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PLANSPONSOR Awards TIAA-CREF 38 "Best in Class" Honors for Participant and Plan Sponsor Services
TIAA-CREF Recognized in Four Additional Categories Compared with the 2013 PLANSPONSOR DC Survey Results
TIAA-CREF received 38 Best in Class Awards in PLANSPONSOR's 2014 Defined Contribution (DC) Survey, excelling in four additional categories compared with last year. Nearly 67% of plan sponsor respondents are "extremely/very likely to recommend" TIAA-CREF.
In overall results, TIAA-CREF was recognized with:
- Two participant service awards in the $50M-$200M market segment
- Nine participant service awards in the $200M-$1B market segment
- Eleven participant service awards in the >$1B segment
- One plan sponsor services award in the $50M-$200M market segment
- Eight plan sponsor services awards in the $200M-$1B market segment
- Seven plan sponsor services awards in the >$1B segment
|Participant Services||Plan Sponsor Services|
|Participant call centers||Sponsor website and tools (two awards)|
|Participant website functionality* (two awards)||Plan analytics / reporting / benchmarking (two awards)|
|Online tools / savings & investing services* (two awards)||Compliance support / testing (two awards)|
|Participant statements (two awards)||Legislative / regulatory updates*|
|Overall education programs (two awards)||Account / service team industry knowledge (two awards)|
|Communication materials (two awards)||Account / service team responsiveness (three awards)|
|Enrollment assistance (two awards)||Staff consistency / lack of staff turnover (two awards)|
|Retiree services / payments (two awards)||“Cost-to-value” of plan fees (two awards)|
|Onsite meetings (two awards)|
|Range of investment options|
|Participant loan / withdrawal processing*|
|Participant beneficiary administration|
|Participant fee disclosure (two awards)|
*Denotes category in which TIAA-CREF won an award in 2014 but not in 2013.
"We are very thankful that clients took the time to respond to the survey," said TIAA-CREF Executive Vice President Teresa Hassara. "We take this and all feedback very seriously as we work to meet the needs of our clients and their employees."
According to PLANSPONSOR, providers may win awards by either finishing with one of the top 3 scores in a given category or by scoring higher than the benchmark for that market segment asset range.