Data provided represent inputs into the Morningstar advice engine on your behalf. If you recently used
Retirement Advisor online or had an advice session with a consultant, estimated retirement income will
appear in the tool or in reports sent to you and are not replaced with this information. Assumes a 70%
probability of success. A lower probability of success is associated with better (and less likely)
estimated income. You can also model different outcomes by going to TIAA.org/retirementadvisor (online Retirement
IMPORTANT: Projections and other information generated through the Ibbotson tool
regarding the likelihood of various investment outcomes are hypothetical, do not reflect
actual investment results and are not a guarantee of future results. The projections are
dependent in part of subjective assumptions, including the rate of inflation and the
rate of return for different asset classes. These rates are difficult to accurately
predict. The projections also rely on financial and economic historical assumptions that
may not reoccur in the future, volatility measures and other facts. Changes to the law,
financial markets or individual personal circumstances can cause substantial deviation
from the estimates. This could result in declines in an account’s value over short or
even extended periods of time. Results may vary with each use and over time.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and
Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and
certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College
Retirement Equities Fund (CREF), New York, NY.
Each is solely responsible for its own financial condition and contractual obligations.