Transamerica, T. Rowe Price and TIAA Expand Access to Lifetime Income for Retirement Plan Investors

T. Rowe Price IncomeSelect® by Transamerica integrates investment management and guaranteed income within a single retirement plan solution

BALTIMORE, June 2, 2026 /PRNewswire/ -- Transamerica today announced a collaboration with T. Rowe Price, a global leader in investment management and retirement solutions, and TIAA, a market-leading retirement company with more than a century of experience delivering guaranteed income, to expand access to guaranteed lifetime income for retirement plan participants through T. Rowe Price IncomeSelect® by Transamerica. By combining target-date investing expertise with guaranteed income, the firms are focused on helping participants create more predictable financial outcomes in retirement.

"Retirement planning increasingly requires a thoughtful approach to both saving and income," said Jason Frain, Head of Retirement Solutions at Transamerica. "By working with T. Rowe Price and TIAA, we are expanding access to lifetime income in a way that is designed to fit naturally within employer-sponsored retirement plans."

The new offering combines Transamerica's retirement plan capabilities and collective investment trust ("CIT") acumen, T. Rowe Price's experience in managing target-date strategies, including the Morningstar Gold-rated T. Rowe Price Retirement and T. Rowe Price Retirement Blend strategies, and TIAA's long history of providing guaranteed income through an allocation to its fixed annuity, the TIAA Secure Income Account. Together, they aim to address one of the most significant challenges facing retirement savers today: converting savings into dependable income that can last throughout retirement.

"As the largest active manager of target-date portfolios globally, T. Rowe Price is committed to advancing retirement innovation and driving better outcomes for clients," said Kim Zook, Head of U.S. Intermediaries Retirement at T. Rowe Price. "We are delighted to join with Transamerica and TIAA to provide retirement savers with a powerful solution that leverages decades of demonstrated investment research with the ability to deliver guaranteed income."

This unique offering is specifically tailored for eligible retirement plans and addresses key challenges facing retirement plan participants, including managing longevity risk and navigating the transition from saving to income, while supporting advisors and plan sponsors in offering integrated retirement income solutions. By integrating guaranteed income alongside professionally managed investments within a flexible CIT structure, it aims to support long-term financial security and helps turn decades of savings into a more reliable source of income in retirement.

"For more than a century, TIAA has helped millions of nonprofit employees convert a lifetime of hard work into income they can never outlive. But we have always believed that this kind of income certainty should be available to all Americans," said Colbert Narcisse, Chief Product Officer and Head of Insurance Solutions & New Markets at TIAA. "This collaboration is another step toward a future where every American saver has a clear pathway to retirement income they can count on for life."

The firms believe that expanding access to lifetime income within retirement plans can play an important role in helping more Americans prepare for retirement.

Important Information

The. T. Rowe Price IncomeSelect by Transamerica funds ("Funds") are collective investment trusts established and maintained by Transamerica Trust Company, a wholly owned subsidiary of Transamerica. Transamerica Trust Company exercises ultimate fiduciary authority over the management of, and investments made in, the Funds. The Funds are not mutual funds or "investment companies" and the Funds and its units are exempt from registration with the Securities and Exchange Commission under the Investment Company Act of 1940, and the Securities Act of 1933, respectively. Pursuant to these exemptions, investment in the Funds is limited to eligible tax-qualified retirement plans and their participants.

The Funds are target date funds within the Transamerica Retirement Solutions Collective Trust ("Trust"). Transamerica Trust Company ("Trustee"), as the trustee of the Trust, has retained Mesirow Financial Investment Management, Inc. ("Mesirow"), an investment advisor registered with the U.S. Securities and Exchange Commission ("SEC"), to provide investment advice to the Funds. Additionally, advisory services related to the creation and maintenance of glidepath for the Funds are provided by T. Rowe Price Investment Management, Inc., which is an investment advisor registered with the SEC. The Funds are not required to and do not file a prospectus or registration statement with the SEC. However, the Trust has made available a Disclosure Memorandum that contains additional information that should be carefully considered before choosing a Fund, including information about each Fund's investment objective, strategies, fees and expenses, and risks. The Trustee reserves the right to reject or approve each investor in its sole discretion.

TIAA  Secure Income Account is a fixed annuity product issued through this contract by Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY, 10017: Form series including but not limited to: TIAA-UQDIA-002-K, TIAA-STDFA-001-NUV and related state specific versions. Not all contracts are available in all states or currently issued.

Annuity contracts may contain terms for keeping them in force. TIAA can provide you with costs and complete details. The TIAA Secure Income Account is a guaranteed insurance contract and not an investment for federal securities law purposes.

Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability. Past performance is no guarantee of future results. Guarantees of fixed monthly payments are only associated with fixed annuities.

The ability to annuitize is subject to plan rules. Converting/Exchanging some or all of your savings to income benefits (referred to as "annuitization") is a permanent decision. Once income benefit payments have begun, you are unable to change to another option.

About T. Rowe Price

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.83 trillion in client assets as of April 30, 2026, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

About TIAA

TIAA aims to provide more secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. It paid more than $6.17 billion in lifetime income to retired clients in 2025^[i] and has nearly $1.5 trillion in assets under management.^[ii]

About Transamerica

Transamerica believes everyone deserves the opportunity to live their best life. It's what inspires us to be a champion for helping everyday Americans thrive. As a leading provider of life insurance, retirement, and investment solutions for more than 10 million Americans, we help people make the most of what's important to them.

Supporting our customers' financial futures with innovative products and services has been our mission for more than 120 years. In 2025, Transamerica fulfilled its promises to customers, paying more than $52.6 billion in insurance, retirement, and annuity claims and benefits, including return of customer-paid annuity premiums.

Transamerica is part of the Aegon group of companies. Aegon is an international financial services holding company. Transamerica is not affiliated with TIAA, T. Rowe Price nor its subsidiaries or affiliates.

For more information, visit www.transamerica.com.

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^[i] As of December 31, 2025, TIAA paid out $6.17 billion in total annuity income. This figure represents all annuity income, including guaranteed and additional amounts, for all of TIAA's annuity products.

^[ii] As of March 31, 2026, assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,498 billion.

SOURCE Transamerica