Andrew Carnegie and Carnegie Foundation for the Advancement of Teaching created the Teachers Insurance and Annuity Association of America (TIAA) in 1918 as a fully funded system of pensions for professors. The funding was provided by Carnegie Corporation of New York, along with participating individuals and institutions.
Rising inflation and lengthening life expectancies, along with a large expansion of the education sector with the G.I. Bill after World War I, caused TIAA to recognize the need for its participants to diversify their retirement funds by investing in equities. Thus they created the College Retirement Equities Fund (CREF) in 1952.
In 2007 TIAA-CREF was chosen by the California State Teacher’s Retirement System (CalSTRS), the second-largest public pension plan and largest teacher retirement fund in the United States, as the sole investment provider for its supplemental retirement savings programs.
Today TIAA-CREF is a Fortune 100 financial services organization and the leading retirement provider for people working in the academic, research, medical, and cultural fields. It serves 3.7 million active participants, with 15,000 participating institutions and $487 billion in combined assets under management. It is a non-profit company.
TIAA-CREFAndrew Carnegie and Carnegie Foundation for the Advancement of Teaching created the Teachers Insurance and Annuity Association of America (TIAA) in 1918 as a fully funded system of pensions for professors. The funding was provided by Carnegie Corporation of New York, along with participating individuals and institutions.
Rising inflation and lengthening life expectancies, along with a large expansion of the education sector with the G.I. Bill after World War I, caused TIAA to recognize the need for its participants to diversify their retirement funds by investing in equities. Thus they created the College Retirement Equities Fund (CREF) in 1952.
In 2007 TIAA-CREF was chosen by the California State Teacher’s Retirement System (CalSTRS), the second-largest public pension plan and largest teacher retirement fund in the United States, as the sole investment provider for its supplemental retirement savings programs.
History
Today TIAA-CREF is a Fortune 100 financial services organization and the leading retirement provider for people working in the academic, research, medical, and cultural fields. It serves 3.7 million active participants, with 15,000 participating institutions and $487 billion in combined assets under management. It is a non-profit company.
