PRIVATE ASSET MANAGEMENT AND TRUST SERVICES
Upcoming SlideShare
Loading in...5
×
 

PRIVATE ASSET MANAGEMENT AND TRUST SERVICES

on

  • 751 views

 

Statistics

Views

Total Views
751
Views on SlideShare
751
Embed Views
0

Actions

Likes
0
Downloads
18
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

PRIVATE ASSET MANAGEMENT AND TRUST SERVICES PRIVATE ASSET MANAGEMENT AND TRUST SERVICES Document Transcript

  • PRIVATE ASSET MANAGEMENT AND TRUST SERVICES USINg A PROFESSIONAL TEAM TO MANAgE AND HELP PROTECT YOUR FINANCES
  • TIAA-CREF: FInAnCIAl sERvICEs FoR ThE gREATER good. oUR hIsToRY We are TIAA-CREF. A $400 billion full-service financial services company that has dedicated itself to helping those in the academic, medical, cultural and research fields for 90 years. Our clear and long-held commitment to serving the financial best interests of those who serve the benefit and enlightenment of others has never and will never change. oUR gUIdIng PRInCIPlEs With our strong non-profit heritage, we have long subscribed to a different set of guiding principles: principles directly influenced by the people we serve. As a result, we take a different view on performance. It all begins with a commitment to seek consistent, long-term performance and solid returns. But we think true performance is about more than returns alone. True performance is about providing our knowledge and expertise to help our participants maximize their investable assets. It’s about striving to keep our fees low to ensure more of our participants’ money is working hard for them. It’s about offering personalized, objective advice by non-commissioned consultants* to help ensure our participants’ best interests are always being served. And it’s about offering retirement income solutions that guarantee our participants won’t outlive their income. ** oUR MIssIon The mission we embarked on in 1918 still rings true today. TIAA-CREF is dedicated to serving the retirement needs of those who serve the greater good. We are there when our participants begin their careers helping others. And we will be there to guide them to and through their retirements. *Our Advisors receive no commissions. They are compensated through a salary plus incentive program that focuses on client service excellence. **Guarantees are based on the claims paying ability of the issuer.
  • Changing tax laws, unpredictable markets and seemingly endless investment options can impact your wealth, and your goals for the future. TIAA-CREF Trust Company can help you navigate these issues with ease, whether you decide to establish a trust, or simply select a customized portfolio through our Private Asset Management team. Consider these scenarios: J Are you looking for customized management of your assets? Are you comfortable turning over portfolio decisions to a team of investment professionals? J Do you want to find the most effective way to plan your estate, give to charitable organizations, reduce tax liability, manage family expectations or delegate fiduciary responsibility to a trusted partner? J Would you like to simplify the management of your financial affairs in areas like bill payment, income collection, tax preparation and cash flow analysis? Our comprehensive range of services provides custom investment solutions for individuals and families in these and other circumstances. Choosing to work with tiAA-CrEF trUst CoMPAnY TIAA-CREF Trust Company can help you manage your current finances and create strategies to help you achieve your future goals. Unlike many other financial services companies, we offer access to trusts and private asset management, including a dedicated Portfolio Manager, at significantly lower investment levels. In addition, members of your portfolio management and service team coordinate with other professionals in your advisory network to ensure that we take a comprehensive, holistic approach to your financial planning. These advisors could include accountants, tax professionals, attorneys and insurance experts, as well as your TIAA-CREF Advisor or Consultant if you are currently working with one. PRIVATE ASSET MANAGEMENT AND TRUST SERVICES 1
  • tiAA- CrEF PrivAtE AssEt MAnAgEMEnt TRULY CUSTOMIZED PORTFOLIO MANAGEMENT When you work with TIAA-CREF Private Asset Management, we tailor a portfolio to address your unique circumstances and help you achieve your goals. We’ll help you continue to build your portfolio and, if you’d like, consolidate appropriate investments that you currently have with other providers. Your dedicated Portfolio Manager and his or her support team will begin the process by understanding your financial situation thoroughly. Several of the many variables that we analyze include: J financial and life goals J income tax bracket J current investments and financial profile J comfort level with risk and prior investment experience J time horizon for meeting investment and financial goals J desired level of involvement in managing your finances From this discussion, we create an Investment Policy Statement that captures these goals and establishes clear investment guidelines for all your activities with us. AssEt AlloCAtion: thE ProvEn FoUndAtion For invEsting Our investment philosophy focuses on strategic, long-term asset allocation with exposure to most asset classes and industry sectors. We look to grow and preserve the assets you’ve already accumulated, and seek to reduce risk by diversifying