Products February 24, 2012
Wellesley College Partners with TIAA-CREF to Expand Investment Menu
February 24, 2012 (PLANSPONSOR.com) - Wellesley College and TIAA-CREF are working together to re-launch the school's retirement program by offering employees an expanded menu of investment options.
Reported by Rebecca Moore
TIAA-CREF will now serve as the sole provider for the college’s 403(b) defined contribution retirement plan. The new investment menu features a slate of low-cost mutual fund options as well as a self-directed mutual fund brokerage account for employees who wish to invest in funds that are not on the new investment menu. The plan will continue to offer participants objective advice through TIAA-CREF Advice and Planning Services.
“TIAA-CREF was the right partner for us because of the full suite of investment capabilities, cost-effective compliance services, and the participant educational and advisory services they offer,” said Eloise McGaw, assistant vice president and director of human resources and equal opportunity for Wellesley College. “These changes to our investment menu will benefit plan participants while also enabling Wellesley College to more effectively comply with the new 403(b) plan regulations and our fiduciary responsibility.”