TIAA’s RetirePlus Series of customizable target date funds (TDFs) has surpassed $10 billion in assets, with year over year growth of 45%, thanks to “dozens of new institutional clients, additional individual client contributions, and consistent investment performance,” TIAA announced this week.
“Over 40% of all US households are expected to run out of money in retirement with an average shortfall projected at $100,000 per household,” said Bill Griesser, head of Institutional Managed Solutions at TIAA, in a release.
“TIAA RetirePlus Series helps plan sponsors better prepare their employees for a confident retirement by allowing them to create a ‘personal pension.’ It brings the lifetime income provisions of the Secure Act into practical reality for plan participants.”
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