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TIAA-CREF Selected as Sole Record-keeper for National University
403(b) plan will offer employees personalized advice, diverse investment mix
New York, March 4, 2015 — TIAA-CREF today announced that National University in San Diego has selected the financial services provider to be the sole recordkeeper of its 403(b) retirement plan. TIAA-CREF will manage more than $80 million in assets for the plan’s 1,625 members.1
The sole recordkeeping platform enables National University employees to gain access to an array of investment options, including TIAA-CREF annuities. This diversified investment menu will help plan members establish an investment strategy tailored toward their individual savings goals and retirement targets.
“As we continually seek to improve retirement plan outcomes, a sole recordkeeping arrangement makes sense as a way to enhance our employees’ efforts to meet their retirement readiness needs,” said Jane Sawyer, associate vice president of human resources at National University. “We’re happy to continue to offer them quality investment options for retirement planning, and it’s an added bonus that they can take advantage of TIAA-CREF’s advice and financial education tools as well.”
National University administrators will benefit from the sole recordkeeping model’s streamlined administration and enrollment processes, which help keep plan costs low.
Through the new plan, National University participants will receive personalized advice from financial consultants geared towards their specific life stage and retirement goals. They also will be able to turn to TIAA-CREF’s suite of online financial resources for additional counsel and tools.
“The sole recordkeeping model provides a comprehensive approach to retirement planning by giving employees the power to manage their investment assets and seek advice along the way,” said Ed Moslander, senior managing director and head of institutional client services for TIAA-CREF. “This approach to retirement readiness helps employees at every stage—whether they’re beginning their career or nearing retirement—to develop a solid financial plan and stick to it as they navigate the path toward retirement.”
National University worked with Multnomah Group, located in Portland, OR, to complete a review of its retirement program.
TIAA-CREF (www.tiaa.org) is a national financial services organization with $851 billion in total assets under management (as of 12.31.14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About National University
National University is the second-largest private, nonprofit institution of higher education in California. Founded in 1971, National University is dedicated to making lifelong learning opportunities accessible, challenging, and relevant to a diverse population of students. National University consists of five schools and one college, including the Schools of Business and Management; Education; Engineering, Technology and Media; Health and Human Services; and Professional Studies; and the College of Letters and Sciences. National University offer more than 100 graduate and undergraduate degrees and 22 credential programs and 30 certificates. A leader in online education, National University offers more than 70 graduate and undergraduate degree programs and over 1,200 courses online. With 30,000 students and more than 140,000 alumni, National University is the flagship institution of the National University System. Programs are offered at 27 campuses throughout California and one in Nevada, National University is headquartered in La Jolla, California. To learn more, visit www.nu.edu.