Expanding your business is a challenge in these difficult times. However, the nonprofit segment of the market offers key growth opportunities to financial advisors. A $815 billion financial services organization,1 TIAA is leveraging its strength as one of the largest providers of retirement plans and services to colleges and universities by expanding its presence in the K-12, hospital and government segments of the market. TIAA can give you the support you need to better serve your clients in these markets.
Under the expanded eligibility criteria, we now provide our retirement planning solutions and optional employee benefit programs to all nonprofit institutions and governmental agencies and their employees.
U.S. governmental entities include the federal government of the United States, state governments, the District of Columbia and local governments (i.e., cities or other municipalities) in the 50 states, as well as federal, state, city or municipal agencies. Examples of eligible governmental employers include:
Examples of eligible governmental employers include:
TIAA’s low-cost2 investment offerings and retirement savings solutions are available to participants in institutional retirement accounts as well as those who have retirement savings in IRAs, including SEPs and Simple IRAs.
Individuals do not need to be participants in a TIAA retirement plan to take advantage of our investment services or retirement savings solutions. Under our expanded eligibility criteria, more individuals can gain access to our full investment lineup, including our unique offerings, TIAA Traditional and the TIAA Real Estate
Account. We’re pleased to provide the following criteria to help you determine your clients’ eligibility and support your business.
Individuals may open an IRA product if at least one of the following criteria is met:
If you would like more information about who is eligible for TIAA’s investment and retirement savings solutions, please call the TIAA Advisor Services team at 888 842-0318, select option 1, Monday through Friday between the hours of 8 a.m. and 7 p.m. ET (Eastern Time).
1 TIAA had $815 billion in assets under management as of December 31, 2014.
2 Based on Morningstar data (Morningstar Direct, September 30, 2013), the expense ratio on all mutual fund products and variable annuity accounts managed by TIAA is generally less than half the mutual fund industry average. 70% are less than half their respective Morningstar Universe average and 60% are less than half their respective Morningstar Universe median.
3 An eligible family member is a spouse, domestic partner, parent, parent-in-law, step parent, sibling, step sibling, child, adopted child, or step child.
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