your portfolio. In selecting the different kinds of investments to include in your portfolio, your Portfolio Manager will seek to choose the right mix of investments for you. Your mix may include individual stocks, bonds, mutual funds and exchange-traded funds (ETFs) from other world-class providers. Your portfolio may also include both domestic and international investments, exposure to equities of companies of various sizes, investments utilizing value and growth styles, and a range of taxable and tax-exempt bonds. Our highly customizable approach seeks diversification and addresses tax issues over the long term. We use a mix of quantitative and qualitative processes to help your investments achieve the goals you’ve established. The team follows an extensive due diligence process to evaluate and monitor any outside money managers, as well as any investments we select for your portfolio. The team conducts its analysis using the latest investment tools and independent research, and rebalances your portfolio when needed to help make sure you stay on track. 2
  • A CollAborAtivE And ongoing PlAnning ProCEss Your portfolio management and service teams use a disciplined approach to determine your unique investment objectives, build your customized portfolio and continuously monitor and communicate results to you over time. .. . .. .. . . ....... ....... ... ....... stEP UndErstAnd YoUr nEEds 1 Review current portfolio; identify assets and liabilities ...... stEP EstAblish invEstMEnt objECtivEs 2 Conduct financial needs analysis; establish goals and objectives ....... ....... stEP dEtErMinE YoUr AssEt AlloCAtion ....... 3 Decide percentage of portfolio to invest in equities, fixed income, cash and, in some cases, real estate, with consideration of tax situation, risk tolerance, income needs and personal preferences ....... ....... stEP sElECt And bUY sPECiFiC invEstMEnts ....... 4 Create customized portfolios of individual securities, mutual funds and other pooled investments ....... ....... stEP AnAlYzE And CoMMUniCAtE rEsUlts 5 Review current situation; refine goals; monitor and communicate results ....... ...... stEP rEbAlAnCE PortFolio ....... 6 Adjust strategy and asset selections as required .... .. . . .. ... PRIVATE ASSET MANAGEMENT AND TRUST SERVICES 3
  • bUilding YoUr PortFolio The chart below provides details on steps 3 and 4 of the planning process, in which the team constructs your individual portfolio. Your Portfolio Manager works with you to understand your tax situation, risk tolerance, income needs and personal preferences. The team then builds your custom portfolio, first determining the appropriate asset allocation, then selecting and buying specific investments. .. . ... . .. ... step UndErstAnd YoUr nEEds ....... ....... 1 Review current portfolio; identify assets and liabilities ....... ....... stEP EstAblish invEstMEnt objECtivEs 2 Conduct financial needs analysis; establish goals and objectives ....... ....... stEP dEtErMinE YoUr AssEt AlloCAtion 3 Decide percentage of portfolio to invest in equities, fixed income, cash and, in some cases, real estate, ....... with consideration of tax situation, risk tolerance, income needs and personal preferences ... Equities Fixed income Cash real Estate* ....... ... stEP sElECt And bUY sPECiFiC invEstMEnts 4 ....... Create customized portfolios of individual securities, mutual funds and other pooled investments TIAA-CREF managed TIAA-CREF managed Taxable money Select actively-managed .... equity portfolio fixed-income portfolio market funds real estate mutual funds ....... Select actively-managed Custom laddered portfolio Tax-exempt money Real estate ....... equity mutual funds of individual bonds market funds index mutual funds (U.S. and International) ....... Select actively-managed Real estate Equity index bond mutual funds exchange-traded funds ....... mutual funds (U.S. and International) (U.S. and International) ....... Bond index mutual funds Equity exchange - (U.S. and International) ....... traded funds Bond exchange - ....... (U.S. and International) traded funds ....... (U.S. and International) ....... ........... stEP AnAlYzE And CoMMUniCAtE rEsUlts 5 Review current situation; refine goals; monitor and communicate results ....... ....... stEP rEbAlAnCE PortFolio .... ....... 6 Adjust strategy and asset selections as required .... ... ... *Optional component for specialized portfolios 4
  • how PrivAtE AssEt MAnAgEMEnt MAnAgEs EQUitY invEstMEnts Equities are a critical part of most individuals’ portfolios. At TIAA-CREF Trust Company, your Portfolio Manager works closely with you to determine the right amount to allocate to stocks, stock funds or other investment vehicles based on your objectives and your comfort with risk. We use both individual investments and pooled investments to construct a portfolio based on what your asset allocation requires, with the goal of outperforming the S&P 500 and other market indices as appropriate. When suitable for your goals, your Portfolio Manager may invest in individual securities based on our proprietary model for selecting the best large U.S. companies. We look at all the major sectors of the market, from consumer goods to financial services to health care and everything in between. Within each sector of the S&P 500, we undertake a thorough quantitative and qualitative analysis of each company’s stock based on the following criteria: J the company’s intrinsic