Provides local advice, education and ease of administration to organizations with less than $20 million in assets. Emerging institutions now have access to many of the same features and services of larger institutions
New York, October 17, 2011 – TIAA-CREF announced today a new retirement plan solution, TIAA-CREF Connections, designed for not-for-profit institutions with $1 million to $20 million in retirement plan assets, featuring a comprehensive package of administrative services with emphasis on local, customized advice and education.
The new solution builds on TIAA-CREF’s leadership in the not-for-profit market and provides emerging institutions a retirement plan with many of the same attributes found in a larger plan while also offering ease of administration and a cost-effective way to meet compliance and regulatory requirements. It also reflects TIAA-CREF’s belief that financial advice plays a critical role in building retirement security. In 2010, approximately two-thirds of participants who used TIAA-CREF’s objective advice offering took action and choose to save more, revisit their portfolio allocation or both.
“Not-for-profit institutions of all sizes need practical, effective and efficient retirement plan solutions,” said John Hays, Managing Director, Not-for-Profit Institutions for TIAA-CREF. “Plan sponsors at emerging institutions face the very same demographic shifts and pressures brought about by regulatory changes that are altering the retirement plan landscape. Connections provides these institutions with a cost-effective plan way to help their employees build retirement security.”
Through TIAA-CREF’s Connections solution, institutions may choose to work with TIAA-CREF directly for plan services and education or, for a small fee, work with a local registered investment advisor (RIA) to provide individualized participant advice. TIAA-CREF, in partnership with third-party administrators, retirement plan advisors and other finance professionals, will offer institutions, investment choice and regulatory and fiduciary support. Institutions will have the flexibility to select investment choices that can be customized as well as choose from a wide array of TIAA-CREF and third-party investment manager options.
“We’re providing plan sponsors with the services they need including access to local advisors and participant communication, along with the necessary regulatory and compliance services,” said Robert Kissel, Director, Emerging Client Markets for TIAA-CREF. “Growing not-for-profit institutions can now have the look and feel of a larger plan along with ready-made or individual plan options that give participants every opportunity to build retirement security.”
More information about Connections is available here.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $469 billion in combined assets under management (6/30/11) and the leading provider of retirement services in the academic, research, medical and cultural fields.
Jeannine DeFoe, TIAA-CREF
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
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