The success of your retirement plan, and your employees’ readiness for retirement, depends on employee engagement and ongoing participation. TIAA applies extensive research to understand your employees’ needs. We offer communication, education and personalized advice — with messaging targeted to specific needs across a spectrum of life stages and available in participants’ preferred channels — to drive measurable progress toward planning for financial well-being.
Comprehensive enrollment, welcome and onboarding communications are designed to motivate your eligible employees to participate in the plan. Once enrolled, we support you in fulfilling your responsibility to deliver a variety of ongoing communications. Our goal is to make your job easier — from notification of plan changes to required annual regulatory notifications, along with statements, financial education, and investment performance information in between.
Whether enrolling online and using the My Account section of TIAA.org for ongoing monitoring, reading through action-oriented communications and publications, or speaking with our helpful consultants, advisors and service representatives, the information your employees receive is targeted to where they are on the road to retirement.
This targeted approach is successful because we take a comprehensive look at your participant data, analyzing various cuts to better understand your employee population. We then apply this information and our segmentation strategy to create a comprehensive communication, education and advice plan that identifies key areas of focus, appropriate channels, messages and makes each message relevant.
From powerful online games like the Financial IQ Challenge, engaging webinars, online communities and a portfolio of targeted campaigns, workshops and other media — to regional financial consultants available in 120 local offices nationwide — we engage participants in the way they are most comfortable. They are supported by our participant call centers and the My Account section of TIAA.org which was ranked #1 by DALBAR in overall rankings. 1
Within the plan your employees are driven to action with personalized fund-level recommendations on plan assets which they can access online, by phone or in person. Beyond the plan, we offer customized one-on-one financial planning, portfolio management and advisor services to help employees with more sophisticated investment requirements and lifetime planning needs. Over two-thirds (71%) of those receiving TIAA’s personalized advice chose to save more, adjust their portfolio allocation or rebalance. 2
1Source: DALBAR Financial Services Market Research Firm. DALBAR is a well-respected market research firm that regularly analyzes financial services websites to evaluate their online services. DALBAR ranks them for both functionality and experience design, looking for consistent, appealing, and user-centric services. DALBAR ranks approximately 30 companies. The pool of companies considered may be larger than 30. This reporting change was made the beginning of 2Q 2015.The participant site, (TIAA.org), ranked number 1 out of 30 (1Q16).
2 Source: TIAA Advice analysis of 71,583 TIAA participants who received retirement plan advice or guidance and took action in the 12 months ending 12/31/2015. The overall action rate of 71% includes 22% who chose to save more and 63% who chose to change their future allocations and/or rebalance their portfolio.
3 Retirement Advisor is a third-party advice tool utilizing advice methodology by Morningstar Investment Management, LLC (“Morningstar”) which has provided an investment methodology that is the basis for the advice supplied by the TIAA Retirement Advisor. Affiliates of TIAA are the registered investment advisers to the TIAA-CREF Mutual Funds, Nuveen Funds, CREF accounts and the TIAA Real Estate Account, and receive fees for providing investment advisory services. These fees are described in the applicable prospectuses. The advice may vary over time and with each use. IMPORTANT: Projections and other information generated through the Retirement Advisor regarding the likelihood of various investment outcomes are hypothetical, do not reflect actual investment results and are not a guarantee of future results. The projections are dependent in part on subjective assumptions, including the rate of inflation and the rate of return for different asset classes. These rates are difficult to accurately predict. Changes to the law, financial markets or your personal circumstances can cause substantial deviation from the estimates. This could result in declines in the accounts’ value over short or even extended periods of time.
The TIAA group of companies does not provide tax or legal advice. Please consult with your own legal or tax advisor.