TIAA-CREF Announces Partnership With Ibbotson to Provide Enhanced DC Advice Services
NEW YORK, NY, December 16, 2004 -- TIAA-CREF, the financial services group of companies and leading provider of retirement services in the academic, research, medical and cultural fields announced today that it is partnering with Ibbotson Associates, a leading authority on asset allocation, to provide participants with enhanced, objective advice and planning tools.
"This new, enhanced advice service is a very exciting development for TIAA-CREF participants, " said Maliz Beams, head of TIAA-CREF Wealth Management and Advice and Planning Solutions. "By giving our participants the tools they need to identify their long-term savings goals and develop effective strategies to meet those goals, TIAA-CREF is building on the high value and quality service we already offer."
Based on Ibbotson's independent financial modeling expertise, TIAA-CREF will provide its participants in defined contribution retirement plans with asset allocation guidance and specific fund recommendations for building an appropriate investment portfolio, taking into consideration their specific financial goal and personal information.
TIAA-CREF plans to begin offering this service early next year to institutional retirement plans that are on the new, flexible TIAA-CREF Open Plan Solutions platform, which offers expanded investment choices and simplified administrative solutions.
"We believe that Ibbotson's values and approach to investing, including its emphasis on asset class diversification, are completely aligned with our own," Beams said. "The real winners are our participants who stand to benefit from Ibbotson renowned asset allocation expertise."
Ibbotson Associates is a leading authority on asset allocation, providing products and services to help investment professionals obtain, manage and retain assets. They provide extensive training, client education material, asset allocation investment management services and software that enhance the ability of their clients to deliver working solutions.
About TIAA-CREF
TIAA-CREF is a national financial services group of companies and the leading provider of retirement security in the academic, medical and cultural fields. With more than $320 billion in combined assets under management (6/30/04), TIAA-CREF ranks 68th on FORTUNE magazine's list of largest companies (April 2004). Further information can be found at http://www.tiaa-cref.org.
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