TIAA Applauds Passage of "SECURE 2.0" Retirement Legislation

NEW YORK, Dec. 23, 2022 /PRNewswire/ -- TIAA issued the following statement from Kourtney Gibson, Chief Institutional Client Officer, upon passage of retirement provisions in SECURE 2.0:

"TIAA commends Congress for uniting on this vital legislation to improve Americans' retirement outcomes and make a financially secure future more accessible for all. Access to retirement plans and opportunities to save more during working years are critical to delivering retirement security for millions of people. SECURE 2.0 will help strengthen Americans' retirement readiness through provisions that will reduce barriers to annuitization, increase access to workplace retirement plans and improve opportunities to save for retirement. 

"This significant, bipartisan progress would not have been possible without the steadfast leadership and vision of dedicated retirement champions in the House and the Senate. We look forward to working with Congress in the new year and building upon these important, foundational reforms to make a financially secure retirement attainable for all."

About TIAA

TIAA is a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. It is the #1 not-for-profit retirement market provider¹, paid more than $6.4 billion in lifetime income to retired clients in 2021 and has $1.2 trillion in assets under management (as of 9/30/2022)².

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1. As of July 21, 2022. Based on data in PLANSPONSOR's 403(b) 2022 DC Recordkeeping Survey, combined 457 and 403(b) data.
2. As of September 30, 2022, assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,179 billion.

©2022 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

SOURCE TIAA