Is 4.388% attractive to you?

[veremchuka]

Sorry I may have not understood (wasn't there a link? I did not read the link.) If it is fixed for life that's what I was replying to. I'm not a fan of annuities but I have a pension and SS, well at least for now.

 

[MikeTN]

Still not convinced

Op says he can get 3 percent basic interest plus 1.338 percent additional amount from new money in a TIAA retirement annuity.

The reason I think he is mistaken is because I have 2 TIAA annuity accounts and both show only the 3 percent, no additional amounts for new money but there is additional amount for old money.

Perhaps one of us should call TIAA to see who is correct -- I hope he is but I doubt it.

 

[nun]

Op says he can get 3 percent basic interest plus 1.338 percent additional amount from new money in a TIAA retirement annuity.

The reason I think he is mistaken is because I have 2 TIAA annuity accounts and both show only the 3 percent, no additional amounts for new money but there is additional amount for old money.

Perhaps one of us should call TIAA to see who is correct -- I hope he is but I doubt it.

I did check with TIAA. My accumulation rate for the current vintage is 4.387% made up of 3% guaranteed rate and an additional rate of 1.387%.

The payout interest rates are different, but range from 3% for current vintages up to 7.75% for pre 1992 contributions. As I have a lot of pre 1992 contributions when I do the single life annuity calculation for a 55 year old male I get a payout rate of 7.14%. I am getting a detailed quote from TIAA to see the life expectancy and payout interest rates they actually use.