New York, August 26, 2014 — TIAA-CREF announced today that St. Lucie County, Florida, has selected the company as sole recordkeeper for its 457(b) deferred-compensation plan.
Under the new agreement, TIAA-CREF will manage the plan's assets, which total more than $15 million. Employees will have access to a wide range of investment options under the new deferred-compensation plan, along with financial advice through in-person, phone and online resources.
TIAA-CREF's sole recordkeeping capability will help St. Lucie County fulfill its fiduciary requirements, keep plan costs low and streamline the administration of retirement benefits.
Investment options in the St. Lucie County retirement plan will include fixed income bonds, stable value funds, multi-asset target-date funds and equities, allowing plan members to create a retirement portfolio that's aligned with their personal investment preferences and goals.
Plan members 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 (www.tiaa.org) is a national financial services organization with $613 billion in total assets under management (as of 6.30.14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About St. Lucie County
Located on Florida's east coast in the heart of the Treasure Coast between Orlando and Miami, St. Lucie County is made up of the City of Fort Pierce, the City of Port St. Lucie and the beaches of Hutchinson Island. With a population of roughly 270,000 residents, the area is known for its 21 miles of uncrowded, natural beaches, old Florida ambiance and small town charm, world-class fishing, spring training home of the New York Mets, PGA Village and an abundance of outdoor activities on nearly 11,000 acres of publicly owned nature preserves. For more information, visit www.stlucieco.gov or www.visitstluciefla.com .