Provides workers access to expanded fund options and advice platform
New York, May 25, 2011
TIAA-CREF today announced its selection by the City of Shoreline as the sole record keeper for its 457(b) and 401(a) retirement plans. Shoreline is a city in Washington State, about 10 miles outside Seattle and home to approximately 53,000 residents.
Under the new agreement, funds previously managed by Shoreline’s previous administrator will now be managed by TIAA-CREF beginning on June 1. Shoreline offers workers a 401(a) deferred compensation plan as well as a 457(b) supplemental plan for retirement savings.
“Following a rigorous selection process, TIAA-CREF was selected as the new provider of our retirement plans due to the depth and breadth of services they will provide,” said Julie Underwood, Shoreline City Manager. “They not only demonstrated a true understanding of our participants’ financial needs, but stressed the importance of financial advice – a tool that will help our employees better save for retirement.”
Under the agreement, Shoreline plan participants will receive the following services from TIAA-CREF:
“We appreciate the opportunity to serve the City of Shoreline and its employees to help them achieve their financial goals,” said Richard Hiller, Vice President, Government Market, for TIAA-CREF. “This agreement further establishes TIAA-CREF as a valued provider of retirement plans in the municipal market, and we’re enthusiastic about showing other municipalities the value TIAA-CREF can add.”
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $466 billion in combined assets under management (as of 3/31/11) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
Jeannine DeFoe, TIAA-CREF
email@example.com, 212 913-3501 Cell: 917 837-2094
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa-cref.org for details.
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY.
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