TCG IS FIRST OFF-PLATFORM RETIREMENT PLAN PROVIDER OF TIAA'S SECURE INCOME ACCOUNT

A TIAA lifetime income retirement solution is now available for all TCG plan sponsor clients

AUSTIN, Texas, Oct. 27, 2022 /PRNewswire/ -- TCG, a HUB International company (TCG), will offer an annuity from the Teachers Insurance and Annuity Association of America (TIAA), the first time TIAA has offered a version of its guaranteed lifetime income solution outside its own record-keeping platform. TIAA's Secure Income Account (SIA) is now available as a retirement investment solution to all plan sponsor clients TCG serves.

"Until today TIAA's annuity option has only been available to those retirement plans using TIAA's recordkeeping platform, but it is now available to any of our clients or plan sponsors using the TCG platform," said John Pesce, Co-Founder of TCG and Area President for HUB International.  "TIAA's SIA allows retirees to continue receiving a paycheck post career enabling employees to better benefit from their retirement investment." Additionally, Joe DeNoyior, President of HUB Retirement and Wealth Management (RPW), is very supportive, "Creating guaranteed income as part of a retirement plan is gaining momentum, and important in helping employees save for a secure financial future."

More employers are recognizing the benefits of helping people create guaranteed income as part of a retirement plan. TIAA's SIA provides a guaranteed fixed annuity with steady, reliable income payments to help protect against market downturns. This also helps protect savings in retirement and provides flexibility to convert savings into lifetime income payments. Serving as an investment choice within retirement plans, SIAs help offset gaps traditional retirement plans may have and helps resolve issues in the wealth decumulation process by providing a steady income post career. TCG retirement advisors can now offer this option to their clients with 401(k) and 457(b) plans.

"Hard-working people who have been great stewards of their 401k savings often still need help managing to and through retirement so that their savings 'pays' them for the next 30 years," said Colbert Narcisse, Chief Product and Business Development Officer at TIAA. "By offering SIA, TCG is helping ensure its clients can create secure retirements for their employees through guaranteed income."

Today's announcement builds on TCG's 15-year relationship with TIAA, the nation's No. 1 provider of guaranteed income solutions to people working in higher education and other service professions. TCG's first clients to adopt this offering is the Texas-based national retirement cooperative sponsored by ESC Region 10, impacting $800 million across more than 150 member organizations representing 400,000 lives, including educators across Texas, California and the Northeast.

Headquartered in Austin, Texas, TCG is an investment and consulting firm that provides financial wellness solutions including wealth management, retirement planning, institutional advisory and more. TCG is a recordkeeper and administrator for qualified retirement plans including 403(b), 401(k), 457(b) and non-qualified plans. HUB International Limited (Hub) acquired the operating subsidiaries of TCG Group Holdings, LLP d/b/a Trusted Capital Group (TCG) in July 2021.

Hub Retirement and Private Wealth ("RPW") offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families. Employees of Hub International offer securities through partner Broker Dealers not affiliated with Hub. Employees of Hub provide advisory services through both affiliated and unaffiliated Registered Investment Advisors (RIA). Global Retirement Partners, LLC, Millennium Advisory Services, Inc, TCG Advisors, Hub Investment Advisors, LLC, HUB International Investment Advisory Services, Inc., and Sheridan Road Advisors, LLC are wholly owned subsidiaries of Hub International. Learn more about Hub Retirement and Private Wealth.

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 provider, paid more than $3.6 billion to retired clients in 2020 and has nearly $1.2 trillion in assets under management (as of 9/30/2022). For more information, visit tiaa.org.

SOURCE TCG, a HUB International company

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