CREF Overseers & Trustees

Because CREF is a SEC-registered investment company, CREF’s Boards of Overseers and Trustees play a slightly different role than the TIAA Boards. But their responsibility remains the same – to make sure our organization is managed properly.
About overseers

What is the CREF Board of Overseers?

For TIAA's first twenty years, its corporate stock was owned by Carnegie Corporation of New York, which provided TIAA's $500,000 endowment grant. In 1938, Carnegie Corporation turned over ownership of TIAA to the new company, named Trustees of T.I.A.A. Stock.  In 1989, Trustees of T.I.A.A. Stock was renamed TIAA Board of Overseers.
The Overseers are responsible for defining the mission of TIAA, overseeing TIAA’s business strategies and performance in consultation with the CEO and management, reviewing policy issues affecting TIAA, overseeing matters that could threaten the general reputation of TIAA, electing the members of the TIAA Board of Trustees, filling vacancies by appointment, and approving amendments to TIAA's charter and bylaws.
The TIAA Board of Overseers normally consists of seven members — including the TIAA CEO and president — and each member serves a seven-year term.  By charter, the seven members of the TIAA Board of Overseers are the same seven members of the CREF Board of Overseers.

Who are the Overseers?

Participant since 2013
TIAA Overseer since 2013
Participant since 1976
TIAA Overseer since 2010
Roger W. Ferguson
Participant since 2008
TIAA Overseer since 2008
Renu Khator
Participant since 1986
TIAA Overseer since 2017
Cleve L. Killingsworth
Participant since 2007
TIAA Overseer since 2007
Michael S. McPherson
Participant since 1974
TIAA Overseer since 2005
About trustees

What is the CREF Board of Trustees?

The CREF Board of Trustees consists of 10 people who oversee the management of CREF. Each individual is an independent trustee under the Investment Company Act of 1940 (for example, they cannot be a current or former employee of TIAA). By policy, the positions of Chairman of the CREF Board of Trustees and Chief Executive Officer of CREF are held by different individuals.
CREF Trustees are elected directly by CREF participants. Each participant has a number of votes equal to the dollar amount of his or her CREF accumulation (or the dollar amount of assets underlying that individual’s CREF’s annuity if he or she is receiving annuity income).
Participant since 1984
TIAA Trustee since 2006
Participant since 2007
TIAA Trustee since 2007
Participant since 2007
TIAA Trustee since 2007
Participant since 1990
TIAA Trustee since 2005
Participant since 2011
TIAA Trustee since 2011
Participant since 2003
TIAA Trustee since 2003
Participant since 1986
TIAA Trustee since 2006
Participant since 1998
TIAA Trustee since 1991
Participant since 1981
TIAA Trustee since 2006
About committees

Committees of the TIAA-CREF Funds Complex

The Trustees of the CREF board work largely through committees, which meet frequently and shape policy for CREF, TIAA-CREF Funds, TIAA Separate Account VA-1 and the TIAA-CREF Life Funds. All TIAA-CREF Funds Committees consist of independent Trustees. Memberships listed below became effective May 12, 2015.
  • Act on behalf of the complex boards between meetings of the full board.
    Current members:
    Howell E. Jackson
    (chair)
    Nancy A. Eckl
    Bridget A. Macaskill
    Maceo K. Sloan
    • Perform oversight functions for the Boards regarding the investment process and investment policies of the Funds
    • Review and set guidelines for the investment strategy of each Fund
    • Review the Funds’ investment performance, portfolio management dividend policy, cash flow and securities lending activities
    Thomas J. Kenny
    (chair)
    Forrest Berkley
    Nancy A. Eckl
    Michael A. Forrester
    Howell E. Jackson
    Bridget A. Macaskill
    James M. Poterba
    Maceo K. Sloan
    Laura T. Starks
    • Recommend corporate social responsibility and corporate governance policies relating to companies other than Funds
    • Establish policies and guidelines for the voting of proxies held by the Funds, the submission of shareholder resolutions, and communications with portfolio companies
    James M. Poterba
    (chair)
    Michael A. Forrester
    Maceo K. Sloan
    Laura T. Starks
    • Assist the Boards in oversight for financial and operational reporting, internal control and compliance with laws, regulations and ethics policy
    • Approve and oversee independent auditors and evaluate their independence and effectiveness
    • Review financial reporting practices to assure the Funds are in compliance with applicable laws and regulations
    Nancy A. Eckl
    (chair)
    Laura T. Starks
    Howell E. Jackson
    James M. Poterba
    Maceo K. Sloan
    • Oversee operational matters of the Funds, including
      • Contracts with third-party service providers and investment advisors
      • Certain legal, compliance and finance matters
      • Marketing and distribution of the Funds
    • Responsible for reviewing portfolio transactions and trading, Funds' pricing, registration statements and disclosures, finance matters and inter-company arrangements
    Bridget A. Macaskill
    (chair)
    Forrest Berkley
    Thomas J. Kenny
    Michael A. Forrester
    • Promote the best interests of the Funds and their shareholders by implementing sound governance policies and practices
    • Make recommendations concerning the nomination of Trustees, committee structure, composition and effectiveness
    • Conduct regular evaluations of board performance
    • Periodically review the Funds’ governance policies and practices to ensure that they are consistent with sound governance
    Laura T. Starks
    (chair)
    Michael A. Forrester
    Howell E. Jackson
    Maceo K. Sloan
Proxy information

Participants can vote for CREF Trustees

TIAA participants have a say when it comes to who sits on our trustee boards. CREF Trustees are elected every four years.