New York, July 31, 2013 —TIAA-CREF, a leading financial services provider, has been selected by Massachusetts Eye and Ear in Boston to become the sole recordkeeper of its 403(b) retirement plan for approximately 1,500 active plan members. Mass. Eye and Ear’s plans include approximately $160 million in assets.
Under the arrangement, TIAA-CREF is providing a new open-architecture investment menu to Mass. Eye and Ear’s employees along with personalized planning and advice, wealth management and brokerage capabilities, simplifying plan oversight and addressing many of the challenges that have arisen from recent regulatory changes.
In addition to mutual funds from TIAA-CREF and other investment managers, plan members will also have access to TIAA-CREF annuities, which allow members to create guaranteed income for life, right from the plan much like a traditional pension.
“We are excited to become the sole provider of Mass. Eye and Ear’s retirement plan,” said Christina Proscia, managing director of TIAA-CREF’s Health Care Market. “We believe that strong investment management, personalized advice and guaranteed income for life are the cornerstones to helping our investors create lifetime financial security.”
TIAA-CREF (www.tiaa.org) is a national financial services organization with $523 billion in assets under management (as of 06.30.13) 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 for details.
About Massachusetts Eye and Ear
Mass. Eye and Ear clinicians and scientists are driven by a mission to find cures for blindness, deafness and diseases of the head and neck. After uniting with Schepens Eye Research Institute in 2011, Mass. Eye and Ear became the world's largest vision and hearing research center, offering hope and healing to patients everywhere through discovery and innovation. Mass. Eye and Ear is a Harvard Medical School teaching hospital and trains future medical leaders in ophthalmology and otolaryngology, through residency as well as clinical and research fellowships. Internationally acclaimed since its founding in 1824, Mass. Eye and Ear employs full-time, board-certified physicians who offer high-quality and affordable specialty care that ranges from the routine to the very complex. U.S. News & World Report’s “Best Hospitals Survey” has consistently ranked the Mass. Eye and Ear Departments of Otolaryngology and Ophthalmology as top five in the nation. For more information about life-changing care and research, or to learn how you can help, please visit www.masseyeandear.org.