Company Stats and Facts
Facts about the company.
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 $440.7 billion in combined assets under management (as of 9/30/11).
Products and Services
TIAA-CREF offers a range of investment products and services to help investors achieve lifetime financial security.
- TIAA-CREF's retirement plans provide participating institutions and individuals with a range of options to help meet their retirement plan administration and savings goals as well as income and wealth protection needs. They include variable annuities, mutual funds, tax-deferred and after-tax annuities, IRAs and brokerage accounts
- 96% of TIAA-CREF’s funds and variable annuity accounts received a Morningstar overall rating of 3, 4 or 5 stars across all asset classes (66% – 3 stars, 25% – 4 stars, 5% – 5 stars)1
- We offer trusted, objective advice and personalized retirement planning tailored to individual and diverse goals and at varying life stages
- TIAA-CREF Asset Management serves institutional investors and intermediaries, including registered investment advisors, investment-only defined contribution platforms and broker/dealers. Investment options cover a wide spectrum of asset classes from traditional equity and fixed-income to real estate and other specialized portfolios and are offered through multiple investment vehicles.
- TIAA is among the highest-rated insurance companies in the United States. TIAA is one of only three insurance groups in the United States to hold the highest ratings currently awarded from all four leading independent insurance industry ratings agencies.2
- TIAA-CREF is a global leader in socially responsible investing and advocating for sound governing practices at companies in which it invests. The CREF Social Choice Account is a balanced variable annuity account with more than $10.7 billion in assets (as of 6/30/11).
In all it does, TIAA-CREF strives to uphold its historic mission: helping to meet the financial needs of the institutions and individuals we serve on the best terms practicable.
Origins of TIAA and CREF
In 1918, Andrew Carnegie and 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 7,500 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 70 local offices nationwide
1 Based on Morningstar data for share classes (not funds) that have completed one calendar year of performance. 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 September 30, 2011. Current rankings may be higher or lower on a monthly basis. Past performance cannot guarantee future results.
2 For its stability, claims-paying ability and overall financial strength, TIAA currently holds the following ratings: A.M. Best (A++ as of 7/11), Fitch (AAA as of 2/12), Moody's Investors Service (Aaa as of 12/11) and Standard & Poor's (AA+ as of 8/11). Per S&P criteria, the downgrade of US 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 claims and do not apply to variable annuities, mutual funds or any other product or service not fully backed by TIAA's claims-paying ability
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature 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.
Investment products, insurance, and annuity products are: NOT FDIC insured, are not bank guaranteed, may lose value, are not deposits, are not insured by any federal government agency, are not a condition to any service or activity.