New York, May 31, 2017 — Saint Anselm College in Manchester, New Hampshire, has selected TIAA to be the sole recordkeeper of its 403(b) retirement plan, which includes approximately $80 million in total assets1.
With a single vendor model, Saint Anselm College can better manage its plan’s administrative requirements and reduce its costs by streamlining plan compliance, operations and enrollment processes.
“We found that using one provider would provide the college’s faculty and staff with a centralized source for their retirement needs,” said David Harrington, director of human resources at Saint Anselm College. “In addition, TIAA’s commitment to higher education, innovative technology and customer experience will help our employees plan for a secure financial future.”
“Leading a competitive request for proposal process, Cammack Retirement Group is proud to support Saint Anselm 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 Saint Anselm College’s retirement plan participants with administrative and investment cost savings, an improved communication and education program, a new best-in-class investment menu and a strong retirement plan provider committed to the success of employees.”
The new investment menu was carefully selected to provide diverse retirement portfolio options to match employees’ investment goals. The lineup includes lifetime income options and a wide range of open-architecture mutual funds. In addition to a diverse investment mix, employees will have the ability to make Roth contributions to the 403(b) plan with after-tax dollars.
As part of the plan services, faculty and staff have the ability to receive fund-specific advice and education in line with their unique financial needs. In addition, more than 12 group meetings were conducted in March 2017, and TIAA representatives provided counseling sessions for more than 150 employees during the plan transition. TIAA also is providing outsourced recordkeeping functions, including collecting electronic salary deferrals, preparing the college’s Form 5500, providing fee disclosure mailings and approving loans.
“We look forward to serving Saint Anselm with comprehensive retirement planning services,” said Ron Pressman, CEO of Institutional Financial Services at TIAA. “TIAA is focused on outcomes, and we look forward to helping faculty and staff achieve a successful retirement.”
TIAA (TIAA.org) is a unique financial partner. With an award-winning 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 $938 billion in assets under management (as of 3/31/20173) and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.
About Saint Anselm College
Founded in 1889, Saint Anselm College is a four-year liberal arts college providing a 21st century education in the Catholic, Benedictine tradition. Located in southern New Hampshire near Boston and the seacoast, Saint Anselm is well known for its strong liberal arts and nursing programs as well as for the New Hampshire Institute of Politics . www.anselm.edu