TIAA-CREF

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DEFINITION of 'TIAA-CREF'

A nonprofit organization that provides investment and insurance services for those working in education, medicine, culture and research. TIAA-CREF, short for Teachers Insurance and Annuity Association - College Retirement Equities Fund, has a history that dates back to the late Andrew Carnegie, whose Carnegie Foundation for the Advancement of Teaching created the initial organization in order to service the pension needs of professors.

BREAKING DOWN 'TIAA-CREF'

As of late 2005, the TIAA-CREF had more than 15,000 clients, amounting to more than $360 billion in assets under management. Its clients are predominantly institutional and come from the nonprofit and educational sectors. The firm started as a pension administration business, and the core operations of the TIAA-CREF remain geared toward retirement plan administration and a line of annuity products.

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RELATED FAQS
  1. What are the best ways to sell an annuity?

    The best ways to sell an annuity are to locate buyers from insurance agents or companies that specialize in connecting buyers ... Read Full Answer >>
  2. How are non-qualified variable annuities taxed?

    Non-qualified variable annuities are tax-deferred investment vehicles with a unique tax structure. After-tax money is deposited ... Read Full Answer >>
  3. Can a variable annuity be rolled into an IRA?

    You can roll qualified variable annuities, such as other qualified retirement plan accounts, into a traditional IRA. Non-qualified ... Read Full Answer >>
  4. Are variable annuities subject to required minimum distribution (RMD)?

    Variable annuities are insurance contracts that provide tax-deferred growth of assets that can later generate a guaranteed ... Read Full Answer >>
  5. For what types of financial instruments would I want to calculate the present value ...

    Because the present value of an annuity formula relies on a consistent interest rate and identical payments for a set period ... Read Full Answer >>
  6. What exact information is included in the interest rate when calculating the present ...

    When calculating the present value of an annuity, the interest rate percentage is the rate at which future payments are discounted ... Read Full Answer >>

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