TIAA and CREF at a glance

What do those letters mean?

TIAA Teachers Insurance and Annuity Association of America
CREF College Retirement Equities Fund

When was each organization founded?

TIAA Founded in 1918
CREF Founded in 1952

In a nutshell, what do they do?

TIAA TIAA offers annuities and insurance to employees at non-profit organizations, and is required by its charter to operate on a non-profit basis.
CREF CREF manages our suite of variable annuities, which are offered to the same individuals and institutions that TIAA serves.

What is the legal status of each company?

TIAA TIAA is a stock New York life insurance company and is owned by the TIAA Board of Governors.
CREF CREF is a not-for-profit corporation based in New York, registered as an investment company with the Securities Exchange Commission.