Participants gain expanded investment options, access to TIAA-CREF financial education and advice
New York, NY, January 9 – The Brooklyn Hospital Center has chosen TIAA-CREF to manage the hospital’s retirement plan, giving employees access to an expanded menu of investment options, financial education and advice.
TIAA-CREF, the not-for-profit retirement plan market leader, as part of the sole recordkeeping agreement will now manage the hospital’s 403(b) defined contribution retirement plan. The plan will feature a broad range of investment choices developed specifically for The Brooklyn Hospital Center employees.
“TIAA-CREF was the right partner for us because of their investment capabilities, track record of historical performance and low expense ratios1,” said John Lasky, Senior Vice President of Human Resources for The Brooklyn Hospital Center. “Their offering was the best for our retirement plan services.”
“We’re providing the education and personalized advice to help the employees of The Brooklyn Hospital Center manage their changing financial needs,” said Michael Noone, Managing Director of Institutional Relationships for TIAA-CREF.
Employees can now invest in mutual funds from TIAA-CREF as well as other providers. They will also have access to TIAA-CREF annuities, which can help provide guaranteed lifetime income in retirement.2 An interactive, customized website provides plan details and account information to plan participants. TIAA-CREF took over the plan in November.
“We’re leveraging our expertise in this market to help health care providers create a secure retirement for their employees,” said Kevin Nazworth, Vice President, health care market for TIAA-CREF.
TIAA-CREF (www.tiaa-cref.org ) is a national financial services organization with $440 billion in combined assets under management (as of 9/30/11) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
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.
About The Brooklyn Hospital Center
Founded as the borough’s first voluntary hospital, The Brooklyn Hospital Center (TBHC) has been keeping Brooklyn healthy since 1845. Today, it is a 464-bed acute care teaching hospital, offering primary and specialized medical care, sophisticated diagnostic and therapeutic services, cutting-edge technology, and specialized surgery to nearly 300,000 patients annually. Located in the heart of Brooklyn’s downtown revitalization district, TBHC is a member of the New York-Presbyterian Healthcare System and the Brooklyn academic and clinical affiliate of Weill Medical College of Cornell University. TBHC has fully accredited, independent residency programs in Emergency Medicine, Internal Medicine, General Surgery, Obstetrics and Gynecology, Pediatrics, Family Medicine, General Dentistry and Oral and Maxillofacial Surgery, and trains more than 250 physicians each year.
Jeannine DeFoe, TIAA-CREF
Catherine Derr, The Brooklyn Hospital Center
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.
©2012 Teachers Insurance and Annuity Association-College Retirement Equities Fund, New York, NY 10017
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161, or go to www.tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.
The testimonial provided above may not be representative of the experience of other TIAA-CREF institutional clients or participants, and is not indicative of future performance or success.
1TIAA-CREF low relative expense ratios are based on data from Morningstar Direct (September 2011), based on Morningstar expense comparisons by category. This applies to our variable annuity and mutual fund expense ratios.
2Guaranteed lifetime income is subject to TIAA’s claims-paying ability.