TIAA: Introducing a New Custom Default Solution, TIAA RetirePlus

Originally Published by TIAA.

TIAA, the largest provider in the nonprofit retirement market, announced TIAA RetirePlus, a new addition to their suite of Custom Default Solutions that offers predefined asset class models, easing implementation.


“A Century ago, TIAA was founded on the need for secure retirement income,” said Dan O’Toole, Senior Managing Director of Institutional Investments & Research at TIAA. “That need has not diminished, so we continue to bring new solutions to address the needs of our clients. This latest innovation makes it simple for plan sponsors and consultants to create models that can help improve participant outcomes and includes guaranteed income investments that provide certainty of income within the familiar target-date like structure.”

Mesirow Financial designed the strategy and asset class allocations. The plan sponsor, as fiduciary, selects the investment options for their models on their own or with advice from their co-fiduciary investment advisor, or can delegate selection to their own investment manager with full discretion authority.

TIAA’s Custom Default Solutions program lets plan sponsors and their consultants build model portfolios specific to the demographics of their plan. They provide more control over investment choices and costs and are designed to be eligible to be selected as Qualified Default Investment Alternatives (QDIA). To learn more, visit https://www.tiaa.org/public/consultants/partner-pl….

“These solutions give plan sponsors and their advisors flexibility and control over perhaps the most important investment alternative in their plans the default,” said Mr. O’Toole. “By giving workers better access to lifetime income options in their retirement plans, plan sponsors can offer protection against retirees outliving their savings and help provide their employees with the secure retirement they deserve.”

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