The Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF) is a non-profit investment company providing retirement funds for individuals in specific fields such as: academic, research, medical and cultural. The company, listed on the Fortune 100 Financial Service Company list, currently serves 3.7 million employees and manages $453 billion in assets. While you may be aware of TIAA-CREF, as a teacher or work in one of the other fields the company serves, chances are the average individual has never even heard of them.
TIAA-CREF prides itself on selecting stocks and mutual funds that exhibit steady growth rather than riskier investments that may be up one day and down the next. It allows individuals a certain amount of control over their investment and allow a multitude of investing options, such as 401(k) and 403(b) accounts. The company, which got its start in 1918, is headquartered in New York City, currently employs more than 7,000 individuals in over 70 offices across the country.
In 2011, TIAA-CREF ranked 87th on Fortune magazine’s list of the 500 largest corporations in America indicating it is a fairly large, if widely unknown, corporation. Since teachers, researchers and other employees working in these fields typically do not earn high-dollar salaries, it is great to see there is a company dedicated to helping them plan and save for retirement. Since the company allows individuals to control their investments, it allows those who can afford to be a bit riskier go for a higher return on their investment while allowing others to maintain slow and steady growth on their investment portfolio.
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