TIAA, Vanguard to Offer Target-Date Lifetime Income CIT Series
The product embeds the TIAA Secure Income Account, a fixed annuity, in a target-date fund.
Vanguard and TIAA announced Wednesday the launch of a target-date collective investment trust series, Target Retirement Lifetime Income Trusts. The product embeds the TIAA Secure Income Account, a fixed annuity debuted by TIAA in January 2022, in a target-date fund.
The series marks the industry’s latest push to offer participants an alternative form of a steady paycheck for life.
“When you have over 90% of workers saying they want the ability to convert their savings into guaranteed lifetime income, and nine out of 10 plan sponsors recognizing their employees need income security beyond Social Security, you’re not responding to a trend,” said Thasunda Brown Duckett, president and CEO of TIAA, in a statement. “You’re standing at the precipice of a paradigm shift.”
The trusts will become available during the second half of 2026, according to a statement from Colbert Narcisse, TIAA’s chief product officer and head of insurance solutions and new markets.
“The disappearance of pensions left a massive gap in retirement security,” Narcisse said in a statement. “This collaboration fills that gap by embedding lifetime income right where 100 million Americans are already saving.”
A September report from Sway Research revealed that combined assets in U.S. mutual fund and CIT target-date products rose 10% in the first half of 2025, reaching $4.37 trillion on June 30. As of July, assets in TIAA’s suite of lifetime income target-date products surpassed $60 billion in assets under management.