The TIAA-CREF: Ensuring Teachers Have the Future They Deserve

The TIAA-CREF, or the Teachers Insurance and Annuity Association – College Retirement Equities Fund, I a Fortune 100 financial services institution functioning as the leading retirement services provider for people in the academe and related fields. The institution has over 3.5 million active and retired employees in its fold and boasts of nearly $490 billion in combined assets being managed as of March 2012. The TIAA-CREF operates out of a headquarters in New York City but has major offices in Texas, North Carolina, and Colorado amongst other states.

The TIAA-CREF was developed as a replacement for the free pensions system offered by the Carnegie Foundation for the Advancement of Teaching. When the original fund was deemed inadequate, the TIAA-CREF stepped in as a stock life insurance company that would provide retirement income to participants. One of the most recent purchases for the organization is a 50% stake in the Grand Canal Shoppes with net proceeds of $410 million.

Retirement for Teachers

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 87^th 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.