Products December 19, 2007

TIAA-CREF to Launch Online Retirement Community for Participants

TIAA-CREF announced the upcoming launch of an online community for participants to discuss their retirement-related interests, experiences, and concerns.
Reported by

Myretirement.org will launch in February 2008 and will be the first online community hosted by a financial services company that is exclusively for clients who are either retired or nearing retirement, a press release said. The site will offer a forum for TIAA-CREF participants ages 50 and older to discuss topics such as health and fitness, volunteering and social activism, education and travel, money and work, family and friends, and more.

Community members will create profiles and connect with fellow members who share their interests, experiences, backgrounds, and likes or dislikes. Each forum will be hosted by a Role Model, a retired TIAA-CREF participant who volunteers to share his or her perspective on the forum topic.

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TIAA-CREF participants will be invited to membership in the community beginning in February.

TIAA-CREF provides retirement services to sponsors and participants in the academic, research, medical, and cultural fields.

More information is at www.tiaa-cref.org.

Deals & People December 19, 2007

Principal Scoops up Atlanta Actuarial Firm

The Principal Financial Group has agreed to acquire Retirement Consulting Actuaries, Inc. (RCA).
Reported by

A Principal news release said the deal fits with its commitment to defined benefit actuarial consulting. The company said its objective is to grow its field-deployed actuarial consulting expertise and expand its national consulting footprint.

The transaction is expected to close on January 1, 2008 and terms were not disclosed.

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RCA, an Atlanta-based regional actuarial and consulting firm with five actuaries, provides defined benefit actuarial, administrative, and consulting services to nearly 100 corporations and professional firms throughout the region, according to the release.

“Given the rapid pace of change particularly in the complex defined benefit marketplace, employers and financial professionals today require specialized assistance to determine the optimal scenario for their defined benefit plan,” said Paul Brown, vice president of the Institutional Market Segment, Retirement & Investor Services at The Principal, in the announcement.

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