Home > United Kingdom Insurance > Tiaa – Cref Insurance

Tiaa – Cref Insurance

January 14th, 2016 Leave a comment Go to comments

TIAA – CREF INSURANCE


By : Aries Kurniawan

 

History of Insurance TIAA – CREF

cost of life insurance

cost of life insurance

In 1918 , Andrew Carnegie and his Foundation, Carnegie for the Advancement of Teaching , under the leadership of Henry S. Pritchett , creating Teachers Insurance and Annuity Association of America (TIAA), a fully funded system of pensions for professors . the Funding was provided by a combination of grants from foundations and the Carnegie Corporation of New York , as well as ongoing contributions from participating institutions and individuals .

In 1921, the policyholder nominated as Professor Samuel M. Lindsay from Columbia University to represent them in the supervisory board of TIAA. The Representation on the board of TIAA policyholders consistent with the wishes of the Carnegie Foundation that educators assume a role in running the organization. Conservative investment TIAA allowed to survive until 1929 when it occured the stock market crash and the Great Depression.

In 1933, Albert Einstein became participants, the fact that TIAA – CREF is then used in advertising campaigns and well-known in 2001.

After World War II , in response to rising inflation and prolong life expectancy , and a dramatic expansion of the education sector with the GI Bill , TIAA recognized the need for participants to invest in equity funds in order to diversify their retirement . In 1952, TIAA created the College Retirement Equities Fund CREF named, variable annuities, for that purpose .

On June 15, 2007, TIAA became one of the first U.S. companies to voluntarily adopt, and the first to apply, policyholders of voting advisor on executive compensation policy.

On June 28, 2007, the California State Teachers Retirement System named CAlSTRS announced its selection of TIAA – CREF as a single investment provider for supplemental retirement savings program. CalSTRS is the second largest public pension plan and the largest teachers’ retirement fund in the United States.

On August 12, 2008, TIAA – CREF announced the opening of a new office in London. The office will be managed by local investment professionals who will expand the activities of TIAA – CREF Global Real Estate in England and Europe.

On November 16, 2009, TIAA – CREF signed an agreement with a third-party to rent the 17th floor, 18, and 27 from the New York headquarters building at 730 Third Avenue.

On September 14, 2012, TIAA – CREF bought Festival Place, a shopping center in Basingstoke, England for £ 280 million. Then On May 16, 2013 , TIAA – CREF to buy 50 % stake in the Grand Canal Shoppes , including the Shoppes at the Palazzo , Las Vegas for net proceeds of $ 410 million USD as part of a new joint venture with General Growth Properties Inc. GGP , and will continue to oversee the management of the project assets .

That was the history of the insurance company TIAA – CREF , which is located in NEW YORK state , the insurance company nowadays has become a leading financial services provider , it is one of the members of the three insurance groups in the U.S. which holding the highest rank , the current supplied from all four leading independent insurance industry ratings agencies . TIAA – CREF is a subsidiary wholly owned by Teachers Insurance and Annuity Association (TIAA). There is no guarantee that current ratings will be maintained. Assessment is the company’s ability to meet obligations policyholders, the claim does not valid for variable annuities, mutual funds or any other product or service is not fully supported by TIAA – CREF ability to pay Life.
Teachers Insurance and Annuity Association – University Retirement Equities Fund ( TIAA – CREF ) is a Fortune 100 financial services organization that is the leading retirement provider for people who work on the research , medical and academic culture . TIAA – CREF serves 3.7 million active and retired employees participating at more than 15,000 institutions and has $ 487 billion in combined assets management (as of March 31, 2012).

Many TIAA – CREF operates on a nonprofit basis, with surplus returned to participants. TIAA – CREF is headquartered in New York City in the United States and has major offices in Denver, Colorado, Charlotte, North Carolina, and Dallas, Texas , as well as seventy local offices across the United States . In 2013, TIAA – CREF is ranked 97 in the Fortune 500 list of largest companies in America.

TIAA – CREF was created to replace the free retirement system provided by the Carnegie Corporation professors. When the original funding proved inadequate, TIAA created in the Act New York State Legislature in 1918, as a stock life insurance company for the purpose of providing retirement income for professors, through a guaranteed fixed premium deferred annuity contracts. Then in 1952, CREF was created to allow faculty to invest in the stock market through the nation’s first variable annuity. Its main business continues to be the administration of pension and annuity products. In recent years the company expanded capabilities and consulting services and expand the investment choices of clients. Internally it has been focused on the development of IT infrastructure and customer support leadership development.

At the retail level , TIAA – CREF offers Traditional and Rollover Account Individual Retirement , Roth IRAs , mutual funds , annuities and life insurance after tax ( through TIAA – CREF Life ) , 529 college savings plans , Coverdell Education Savings , financial planning , and trust investment management ( through TIAA – CREF Trust Company , FSB ) . These investments are offered to the general public, the company is now no longer limited to the academic community.

On the institutional side, TIAA – CREF Asset Management serves institutional investors and intermediaries, including registered investment advisors, investment only defined contribution platform and broker / dealers. In addition, TIAA – CREF is a Fortune 100 financial services organization with $ 481 billion in assets under management (as of 30/06/12) . The company is a leader in helping those in the academic, medical, cultural, and governmental and research fields plan for retirement and other goals in life. More than 3.7 million people trust us to help support their financial well-settled. In addition, the insurance company now provides various products and services (including retirement plans, IRAs, life insurance, brokerage services, mutual funds) must adapt to the needs of the client. Hopefully, this information may be useful to increase knowledge and, for those of you who want to know more details about the company, you can contact directly at:

TIAA – CREF Contact Press
Chad Peterson
888 200 4062, media@tiaa-cref.org
AARP Press Contact
David Allen
202 434 2560 , media@aarp.org , @ AARPMedia

 

Check out my other information article on : Prudential Financial Car Insurance

Check out my other information on :

  1. No comments yet.
  1. No trackbacks yet.
You must be logged in to post a comment.