Three TIAA-CREF clients were each honored with an Eddy Award from Pensions & Investments.
Mississippi College received a first place award for Ongoing Investment Education, which honors campaigns dedicated to reinforcing investment education efforts. Nevada System of Higher Education (NSHE) and the University of Maine System (UMS) were also recognized in the Conversions category, which honors campaigns devoted to explaining the transition to a new service provider or a consolidation to one service provider.
Mississippi College designed and offered a participant education program on financial wellness topics, which included videos and a Retirement 101 curriculum.
NSHE and UMS both completed successful transitions to TIAA-CREF as sole recordkeeper, with a focus on employee communications and education. As a result of the transitions, both systems consolidated from multiple vendors to one with TIAA-CREF, engaged employees, enhanced the service offerings, and helped employees simplify their retirement plans by encouraging asset consolidation with TIAA-CREF.
In a sole recordkeeping model, these institutions can provide their employees with a comprehensive view of all the assets in their retirement plans, and offer employees the ability to make better decisions regarding their investment mix, risk profile and portfolio rebalancing. In addition, by employing a sole recordkeeper model, these universities have the ability to more efficiently allocate resources, minimize fiduciary liabilities and provide a more streamlined experience for plan members.
Presented annually by Pensions & Investments since 1995, the Eddy Awards recognize plan sponsors and service providers that offer exemplary investment education to DC plan participants. Awards are offered in eight categories, including initial investment education, ongoing investment education, special projects, conversions to new recordkeepers, automatic re-enrollment and fee disclosure and education.
Mississippi College, affiliated with the Mississippi Baptist Convention, is a private, co-educational, Christian university of liberal arts and sciences with nearly 5,000 students.
NSHE is comprised of two doctoral-granting universities, a state college, four comprehensive community colleges and one environmental research institute, and serves the educational and job training needs of Nevada. NSHE provides educational opportunities to nearly 106,800 students and is governed by the Nevada Board of Regents.
UMS is comprised of seven public universities located across the state of Maine and eight University College outreach centers, a law school, 31 additional course sites and a Cooperative Extension. In total, it serves over 500,000 individuals both academically and culturally. It is the state's largest educational enterprise.