And I concur with Sy and Ray's last two comments.

I do not depend on unannuitized portfolio for retirement income.  However, since the unannuitized portfolio is largely tax-deferred UNKLE will start to get his RMD ahead of beneficiaries.

On the other hand, I have participated in the unique stability of TIAA Traditional from the moment I began my university appointment in 1968 (40 years qualifies as "long-term" in my mini-universe), and I've owned TREA since shortly after it was opened--not exactly long-term relative to TIAA Traditional.

I'm not a one-portfolio guy, though the guvmint will eventually say, "Oh, yes, you are!"  :-)  Bob U.