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Niagara University Selects TIAA-CREF to be Sole Record-keeper
New York, December 19, 2013 – TIAA-CREF announced today that Niagara University has selected the company as sole recordkeeper for its 403(b) defined-contribution retirement plan.
Niagara University has moved to a sole recordkeeping model where TIAA-CREF will recordkeep the plan’s more than $82 million in assets. Niagara employees will have access to an array of customizable investment options, including TIAA-CREF annuities and mutual funds, along with financial advice through on-site, phone and online resources.
Niagara employees will be able to take advantage of TIAA-CREF’s open-architecture investment platform to select from a variety of professionally managed, low-cost1 and tailored investment options. The full suite of investment choices will enable employees to craft customized portfolios based on their preferences. In addition, TIAA-CREF annuities, which are included in the plan, will help provide guaranteed lifetime income in retirement.
TIAA-CREF’s sole recordkeeping capability simplifies fiduciary requirements, lowers plan costs and helps streamline administration of Niagara’s retirement plan.
Niagara employees also will have access to TIAA-CREF financial advisors, who provide personalized retirement advice tailored to individual goals at various life stages, plus online financial advice and resources. TIAA-CREF research has found that individuals who receive advice are five times more confident about their retirement than the average American worker.2
TIAA-CREF (www.tiaa.org) is a national financial services organization with $542 billion in assets under management (as of 09.30.13) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About Niagara University
Niagara University is a Catholic university in the Vincentian tradition, located in the town of Lewiston in Niagara County, N.Y.