Coming to Transamerica: Nuveen TDFs with TIAA Lifetime Income
The Nuveen Lifecycle Income Index CIT Series will be offered as a default option for retirement plans that Transamerica recordkeeps as part of a strategic partnership announced today by TIAA and Transamerica.
The proprietary solution integrates Nuveen’s target-date fund features with guaranteed lifetime income through the TIAA Secure Income Account, offering plan sponsors an efficient, cost-effective way to provide lifetime income options to defined contribution plan participants.
“This collaboration reflects our commitment to delivering forward-thinking retirement solutions that meet the evolving needs of today’s workforce,” said Josh Rundle, head of retirement solutions at Transamerica. “By joining forces with Nuveen and TIAA, we’re combining investment innovation with the strength and stability of a trusted leader in lifetime income. Together, we’re making it easier for plan sponsors to offer participants a more secure path to and through retirement.”
The NLI CIT Series offers a diversified portfolio in a single investment, with the added benefit of guaranteed income in retirement. It is designed to reduce portfolio volatility while maintaining liquidity and portability—packaged in a familiar, professionally managed target-date structure. The NLI CIT Series is expected to be available to plan sponsors later this year.
“Our approach simplifies plan administration and allows plan sponsors to deliver lifetime income that is backed by TIAA’s top insurance ratings, proven annuity track record, and robust financial foundation,” said Colbert Narcisse, head of Product and Business Development at TIAA.
“This relationship with Transamerica significantly expands access to guaranteed lifetime income solutions—something that our research shows that workers overwhelmingly want.”
Brendan McCarthy
“This relationship with Transamerica significantly expands access to guaranteed lifetime income solutions—something that our research shows that workers overwhelmingly want,” said Brendan McCarthy, head of Retirement Investing at Nuveen. “We are continuously innovating our products and solutions while educating advisors and plan sponsors on how offering lifetime income can make their retirement plans more competitive.”
The Nuveen Lifecycle Income Index CIT Series offers retirement plan participants a diversified, professionally managed investment option with the added benefit of guaranteed lifetime income through an allocation to the TIAA Secure Income Account (SIA). Designed similarly to traditional target-date funds, the series aims for lower portfolio volatility due to the SIA component, while maintaining liquidity and portability. With a strong focus on risk management, the series provides a familiar structure for those seeking stability and income in retirement.
McCarthy added that progressive employers are discovering that offering pension-like benefits through solutions like the Lifecycle Income series creates a significant competitive advantage. “In today’s challenging labor market, providing employees with a clear path to guaranteed retirement income isn’t just the right thing to do—it’s a strategic differentiator that helps attract and retain top talent.”
The TIAA Secure Income Account protects retirement savings with guaranteed daily growth, even in volatile markets, and offers the option—though not the obligation—for lifelong, pension-like income, including spousal coverage if elected. It features a TIAA Loyalty Bonus and potential income increases to help offset inflation. Its competitive payout structure may allow retirees to keep more assets invested, supporting long-term growth over what could be a retirement lasting 30 to 40 years.
“The beauty of our approach lies in making the complex simple. We have designed our lifetime income solutions to be straightforward and low-cost for plan sponsors to implement and intuitive for participants to understand, while sophisticated mechanics work behind the scenes,” TIAA’s Narcisse said. “This commitment to elegant simplicity is resonating strongly in the marketplace—we are seeing accelerating adoption rates from plan sponsors and earning buy ratings from consultants who recognize the value proposition for plan participants.”
SEE ALSO:
• ‘Bobby Bonilla Day’ Enhanced This Year by New Short Film from TIAA and Nuveen
• TIAA, Nuveen Reach 1M Accounts for Target-Date Lifetime Income Series
• Transamerica Launches Brand Revamp
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
