This issue describes the Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) life-annuity income options and traces the trends in their selection over a 17-year period, 1978-1994. Other income-related choices at or before retirement are also explored. The article emphasizes that participants in defined contribution plans make key financial decisions about their accumulations throughout their working years and that, when they retire, their choice of a retirement income option will determine the level of their life-income benefits. The article points out that income choices at retirement should be based on three basic tests that determine (1) whether the retirement income will last as long as it is needed, (2) whether it will provide for a survivor in case the retiree dies first, and (3) whether it will be adequate in amount. The available options are listed as the one-and two-life annuity options with and without guaranteed periods; and, for the two-life option, with and without survivor benefits. Other considerations include option selections by size of accumulation, age at retirement, minimum distribution option, the interest payment retirement option, transfer payout annuities, and other factors. (CK)