UWC-USA Adds a Socially Responsible Default

New York, December 18, 2018 — TIAA today announced that United World College-USA, in conjunction with LongView Asset Management, LLC, has adopted a new default investment for their retirement plan with special consideration to environmental, social and governance ("ESG") criteria. UWC-USA is the first TIAA client to use the Custom Portfolios Model Service to create a socially responsible set of models.
“Our mission is to make education a force to unite people, nations and cultures for peace and a sustainable future,” said Dr. Victoria J. Mora, President of United World College-USA. “It is in line with our values to create retirement plans that consider positive social outcomes while helping our faculty and staff prepare for a secure future.”
Through recordkeeper TIAA’s Custom Portfolios Model Service, LongView Asset Management created a series of models for the UWC-USA TDA Plan and the UWC-USA DC Plan.1
"LongView believes that stewardship of our planet is an essential part of investing for the future," said Douglas Lynam, Director of Educator Retirement Services at LongView Asset Management.
“We are pleased to be working with TIAA and UWC-USA on the first default investment option for a school retirement plan based on environmental, social and governance criteria. The models provide faculty and staff with a convenient way to create a diversified retirement portfolio and save for retirement. They seek to promote positive social outcomes and a healthier environment in line with UWC-USA’s values, without sacrificing expected returns or assuming greater investment risk.”
With the custom portfolio as the retirement plan default, faculty and staff benefit from the convenience of a professionally designed and managed retirement portfolio in a single choice. The models are comprised of socially responsible equity and bond funds combined with TIAA Traditional, a fixed annuity.2 In addition, with TIAA as recordkeeper, faculty and staff can receive personalized advice on the plan’s investment options from a TIAA financial consultant at no additional cost.
“For five decades, TIAA has been committed to the practice and continuous advancement of responsible investment and its key approaches,” said Dan O’Toole, Senior Managing Director of Institutional Investments & Research at TIAA. “Our Custom Portfolio Model Service is designed to be simple and flexible, so we were delighted to be able to help UWC-USA create a retirement plan default with ESG elements in keeping with their deep commitment to serving others.”

About TIAA

With an award-winning3 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1 trillion in assets under management (as of 9/30/20184) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.

About UWC-USA

UWC-USA is one of 17 United World College (UWC) campuses located on five continents. A two-year residential school, UWC-USA serves students age 16-19 who typically represent more than 90 different countries. They participate in a unique program that combines academic challenge with an experiential, hands-on approach to learning. UWC-USA distinguishes itself through its Wilderness Program, the Bartos Institute for Constructive Engagement of Conflict, its global approach to Arts and Culture, and a focus on personal, communal, and environmental Sustainability. UWC-USA students focus service efforts on the local community of Las Vegas, N.M., where they participate in an array of service projects amounting to over 17,000 hours per year. UWC students are taught the skills and values that reflect international understanding and deep respect for others. They are poised to lead positive change in their future communities, institutions, and beyond.

About LongView Asset Management

LongView is a registered investment advisor based in Santa Fe, New Mexico, and is a leader in providing sustainable investment solutions for individuals, endowments, and educator retirement plans. Established in 2002, and serving clients around the country, LongView is an independent, fee-only fiduciary.

Press contact

Leslie Sepuka
888-200-4062
media@tiaa.org
1 TIAA and LongView Asset Management, or any of their affiliates or subsidiaries, are not affiliated with or in any way related to each other. TIAA acts as recordkeeper for the plan and, in that capacity, is not a fiduciary to the plan. TIAA and LongView Asset Management both provide individual advice and education to plan participants. When TIAA provides advice, TIAA takes fiduciary responsibility for that advice. TIAA is not responsible for the advice and education provided by LongView Asset Management. LongView Asset Management is not responsible for the advice and education provided by TIAA.
2 Issued by Teachers Insurance and Annuity Association of America.
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 periods ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37), 11/30/16 (34) and 11/30/17 (34) with at least five equity, five bond, or three mixed-asset portfolios. Note this award pertains to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters Lipper Awards, © 2018 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. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance, rankings and prospectuses, please visit the Research and Performance section on TIAA.org. Securities offered through Nuveen, LLC, and TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC.
4 Based on $1 trillion of assets under management across Nuveen Investments affiliates and TIAA investment management teams as of 9/30/18.
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TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. If offered under your plan, TIAA and CREF annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY, respectively. Each is solely responsible for its own financial condition and contractual obligations.
Investments in socially responsible funds are subject to the risk that because social criteria excludes securities of certain issuers for non-financial reasons, investors may forgo some market opportunities available to those that don’t use these criteria.
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