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TIAA-CREF was originally created to provide retirement income for professors, and its core business remains retirement plan administration and annuity products. It is by far the largest manager of so-called employer-sponsored 403(b) tax-sheltered annuity plans, a defined contribution retirement plan for employees of 501(c)(3) educational, religious, and charitable organizations. The company also offers 401(k) and 457 plans, Keogh plans, and Supplemental Retirement Plans. Contributions from these plans are typically invested in the company's traditional or variable annuities or its line of mutual fundThe central idea of a mutual fund is to enable investors to pool their money and place it under professional investment management. The manager makes the trades, realizing a gain or loss, and collects the dividend or interest income. The investment procees.

At the retail level, TIAA-CREF offers Traditional and Rollover Individual Retirement AccountAn Individual Retirement Account or IRA is a retirement plan account that provides some tax advantages for saving for retirement in the United States. There are a number of different types of IRAs, some being employer provided plans and others usually onls, Roth IRAA Roth IRA is an individual retirement account (IRA) in the United States that provides tax-free growth. A Roth account may be opened through a variety of investment vehicles such as stock or mutual funds. As with all IRAs, there are specific elegibilitys, mutual funds, after-tax annuities and life insuranceLife insurance policies, including pensions and life annuity policies, provide payments depending on the life or the death of a particular person or persons. Life insurance policies are issued in two basic types: term life and permanent life. Term life in (through TIAA-CREF Life), 529 college savings plansA 529 plan is a savings plan in the United States designed to give tax advantages to encourage savings for future higher education costs. It is named after section 529 of the Internal Revenue Code. 529 plans are run by state boards or the organizations th, Coverdell Education Savings AccountAn, Education Savings Account also known as a Coverdell Education Savings account, an ESA or a Coverdell account, is a tax advantaged investment account in the United States designed to encourage savings to cover future college education expenses. The taxs, financial planning, and trust and investment management (through TIAA-CREF Trust Company, FSB).

History

Conservative investing allowed TIAA to survive the 1929 stock market crash and the Great Depression. Faced with high inflation, increasing life expectancies, and a dramatic expansion of the education sector with the G. I. Bill of Rights, TIAA established the College Retirement Equities Fund (CREF), a variable annuity allowing for investment in equities, in 1952.