TIAA-CREF is a Fortune 100 financial services organization that is the leading retirement provider for people who work in the academic, research, medical and cultural fields. TIAA-CREF serves 3.7 million active and retired employees participating at more than 15,000 institutions and has $487 billion in assets under management (as of 3/31/12).
TIAA-CREF is committed to helping our clients make their financial well-being possible. That’s why we provide a range of products and services that we can not only tailor to your needs, but that are also highly regarded in our industry.
In all we do, TIAA-CREF strives to uphold our historic mission: helping to meet the financial needs of the institutions and individuals we serve on the best terms practicable.
In 1918, Andrew Carnegie — through his Carnegie Foundation — established Teachers Insurance and Annuity Association (TIAA), a fully funded system of pensions for professors. Funding was provided by a combination of grants from the foundation and Carnegie Corporation of New York, as well as ongoing contributions from participating institutions and individuals.
After World War II, in reaction to rising inflation and lengthening life expectancies, TIAA recognized the need for its participants to invest in equities in order to diversify their retirement funds. In 1952, TIAA created the College Retirement Equities Fund ("CREF") for that purpose.
TIAA-CREF has more than 7,800 employees, and is headquartered in New York City. The organization has major operations in Charlotte, North Carolina and Denver, Colorado, as well as more than 80 local offices nationwide.
1 Based on Morningstar data for share classes that have completed one calendar year of performance. Current rankings may be higher or lower on a monthly basis. Morningstar is an independent service that rates mutual funds and variable annuities. The top 10% of accounts in an investment category receive five stars, the next 22.5% receive four stars, and the next 35% receive three stars. Morningstar proprietary ratings reflect historical risk-adjusted performance and can change every month. They are calculated from the account’s three-, five- and ten-year average annual returns in excess of 90-day Treasury bill returns with appropriate fee adjustments, and a risk factor that reflects subaccount performance below 90-day T-bill returns. The overall star ratings are Morningstar’s published ratings, which are weighted averages of its three-, five- and ten-year ratings for periods ended March 31, 2012.
2 TIAA-CREF Life Insurance Company (TIAA-CREF Life) is a wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA). For its stability, claims-paying ability and overall financial strength, TIAA currently holds the highest possible ratings from the four leading insurance company rating agencies: A.M. Best (A++ as of 4/12), Fitch (AAA as of 6/12), Moody’s Investors Service (Aaa as of 6/12) and Standard & Poor’s (AA+ as of 5/12). Per S&P criteria, the downgrade of U.S. long-term government debt limits the highest rating of U.S. insurers to AA+ (the second-highest rating available). There is no guarantee that current ratings will be maintained. Ratings represent a company’s ability to meet policyholders’ obligations and do not apply to variable annuities, mutual funds or any other product or service not fully backed by TIAA’s claimspaying ability.