Products March 21, 2019

TIAA Enhances Customers’ View of Retirement Income

According to Lori Dickerson Fouché, with TIAA, “The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck."

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TIAA announced enhancements to its Retirement Profile tool, a feature of the company’s Preparing for Retirement experience.

Available to all customers, the tool analyzes an individual’s real-time account information, along with their responses to a handful of simple lifestyle and financial questions, to give them a view of what their income in retirement might look like.

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According to Executive Vice President and CEO of TIAA Financial Solutions Lori Dickerson Fouché, the tool is designed to make retirement planning easier for customers and help them build confidence in their decisions.

“The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck,” she adds.

According to TIAA, the expanded retirement income profile tool offers individuals estimates whether an their portfolio is “on track” to generate the monthly income they will need in retirement using real-time account data; suggests strategies to help an individual work toward their goals by adjusting factors like the age at which they start collecting Social Security and how they will draw income from their annuities; and provides an interactive “play area” that shows individuals how adjustments to their inputs, such as retirement age, can change their monthly retirement income and likelihood of meeting their annual retirement income needs.

Proposed strategies are outlined alongside an individual’s current strategy, illustrating how adding income from annuities may be able to help an individual secure a stream of income in retirement for as long as they live. The tool also generates a “probability of success” indicator to further illustrate whether a particular approach will put an individual on track to achieve their annual retirement income needs.

Break from the Grind March 21, 2019

A Little Friday File Fun

And now it's time for FRIDAY FILES!
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In Berlin, Germany, passengers on a high-speed train running from Frankfurt to Paris said a man took a fire extinguisher off the wall, smashed a glass door separating the cab from the passenger compartment, and told the shocked driver the train was going much too fast and he had to save the passengers. According to the Associated Press, the police said the man was drunk.

 

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In Sayre, Oklahoma, a woman was arrested for delivering contr.aband to a correctional facility. Apparently, she used a T-shirt gun to launch items over the prison fence. Tulsa television station KOTV reports that the container that was launched contained cellphones, ear buds, phone chargers, metha.mphetamine, digital scales, marij.uana and tobacco.

 

In Schwaebisch Hall, Germany, in a bit of irony, a fire at a crematorium caused significant damage to the building—but the 20 bodies stored inside remained intact.

 

In Santa Rosa, California, a man forced by the city to reduce the height of his fence has protested in an unusual way. The man had built a 6-foot-tall fence on his corner lot so his dogs would have a place to run and couldn’t easily get out. However, he was ordered to cut his fence in half after a neighbor filed a complaint with the city, claiming it obstructed the view of oncoming traffic for drivers at the intersection, according to Oakland station KTVU-TV. He complied, but put a bunch of na.ked mannequins in some outdoor seating visibly in the yard. The display also features a sign that reads “Reserved seat for the nosey neighbor that complained about my fence to the city.” The man says so far he has not had any negative feedback.
A failed trust fall.

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You never know what might be lurking on the path as you’re jogging.

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Remember to check both ways before you cross the street.

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