Research from a TIAA-CREF index indicates thatnot-for-profit employees are on track to replace a surprisingamount of their preretirement income in retirement—90 percent.
Data from the Retirement Income Index, which is based on a studyof 500,000 employees actively contributing to TIAA-CREF retirementplans as of December 31, 2014, found that participants’ averageplan account balance was approximately $177,000 (as of that date),which is nearly double the industry average of $91,300 (as of thesame date).
More important is income replacement—how much income aparticipant will have in retirement, compared with his or herworking income, and whether it’s adequate to pay the participant’sessential living expenses.
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