NEW YORK--(BUSINESS WIRE)--TIAA today announced that Nichols College, based in Dudley, Massachusetts, has selected the financial services provider to be the sole recordkeeper of its 403(b) retirement plan, which includes approximately $35 million in assets.
“Our top priority is to provide a high-quality retirement benefit for our faculty and staff,” said Michael Stanton, Executive Vice President of Administration at Nichols College. “With TIAA as the single plan provider, we can simplify our plan administration and provide cost-effective plan pricing.”
The plan consultant for Nichols College, Aegis Retirement Partners, based in Concord, Massachusetts, completed a thorough review of Nichols’ retirement plan. Under the new agreement, faculty and staff will have access to a diversified, open architecture investment menu of mutual funds and lifetime income options. Aegis will conduct on-site education for employees to help ensure they are on track while pursuing their retirement objectives. In addition, TIAA will provide a streamlined platform that will give employees a consolidated view of their retirement savings since all plan assets are now held at one recordkeeper.
“We look forward to helping faculty and staff at Nichols College confidently prepare for their future,” said Ron Pressman, CEO of Institutional Financial Services at TIAA. “A sole recordkeeper model provides a more holistic look, improving their ability to focus on outcomes and make informed decisions about their retirement readiness.”
With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1 trillion in assets under management (as of 12/31/20172) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
About Nichols College
Nichols College is a college of choice for business and leadership education as a result of its distinctive career-focused and leadership-based approaches to learning, both in and out of the classroom. Founded in 1815, Nichols transforms today’s students into tomorrow’s leaders. Nichols serves students interested primarily in a comprehensive business education that includes a strong liberal arts foundation curriculum.
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Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.
©2018 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY 10017
|1 The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for eligible funds over the three-year period ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37), 11/30/16 (34) and 11/30/17 (34) with at least five equity, five bond, or three mixed-asset portfolios. Note this award pertains to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters Lipper Awards, © 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance, rankings and prospectuses, please visit the Research and Performance section on TIAA.org. Securities offered through Nuveen, LLC, and TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC.|
|2 Based on assets under management across Nuveen Investments affiliates and TIAA investment management teams as of 12/31/17.|