TIAA-CREF Selected by Hamilton College as Sole Recordkeeper
NEW YORK–()–TIAA-CREF, a leading financial services organization, today announced
its selection by Hamilton College as the institution’s exclusive
retirement provider.
TIAA-CREF will now manage Hamilton College’s 403(b) defined contribution
retirement plan, in which 720 employees actively participate. The plan
contains approximately $150 million in assets.
Under the new agreement, funds previously managed by two different
providers will now be managed by TIAA-CREF. Hamilton College will
implement TIAA-CREF’s open-architecture recordkeeping solution, which
simplifies retirement plan oversight and eases many fiduciary challenges
that have arisen from recent regulatory changes.
TIAA-CREF’s sole recordkeeping solution streamlines plan enrollment,
manages employee contributions and tracks transactions related to loans
and withdrawals, giving Hamilton significantly more visibility into its
plan’s management and accounting.
By moving to a sole recordkeeping model, Hamilton can also provide its
employees with a comprehensive view of all the assets in their
retirement plan, which gives employees the ability to make better
decisions regarding their investment mix, risk profile and portfolio
rebalancing.
Hamilton’s employees will also have access to TIAA-CREF financial
advisors, who provide personalized retirement advice tailored to
individual goals at varying life stages. By combining sole recordkeeping
and financial advice, plan members may benefit because sole
recordkeeping provides them with a comprehensive picture of their
retirement plan assets, which they can use in conversations with a
TIAA-CREF financial advisor to help build a successful retirement
investment strategy.
Plan members may take advantage of the plan’s advice offer to meet their
investing needs. TIAA-CREF advisors will be available on campus, over
Article source: PRNewswire
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