value J any recent changes in shares outstanding, capital spending and profitability J changes in earnings and stock price J returns on capital in excess of capital costs This analysis results in a “best-in-class” selection of companies in each sector, from which we can build your custom portfolio. We look to keep your portfolio diversified across all sectors to match the S&P 500 Index, with variations kept within a narrowly-defined range. Generally, we choose companies whose market capitalization exceeds $3 billion and, as always, we build your portfolio with careful consideration of your tax situation, risk tolerance and investment objectives. As your personal circumstances or the markets change, we work closely with you to make appropriate modifications to your strategy. The personal attention paid by your Portfolio Manager also helps you avoid “over-diversification,” which can water down returns over time by duplicating holdings and overexposing you to a particular company or sector. For example, some affluent consumers invest in many different mutual funds at once, which means that their assets are likely to be invested in the same companies over and over. Our customized, disciplined approach reduces the likelihood of this duplication occurring. 5
  • how PrivAtE AssEt MAnAgEMEnt MAnAgEs FixEd-inCoME invEstMEnts Fixed-income investments have historically experienced fewer ups and downs than equities, and are generally part of a well-diversified portfolio. Your Portfolio Manager determines the appropriate amount of your portfolio to allocate to fixed-income securities. The Private Asset Management Fixed Income Team then begins to build this portion of your portfolio, and may select from a wide array of fixed-income securities including individual bonds, U.S. and international actively-managed funds, index or index-like mutual funds and exchange-traded funds. In some circumstances, the Fixed Income Team may include a separate portfolio of actively- managed fixed-income investments to generate potentially higher returns, help reduce risk, balance your overall mix of investments and achieve your goals. When constructing this specialized fixed-income portfolio, we analyze the macroeconomic environment, including government fiscal and monetary policy, and other political and economic factors, such as inflation, interest rates, yield-curve shape and market volatility, both in the U.S. and abroad. From there, we conduct a thorough analysis of each security using a clearly-defined process governed by a singular focus on risk management. This process includes: J choosing an appropriate mix of investments across bond qualities, security types and duration J utilizing all industry sectors from the S&P 500 when investing in corporate bonds J considering various pricing structures, as well as variables such as coupons, maturity and embedded call options J continuously monitoring your portfolio holdings and making strategic adjustments as necessary to maximize income generation and potential returns Throughout the process, we consider your tax situation, and may include tax-exempt bonds if they will help achieve your after-tax goals. 6
  • A CUstoM PortFolio For EvErY tYPE oF individUAl MArtin, 46 lYdiA, 59 dAvid, 70 new to tiAA-CrEF Current tiAA-CrEF participant retired tiAA-CrEF participant Profile: Entrepreneur who built medical Profile: Full professor at a major university; Profile: Physician who stopped working five devices company around his invention; has two grown children with her husband, years ago; married with grown children married with three teenage children an artist Current annual income: $300,000 Current annual income: $150,000 Current annual income: $225,000 sources of wealth: sources of wealth: sources of wealth: J current $10 million stake in business J disciplined savings program through J 403(b) from hospital J equity taken out of business in prior years university’s 403(b) program J SEP-IRAs from private practice J two large brokerage accounts, several IRAs J outside consulting income J various investment and brokerage accounts J owns primary home J significant mutual fund advisory account J owns primary home and a vacation home with a regional bank Financial goals: Financial goals: J husband has an IRA and a brokerage grow assets J simplify finances by consolidating assets account J and having a single point of contact J tax-efficient investing Financial goals: J establish trustee relationship where J fund children’s college education grow assets to protect against inflation investment professional can manage his J J possibly sell remaining interest in business J generate adequate retirement income family’s affairs if needed to his partners J customized investment management investment experience: investment experience: used to be more aggressive, taking a investment experience: J J focused on his business until recently moderate approach as he grows older J tends to be conservative J comfortable with taking risk researches broker’s recommendations most experience is with mutual funds J J through retirement plans prior to approval of purchase or sale risk profile: Aggressive J has dabbled in online trading risk profile: Conservative risk profile: Moderate Portfolio solution: $3.5 million Portfolio solution: $1.9 million Portfolio solution: $5.2 million 66% Equity 35% Equity 55% Equity Domestic Large Cap Core 36% Domestic Large Cap Core 22% Domestic Large Cap