No it doesn't necessarily means that the trans needs to be rebuilt. The TCC is the "torque converter clutch." Its engagement is probably controlled by a solenoid and the circuit for that solenoid or the solenoid itself has a problem.
You'll likely need a good trans shop to look at it to isolate the problem and deal with it. "Good" trans shop should be an independent local trans specialist - not a national chain shop.
There is a good chance that the problem is minor. I cleared up a similar problem once on a Ford Escort just by doing a pan/filter service a couple of times in quick succession.
So if your trans is due for service (pan/filter every 30K) maybe you should do it and see what happens. If you don't do things like that yourself - take it to a trans shop, ask them to check it out & service it.