Excelsior College Selects TIAA as Sole Recordkeeper

NEW YORK, March 7, 2017 – TIAA today announced that Excelsior College in Albany, New York, has selected the financial services provider to be the sole recordkeeper of its 401(a) and 403(b) retirement plans, which include approximately $62 million in assets.1

Under the new arrangement, Excelsior College faculty and staff will have access to TIAA’s personalized advice and education services tailored to help meet their individual financial needs.
The plan also features new investment options to help employees create a diversified retirement portfolio matching their retirement goals and investment preferences. The new fund lineup includes a wide range of open architecture mutual fund options and four annuities, including TIAA Traditional, which can guarantee a stream of lifetime income in retirement.2
“We are committed to providing the best retirement benefits to our employees and recognize the benefit of a sole recordkeeper,” said Mark Howe, Vice President for Human Resources at Excelsior College. “A single provider provides for a more simplified administration process and more consolidated account information, which helps our employees plan for retirement.    The arrangement with TIAA helps us bring stronger investment options and personalized advice, while also delivering lower fees and investment options with a lower overall cost.”
Over the month of December, TIAA held more than 100 individual counseling meetings with faculty and staff and facilitated 10 group sessions on campus to help employees understand the plan changes.

“TIAA’s mission has remained constant for nearly 100 years—we’re here to help people save for, and generate income during, retirement,” said Ron Pressman, CEO of Institutional Financial Services at TIAA. “We are committed to educating Excelsior’s faculty and staff on how they can work toward achieving financial stability and retirement security, and look forward to serving them for years to come.”  
Excelsior College selected TIAA after conducting a full review of its retirement plans with the expertise of Cammack Retirement Group.
"Leading a competitive request for proposal process, Cammack Retirement Group is proud to support Excelsior College in the selection of their new retirement plan provider,” noted Kevin Murray, Director, Cammack Retirement Group. “The goal of the search and selection process was to provide Excelsior College retirement plan participants with administrative and investment cost savings, an improved communication and education program, an improved investment menu and a strong retirement plan partner committed to the success of employees.”

About TIAA

TIAA (TIAA.org) is a unique financial partner.  With an award-winning3 track record for consistent investment performance, TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $907 billion in assets under management (as of 12/31/20164) and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.

About Excelsior College

Excelsior College (excelsior.edu ) is a regionally accredited, nonprofit online college focused on helping adults complete their degrees and advance their careers. The college contributes to the development of a diverse, educated and career-ready society by valuing lifelong learning with an emphasis on serving individuals historically underrepresented in higher education. Founded in 1971, Excelsior meets students where they are – academically and geographically –  removing obstacles to the educational goals of adults pursuing continuing education and degree completion. Our pillars include innovation, flexibility, academic excellence and integrity. Learn more at excelsior.edu.
Leslie Sepuka
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.
All guarantees are subject to the claims paying ability of the issuing insurance company.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
1 As of 12/19/2016
2 Guarantees are subject to the claims-paying ability of the issuing company.
3 The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for eligible funds over the three-year period ended 11/30/12, 11/30/13, 11/30/14 and 11/30/15, respectively. TIAA was ranked among 36 fund companies in 2012, 48 fund companies in 2013 and 2014, and 37 fund companies in 2015 with at least five equity, five bond or three mixed-asset portfolios. Classification averages are calculated with all eligible share classes for each eligible classification. The calculation periods extend over 36, 60 and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five or 10 years. From Thomson Reuters Lipper Awards, © 2016 Thomson Reuters. All rights reserved. Used by permission and protected by the copyright laws of the United States. The printing, copying, redistribution or retransmission of this content without express written permission is prohibited. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance and rankings, please visit the Research and Performance section on TIAA.org.
4 Based on assets under management across Nuveen Investments affiliates and TIAA investment management teams.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products.  Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.
Deposit and lending services and products are provided by TIAA Direct®, a division of TIAA-CREF Trust Company, FSB.  Member FDIC. Equal Housing Lender.
TIAA products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org for details.
© 2017 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017