Wednesday, September 28, 2011

TIAA-CREF has 70% of the higher education market
TIAA-CREF continues to play its historically important role in providing retirement savings in higher education. The 2009 Form 5500 disclosure data on 40 largest private higher education defined contribution plans shows that the average share of TIAA-CREF in assets is nearly 70%. Within TIAA-CREF, the two oldest investment options, TIAA Traditional Annuity and CREF Stock variable annuity account for 47% and 30% of TIAA-CREF assets.  This means that TIAA Traditional Annuity accounts for nearly one third of all retirement assets in higher education, making it undoubtedly the single largest investment option. Even Federal Reserve Chairman Ben Bernanke, according to his financial disclosure statement, has most of his financial assets in TIAA-CREF - split about evenly between TIAA Traditional and CREF Stock.

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