Core 30% 19%Domestic Small CapFixed Income Investment Grade 11% 60%Domestic Small Cap 6% Income Investment Grade Fixed 28%Domestic Small CapFixed Income Investment Grade 9% 7%Domestic Micro Cap 6% High Yield Fixed Income 0%Domestic Micro Cap 0% High Yield Fixed Income 10%Domestic Micro Cap 5% High Yield Fixed Income 36%International Large Cap 7% Equity Domestic Large Cap Core 22%International Large Cap 4% Equity Domestic Large Cap Core 30%International Large Cap 6% Equity Domestic Large Cap Core 11%International Small Cap 3% Domestic Small Cap Equity 6%International Small Cap 3% Domestic Small Cap Equity 9%International Small Cap 3% Domestic Small Cap Equity 6%Emerging MarketsCap Equity Domestic Micro 3% 0%Emerging MarketsCap Equity Domestic Micro 0% 5%Emerging MarketsCap Equity Domestic Micro 2% 26%7%Fixed Income Large Cap Equity International 4% International 60% Fixed IncomeLarge Cap Equity 6% International 38% Fixed Income Large Cap Equity 3%Investment Grade 19% Equity International Small Cap 3%Investment Grade 60% Equity International Small Cap 3%Investment Grade 28% Equity International Small Cap 3%High Yield 7% Emerging Markets Equity 0%High Yield 0% Emerging Markets Equity 2%High Yield 10% Emerging Markets Equity 8%8%Real Estate Real Estate 5% Real Estate 5% Real Estate 7% Real Estate 7% Real Estate Martin’s TIAA-CREF team has developed an Lydia and her TIAA-CREF team have agreed David has opted to establish a trust along with an aggressive growth solution. This portfolio to an income and growth solution. The Investment Advisory account. With this account, seeks growth through individual stocks for TIAA-CREF team constructed a customized the TIAA-CREF team obtains his approval before the large-cap core allocation, supplemented portfolio of mutual funds, exchange-traded placing trades. His growth and income solution with broadly diversified mutual funds and funds and individual securities. It includes includes a large-cap core portfolio of individual exchange -traded funds for the small-cap, a substantial allocation to investment- stocks due to his interest and experience level. international and real estate components. grade, fixed-income vehicles to suit Lydia’s The objective behind this strategy is to grow the Fixed-income exposure is obtained through conservative nature. The high-quality, fully assets for his estate to ultimately benefit his a managed individual bond portfolio along diversified fixed-income portfolio is designed children, with generation of some current income with inflation-protected and high-yield bond to provide more stable income-oriented as a secondary goal. funds. Since he is already receiving substantial investments for retirement income. The income, Martin should not need to tap into growth-oriented equity investments will this portfolio, which may be subject to continue to grow her principal as a hedge significant fluctuation. against inflation. the profiles above were created to show how tiAA-CrEF trust Company works with each client to create a portfolio tailored to his or her financial situation. these examples are fictional and for illustrative purposes only. Your Private Asset Management team will work with you to develop your personalized portfolio. 7
  • tiAA-CrEF trUst sErviCEs A SMART CHOICE TO HELP REDUCE TAxES AND PROTECT YOUR INTERESTS Many people assume trusts are only for the ultra-wealthy, but that is a misconception. So how do you know if a trust is right for you and your loved ones? Simply defined, a trust is a legal relationship where a person transfers legal oversight and responsibility for financial assets and other physical properties to another individual or institution. The decision to establish a trust represents a big step in your financial life. To help you make an informed decision, we’ve put together the following list of common circumstances in which people consider establishing a trust: J You and /or a family member have accumulated significant assets and do not have the time or desire to manage them on your own. J You have (or anticipate having) complex estate planning requirements, or simply want to minimize estate taxes and probate costs that are often incurred when transferring assets through a will. J You are concerned that your will may be challenged in court. J You want to provide for professional management of your assets in the event of your incapacity or death. J You want to establish a professionally administered program for charitable giving or other philanthropic activities. J You want to provide for children from a previous marriage or children with special needs. J You want to influence how your beneficiary uses his or her inheritance. From a legal standpoint, there are a number of options from which to choose when you decide to establish a trust. Acting on your behalf, TIAA-CREF Trust Company can assume various capacities, including: J sole (or current) trustee J co-trustee, working alongside another individual or institution J successor trustee, after another individual or institution transfers ownership and management of your assets and property to us TIAA-CREF Trust Company provides expertise in establishing and managing a range of trust types, each of which we’ve summarized in the table to the right. 8
