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Not-for-profit employees on track for retirement saving, TIAA-CREF says

TIAA-CREF's index research reveals that some employees are doing well on income replacement in their retirement saving. Here are the numbers.

By Marlene Y. Satter | Updated on October 13, 2015
University of Colorado campus (photo: AP)

Research from a TIAA-CREF index indicates that not-for-profit employees are on track to replace a surprising amount of their preretirement income in retirement—90 percent.

Data from the Retirement Income Index, which is based on a study of 500,000 employees actively contributing to TIAA-CREF retirement plans as of December 31, 2014, found that participants’ average plan account balance was approximately $177,000 (as of that date), which is nearly double the industry average of $91,300 (as of the same date).

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