In order to ensure TIAA upholds its core mission of serving our clients and participants, a structure of accountability was established in the early days of the organization and remains intact to this day.
For TIAA's first twenty years, its corporate stock was owned by Carnegie Corporation of New York, which provided TIAA's $1 million endowment grant.
Due to rapid growth in the 1930s, Carnegie Corporation and TIAA agreed that ownership of TIAA should be transferred to a new nonprofit company. In 1938, Carnegie Corporation turned over ownership of TIAA to the new company, named Trustees of T.I.A.A. Stock.
In 1989, Trustees of T.I.A.A. Stock was renamed TIAA Board of Overseers.
The TIAA president and chief executive officer is a member of the Board of Overseers.
The TIAA Board of Trustees comprises 13 individuals who oversee the management of TIAA. They are primarily independent trustees, that is, “outside” individuals who are not executive officers or former employees of TIAA or CREF.
Trustees on the operating boards work largely through committees, which meet frequently and shape TIAA and CREF policies. They oversee operations and propose actions to each full board. Memberships below are effective May 17, 2012.
* Chairman of the TIAA Board
** Members of the TIAA Real Estate Account Special Subcommittee
*** For purpose of membership on TIAA Real Estate Account Special Subcommittee only