CEO Roger W. Ferguson, Jr. Addresses Shareholders;
Company Announces Election of Trustees
The College Retirement Equities Fund (CREF), an investment company within the TIAA-CREF group of companies with more than $193 billion in assets under management, held its annual meeting today at the Colorado Convention Center in Denver, Colorado. Denver is home to one of TIAA-CREF's major regional offices.
Roger W. Ferguson, Jr., TIAA-CREF Chief Executive Officer, spoke to shareholders, providing updates on the state of the organization, a look into his strategy and vision for the organization since joining as CEO on April 14, and highlights of the past year.
"Over the past few years, you have been witnessing a 90 year-old institution take dramatic steps to help meet your needs," said Mr. Ferguson. "We built a modern recordkeeping system. We developed our objective investment advice offering – praised by Forbes magazine as 'the most extensive personalized workplace advice.' 1 We launched a Wealth Management service that our clients say is truly distinctive. 2 We tripled the number of local offices, revamped our websites, and upgraded our call center technology."
"So in addition to delivering greater flexibility, choice and service, we are more accessible than ever," Mr. Ferguson added. "All to meet the varied and evolving needs of our clients."
Mr. Ferguson continued, "Today we reaffirm our dedication to the individuals and institutions in the nonprofit world, the clients we know best," said Mr. Ferguson. "We will continue to improve service until you regard us as exceptional. We will help you meet your lifetime financial needs with a total package of education and support and investment management and value, backed by top-rated financial strength." 3
In meeting related actions CREF shareholders:
About TIAA-CREF
TIAA-CREF is a national financial services organization with $420 billion in combined assets under management (3/31/08) and a leading provider of retirement services in the academic, research, medical and cultural fields.
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Advisory services are provided by Advice and Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment advisor.
Chad Peterson
1 212 916-4808
cpeterson@tiaa-cref.org
1 Please see “Got to Have a Plan,” Forbes December 10, 2007.
2 TIAA-CREF Internal survey data, 2007.
3 Ratings are for TIAA as an insurance company and do not apply to the performance or safety of variable investments. A++, A.M. Best Company (as of 6/07); AAA, Fitch Ratings (as of 5/07); Aaa, Moody’s Investors Service (as of 5/07); AAA, Standard & Poor’s (as of 6/07) – the highest possible ratings from these independent analysts.
© 2009 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
