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TIAA-CREF and Hampshire College Launch New 403(B) Retirement Plan
New York, November 18, 2013 – TIAA-CREF announced today that Hampshire College has selected the financial services provider to continue to recordkeep its 403(b) defined-contribution retirement plan, which holds approximately $105 million in assets. TIAA-CREF retained its role as sole recordkeeper for the plan following a competitive review.
The refreshed plan includes a new investment menu and website, which provides easy online access to accounts, information and advice. Plan members also continue to have access to TIAA-CREF annuities, which can help provide guaranteed lifetime income in retirement.
Using a sole recordkeeping model, Hampshire College provides its employees with a comprehensive view of all the assets in their retirement plans, which gives employees the ability to make better decisions regarding their investment mix, risk profile and portfolio rebalancing.
Hampshire College employees will continue to have access to TIAA-CREF financial advisors, who provide personalized retirement advice tailored to individual goals at varying life stages. TIAA-CREF research has found that individuals who receive advice are five times more confident about their retirement than the average American worker.1
Plan members reap the benefits of an organization that provides both sole recordkeeping and financial advice: They receive 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. TIAA-CREF advisors are available on campus, over the phone and online to assist Hampshire College employees with their investment decisions.
TIAA-CREF (www.tiaa.org) is a national financial services organization with $542 billion in assets under management (as of 9.30.13) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About Hampshire College
Hampshire College is a selective, private, liberal arts college located in Amherst, Mass., and is known for its success educating innovative thinkers. Each of Hampshire's 1,400 students pursues a personalized program of interdisciplinary study, which the student works with professors to build. Hampshire is a member of the Five College consortium (Hampshire, Amherst, Smith and Mt. Holyoke Colleges, and the University of Massachusetts Amherst).