New York, August 21, 2014 — TIAA-CREF announced today that Brenau University, based in Gainesville, Georgia, has selected the company to be sole recordkeeper of its retirement program. Brenau University, founded in 1878, is a private, not-for-profit liberal arts university with undergraduate and graduate degree programs.
Working with Cannon Financial Strategists of Athens, Georgia, the university completed a thorough review of its retirement plans. TIAA-CREF was already the recordkeeper of Brenau's 403(b) plan, and now has assumed responsibility for Brenau's 401(k) plan as well.
"When all of your financial advisors tell you that they would like to have the option of placing their personal assets with TIAA-CREF, making such a decision is fairly easy," said Dr. David L. Barnett, Brenau University's chief financial officer.
"We are excited Brenau is consolidating the recordkeeping of their 401(k) plan with TIAA-CREF," said David Ray, head of sales for TIAA-CREF's full-service defined contribution recordkeeping business. "We've served Brenau for more than 40 years and look forward to years of continued success."
The new agreement streamlines Brenau's retirement plans management by allowing TIAA-CREF to recordkeep approximately $33 million in combined retirement assets in both the 401(k) and 403(b) plans.
Brenau employees will be able to take advantage of TIAA-CREF's open-architecture platform to select from a variety of professionally managed, cost-effective and customized investment options. Cannon Financial Strategists will also provide on-site financial education and advice for employees.
University employees participating in the plan will have access to a diversified set of investment options, including TIAA-CREF annuities, which help provide guaranteed lifetime income in retirement, and mutual funds.
TIAA-CREF (www.tiaa.org) is a national financial services organization with $613 billion in total assets under management (as of 6/30/2014) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About Brenau University
Brenau University, based in Gainesville, Georgia, is a non-sectarian, private, not-for-profit institution of higher education that operates undergraduate and graduate studies on line on campuses. That includes the residential Women's College as well as coeducational programs in Gainesville and other Georgia locales: North Atlanta/Norcross, South Atlanta/Fairburn, Augusta and Kings Bay on the U.S. Navy submarine base. Its academic programs range from a two-year Associate of Arts degree, through a full range of bachelor's and master's degrees to the Doctor of Nursing Practice and Doctor of Occupational Therapy degrees. All are fully accredited by the Southern Association of Colleges and Schools Commission on Colleges and all appropriate professional education standards organizations. For more information, consult www.brenau.edu .