Two top-rated retirement income mutual funds are the TIAA-CREF Lifecycle Retirement Income Fund and the Vanguard Target Retirement Income Fund as of 2015, reports U.S. News & World Report. Retirement income mutual funds build income for retirees by investing in a mix of cash, stocks and bonds.
The TIAA-CREF fund is the number one ranked retirement income mutual fund, according to U.S. News and World Report. The Vanguard Target fund ranks second based on the report issued by the publication. U.S. News polled leading mutual fund researchers and analyzed their ratings of 41 retirement income funds where the goal is to build income for long-term investors.