirement services, has revealed significant updates to its flagship CREF Variable Annuity suite which manages $290 billion in assets. Effective November 30, 2025, three accounts within this suite will undergo name changes designed to improve clarity and better reflect their specific investment strategies. This initiative aims to help clients navigate their investment choices with ease.

The three accounts affected by this change are as follows:

1. CREF Stock Account will be renamed to CREF Total Global Stock Account.
- The new name underscores the account's strategy of investing in a diversified mix of stocks from both domestic and international markets, offering a clear indication of its global reach.

2. CREF Equity Index Account will now be known as CREF S&P 500 Index Account.
- This adjustment aligns the account's name with its benchmark, the S&P 500 Index, making it simpler for investors to understand the index that the account tracks.

3. CREF Social Choice Account will change its name to CREF Responsible Balanced Account.
- The updated name emphasizes its focus on Environmental, Social, and Governance (ESG) parameters alongside a balanced investment approach of equities and fixed income.

Colbert Narcisse, Chief Product & Business Development Officer at TIAA, commented on the rationale behind these modifications, stating, "These name updates reflect our commitment to transparency and will help our clients make informed investment decisions." He stressed that the changes are meant to aid clients in comprehending the strategies behind each account, allowing them to assemble balanced portfolios more effectively.

Importantly, while the names are changing, the investment strategies and management of these accounts will remain consistent. Fees and expenses tied to these accounts will also stay unchanged, providing peace of mind to current and prospective investors.

A Legacy in Variable Annuities

TIAA is a pioneer in the variable annuity sector, having introduced this innovative financial product back in 1952. These annuities are crafted to assist individuals in taking full advantage of long-term market growth while also ensuring they have resources to cope with inflation during retirement. Variable annuities are uniquely structured to allow contributions to grow through various investment portfolios, which can later be converted into reliable income streams during retirement.

One of TIAA's standout features is its Income Test Drive program, which grants investors unparalleled flexibility compared to most other annuity products. This program allows participants to receive income payments from their annuity for up to two years without the risk of making a premature irrevocable decision on financial commitments. This ensures that clients can thoroughly evaluate their options before finalizing their choice on lifetime income.

In light of the rising costs of living during retirement, TIAA's offerings are designed to provide a diversified source of income. Many participants combine their fixed annuity (TIAA Traditional) with the variable annuity (CREF) in their retirement strategies, enhancing their ability to draw income from multiple sources like Social Security and other investments. This approach aims to balance stability with growth potential, ultimately creating a resilient income strategy that adjusts to the changing economic environment.

Conclusion

The renaming of TIAA's CREF accounts is a forward-thinking step aimed at enhancing the clarity of investment opportunities for clients. With a storied history and commitment to innovation in retirement solutions, TIAA continues to empower individuals to secure their financial future through informed decision-making and strategic investment planning. For more details on this initiative and TIAA's variable annuities, interested parties can visit tiaa.org/CREF.