ProductsAugust 17, 2010

TIAA-CREF Gets Nod by NC School District

<span style="font-family: Arial, Helvetica, sans-serif; font-size: 12px; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(51, 51, 51); background-image: initial; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; font-family: Arial, Helvetica, sans-serif; font-size: 12px; font-weight: bold; font-style: normal; text-decoration: none; text-align: left; vertical-align: baseline; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; line-height: 15px; ">TIAA-CREF has been selected by the Chapel Hill-Carrboro City Schools in North Carolina as a 403(b) retirement plan provider. </h2></span>

Reported by PLANSPONSOR staff

A TIAA-CREF news release said Chapel Hill-Carrboro City Schools has also selected TIAA-CREF’s Compliance Coordinator service, a Web-based tool designed to help plan sponsors with multiple investment providers ensure that all loans and hardship withdrawals comply with applicable regulations.

Chapel Hill-Carrboro City Schools’ 1,500 eligible employees will have access to investment advice through Verity Investments, a Durham, North Carolina-based RIA that works on a fee-for-service basis.

“In reevaluating our retirement plan, it was important to us to find a service to help us simplify administration, even with a reduced number of providers,” said Ruby Pittman, Executive Director of Budget and Finance, Chapel Hill-Carrboro City Schools, in the announcement. “We wanted to ensure our employees had access to high-quality investment advice from local, fee-based Registered Investment Advisors (RIAs) with expertise in 403(b) plans. By adding TIAA-CREF we will be able to help both our participants and the RIAs with whom they choose to work.”