TIAA Separate Account VA-3 has made important updates to its variable annuity contracts, which could significantly impact its clients and the broader investment landscape. The changes include the introduction of a new pricing level, a reduction in maximum annual fund expenses, and the addition of new funds to its offerings.

Effective November 2, 2026, TIAA Separate Account VA-3 will introduce a new pricing level, Level P, designed for plans with assets under administration of $5 billion or more. This new level features the lowest contract expenses available, reflecting TIAA's commitment to providing competitive pricing for large plans.

Additionally, the maximum annual fund expenses have been reduced from 1.10% to 1.06%. This reduction is part of TIAA's ongoing efforts to enhance value for its clients and make its products more attractive in a competitive market.

Two new funds, the Cohen & Steers Institutional Realty Shares and the Vanguard International Core Stock Funds, will also be added to the platform, providing clients with more investment options. However, TIAA has announced the temporary suspension of the Income Test Drive, effective December 31, 2026, which will halt new elections and withdrawal payments for contract owners under this program.

Background

TIAA Separate Account VA-3 is an investment entity based in New York, incorporated under the state of New York. It operates under the Central Index Key (CIK) number 0001364783 and is known for offering variable flexible premium deferred variable annuity contracts. The company has been active in filing various forms with the SEC, including recent filings on October 30, 2026, and October 16, 2026.

What the Filing Says

The recent filing states, "Effective November 2, 2026, a new pricing level, Level P, is being added to the Contract." It also mentions the merger of Teachers Advisors, LLC into Nuveen Asset Management, LLC, and highlights the reduction of maximum annual fund expenses.

Impact

These updates may affect various stakeholders, including contract owners who will benefit from lower fees and additional fund options. The changes also reflect TIAA's strategic direction to remain competitive in the investment management sector, particularly against other firms offering similar products.

What's Next

The filing does not say what happens next.