New York, March 14, 2013 — TIAA-CREF, a leading financial services organization, today announced its selection by Hamilton College as the institution’s exclusive retirement provider.
TIAA-CREF will now manage Hamilton College’s 403(b) defined contribution retirement plan, in which 720 employees actively participate. The plan contains approximately $150 million in assets.
Under the new agreement, funds previously managed by two different providers will now be managed by TIAA-CREF. Hamilton College will implement TIAA-CREF’s open-architecture recordkeeping solution, which simplifies retirement plan oversight and eases many fiduciary challenges that have arisen from recent regulatory changes.
TIAA-CREF’s sole recordkeeping solution streamlines plan enrollment, manages employee contributions and tracks transactions related to loans and withdrawals, giving Hamilton significantly more visibility into its plan’s management and accounting.
By moving to a sole recordkeeping model, Hamilton can also provide its employees with a comprehensive view of all the assets in their retirement plan, which gives employees the ability to make better decisions regarding their investment mix, risk profile and portfolio rebalancing decisions.
Hamilton’s employees will also have access to TIAA-CREF financial advisors, who provide personalized retirement advice tailored to individual goals at varying life stages. By combining sole recordkeeping and financial advice, plan members may benefit because sole recordkeeping provides them with a comprehensive picture of their retirement plan assets, which they can use in conversations with a TIAA-CREF financial advisor to help build a successful retirement investment strategy.
Plan members may take advantage of the plan’s advice offer to meet their investing needs. TIAA-CREF advisors will be available on campus, over the phone and online to assist Hamilton College employees with their investment decisions.
Plan members will also have access to a number of TIAA-CREF mutual funds and annuities. Annuities provide a stream of guaranteed lifetime income in retirement that can help ensure retirees never outlive their savings.
) is a national financial services organization with $502 billion in assets under management (as of 12.31.12
) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa.org
About Hamilton College
Hamilton is one of the nation’s top liberal arts colleges and has an endowment of approximately $700 million. It is independent, highly selective, coeducational and residential. Having just celebrated the 200th anniversary of its chartering in 1812, Hamilton is today comprised of approximately 1,820 diverse and talented students from 47 states and 38 countries. More information can be found at www.hamilton.edu/about