About Credit Union
TIAA, also known as Teachers Insurance and Annuity Association of America, is a Fortune 100 financial services company specializing in providing retirement, investment, and insurance solutions to people working in academic, government, medical, and other nonprofit fields.
The company was founded over a century ago to help teachers retire with dignity, and it has since expanded to serve 5 million clients. TIAA is committed to its mission of "passion for life, meet money for life," and it helps its clients fortify their finances, stay well and ignite their dreams.
TIAA's socially conscious roots are evident in the values that guide its decision-making. The company is committed to responsible investing, which incorporates environmental, social, and governance factors. This approach may limit investment opportunities, but it aligns with TIAA's commitment to doing good in the world.
TIAA's retirement solutions have a strong track record of performance. Retired participants have received 100% of their income payouts, totaling more than $505 billion since 1918. TIAA's fees are also low, and many of its services are offered at no additional cost.
In addition to retirement solutions, TIAA also offers investment and insurance solutions. The company's mutual funds and variable annuities have expense ratios that are below the median of their respective Morningstar categories. TIAA also provides personalized financial advice for retirement, online resources, and supportive communities. Its brokerage services are free, with no monthly maintenance fees or commissions for online stock and ETF trades.
Overall, TIAA is a company that is committed to helping people in nonprofit fields achieve their financial goals. Its strong track record of performance, low fees, and commitment to responsible investing make it a compelling choice for those who are looking for retirement, investment, and insurance solutions.
Key Features
Here are some key features of TIAA:
Retirement Solutions
Investment Solutions
Insurance Solutions
Low Fees
Personalized Advice
Strong Track Record
Overall, TIAA is a company that is committed to helping people in nonprofit fields achieve their financial goals. Its range of retirement, investment, and insurance solutions, combined with its commitment to responsible investing, low fees, and personalized advice, make it a compelling choice for those who are looking to fortify their finances and ignite their dreams.
Requirements
To become a TIAA client, individuals must meet certain eligibility requirements. TIAA primarily serves those who work in academic, government, medical, and other nonprofit fields, including employees of public and private colleges and universities, K-12 schools, research institutions, hospitals, museums, and other nonprofit organizations. In addition to employment in these fields, TIAA also serves their family members and retirees.
In order to open an account with TIAA, individuals will typically need to provide personal information such as their name, address, Social Security number, and employment information. They may also need to provide information about their investment objectives and risk tolerance. Some TIAA products, such as annuities, may have some extra eligibility requirements or restrictions, so trying to contact TIAA customer support for additional information might be a good idea.
It is important to note that TIAA's products and services are not available in all states, and eligibility requirements may vary depending on the product or service. It is recommended that individuals consult with a financial advisor or contact TIAA directly to determine their eligibility for specific products and services.
Access on the Go
TIAA offers a range of mobile apps and online tools that allow clients to access their accounts and manage their finances on the go.
The TIAA mobile app, available for both iOS and Android devices, allows clients to view account balances and transactions, manage their investments, and track their progress toward retirement goals. Clients can also use the app to make contributions to their retirement accounts and initiate transactions.
In addition to the mobile app, TIAA offers a range of online tools that allow clients to manage their finances from any device with internet access. These tools include a personalized retirement income calculator, an investment performance tool, and an asset allocation tool that helps clients determine how to allocate their investments based on their risk tolerance and investment goals.
Overall, TIAA's mobile apps and online tools provide clients with convenient access to their accounts and financial information, allowing them to manage their finances on the go.
TIAA Products
TIAA offers a range of products designed to help clients achieve their financial goals. Here are some of TIAA's main product categories:
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Bank Accounts. TIAA offers several types of bank accounts, including Yield Pledge Checking, Yield Pledge Money Market, Basic Savings, Basic CDs, and Bump Rate CDs.
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Retirement Annuities. TIAA's retirement annuities provide clients with a guaranteed income stream in retirement. Annuity options include fixed annuities, variable annuities, and immediate annuities.
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IRAs. TIAA offers traditional and Roth IRA options to help clients save for retirement. IRA options include mutual funds, annuities, and managed accounts.
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Mutual Funds. TIAA offers a wide range of mutual funds, including equity funds, fixed-income funds, and asset allocation funds.
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Responsible Investing. TIAA is committed to responsible investing and offers several investment options that incorporate environmental, social, and governance factors.
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Brokerage Accounts. TIAA's brokerage accounts allow clients to trade stocks, bonds, and other securities online.
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Managed Accounts. TIAA's managed accounts provide clients with a personalized investment strategy based on their financial situation and goals.
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Education Savings. TIAA offers 529 education savings plans to help families save for college expenses.
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Health Savings Accounts (HSAs). TIAA's HSAs allow clients to save for medical expenses and offer tax advantages.
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MarketSafe CDs. TIAA's MarketSafe CDs allow clients to invest in the stock market while also providing principal protection.
Which Associations does TIAA Belong to?
TIAA belongs to several associations that promote best practices in the financial services industry and advocate for the interests of clients. Here are some of the associations that TIAA is a member of:
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American Council on Education (ACE). TIAA is a founding member of ACE, representing over 1,700 colleges and universities and advocating for higher education issues.
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The Financial Services Roundtable (FSR). TIAA is a member of FSR, a leading advocacy organization for the financial services industry that promotes policies that support economic growth and job creation.
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The Interfaith Center on Corporate Responsibility (ICCR). TIAA is a member of ICCR, a coalition of investors who advocate for corporate responsibility and social justice.
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The Principles for Responsible Investment (PRI). TIAA is a signatory of PRI, which is a global network of investors who are committed to incorporating environmental, social, and governance factors into their investment decisions.
TIAA Reliability
TIAA is a reliable financial services company that has been in business for over 100 years. TIAA has a strong track record of providing retirement, investment, and insurance solutions to people who work in academic, government, medical, and other nonprofit fields.
TIAA's banking services are provided by TIAA Bank, which is a member of the Federal Deposit Insurance Corporation (FDIC). This means that TIAA Bank deposit accounts are FDIC-insured up to the maximum allowed by law. TIAA Bank is also an equal housing lender, providing loans and other lending products fairly and non-discriminately.
In terms of its investment products, TIAA has a strong track record of performance. Retired participants have received 100% of the value of their income payouts, totaling more than $505 billion since 1918. TIAA's mutual funds and variable annuities have expense ratios that are below the median of their respective Morningstar categories.
Overall, TIAA is a reliable financial services company that has a long history of serving people who work in nonprofit fields. Its banking services are provided by TIAA Bank, which is a member of the FDIC, and its investment products have a strong track record of performance.