  • trUst tErMs YoU shoUld know grantor beneficiary trustee Assets/Property terms The person who The person or entity The person or The elements used The specific rules establishes the who will receive institution to whom to fund a trust: and regulations trust, and who assets or property the grantor has securities, bonds, established by the owns the assets according to the transferred legal mutual funds, cash, grantor (in consulta- or other property terms of the trust. oversight and other investment tion with the trustee) that will become responsibility for portfolio holdings, that govern the part of the trust. the assets and insurance policies, management, property. The trustee real estate, artwork administration and can make decisions and other high-value distribution of the on behalf of the physical objects. assets/property grantor regarding of the trust. management and administration. which trust is right for you? living trust J may reduce estate taxes J may shorten estate settlement time frame J enhanced privacy (not public record like probate documents) J revocable or irrevocable testamentary J holds assets for the benefit of a spouse, child or others trust J revocable until death J amendments made simply by changing the will J assets subject to estate taxes irrevocable life J tax-free benefits go to surviving spouse and /or beneficiaries insurance trust J provides liquidity for estate taxes or other needs J must be irrevocable to receive tax benefits (grantor must relinquish control) Charitable J may reduce capital gains and estate taxes remainder trust J grantor transfers assets to a trust to benefit chosen charity J grantor receives a current charitable deduction for the computed value of the gift, if made during lifetime J trust pays out income to designated beneficiary (grantor or others), either for life or a period of years J upon the death of the last income beneficiary, or at the end of the term, charity receives trust property Charitable J may reduce capital gains and estate taxes lead trust J grantor transfers assets to a trust to benefit chosen charity J grantor receives a current charitable deduction for the computed value of the gift, if made during lifetime J trust pays out income to a designated charity for a specific time period J at the end of the trust term, specified beneficiaries receive the remaining trust property PRIVATE ASSET MANAGEMENT AND TRUST SERVICES 9
  • how wE work with YoU COLLABORATING FOR YOUR FINANCIAL SUCCESS Our commitment to outstanding client service drives everything we do. From the beginning, we establish a team of senior professionals who will manage all aspects of your financial relationship with us. In addition, members of the core team often work in close consultation with other TIAA-CREF wealth management professionals and select outside advisors. Through in-person consultations, telephone conferences and electronic communications, we ensure that you have regular access to your team for questions and expert advice. We also offer a full complement of Web-based tools that allow you to monitor your portfolio and its holdings. Throughout your ongoing relationship, your Portfolio Manager continually focuses on maximizing your portfolio’s returns based on your needs, risk tolerance and investment objectives. Working together with the Portfolio Manager, Account Administrative Specialists oversee and coordinate the following types of activities: J trust administration J consolidated asset reporting J client consultations J cash management and bill payment J coordination with other advisors and external professionals sEAMlEss PArtnErshiP with YoUr trUstEd Advisors Whether you have an existing TIAA-CREF relationship or not, your team will collaborate with any number of other advisory professionals who provide counsel and strategic advice on your financial affairs, including experts in the following areas: tax and accounting services, insurance coverage, estate planning, retirement strategies, charitable gifts and legal services. Our dedicated teams provide ongoing advice and integrated planning to ensure that we develop a comprehensive, holistic understanding of your current and future financial needs, and continue to address each unique aspect of your financial life. 10
  • siMPliFY YoUr liFE with An ArrAY oF hElPFUl sErviCEs Whether or not you’ve chosen to establish a trust, you can take advantage of a number of TIAA-CREF Trust Company’s services to reduce complexity in your financial life. We are able * to manage a number of financial activities and responsibilities on your behalf, including: J paying bills J managing cash flow J collecting dividends, interest and other income J keeping records J protecting physical and financial assets If you choose to establish a trust with us, we can also assume responsibility for preparing your annual trust tax return and all associated documentation, paying beneficiaries, overseeing your real estate interests, distributing principal and income payments, and administering funding for complex trusts. For those with significant assets and more complex needs, we offer stock option and gift planning analysis, education planning and other specialty services. *Additional fees may apply PRIVATE ASSET MANAGEMENT AND TRUST SERVICES 11
  • tiAA-CrEF: FinAnCiAl sErviCEs For thE grEAtEr good. Why TIAA- CREF? oUr historY As one of the nation’s largest financial organizations, we’ve served We are TIAA-CREF. A $400 billion full-service financial services company that has dedicatedacademic, medical, cultural andmedical, cultural those in the itself to helping those in the academic, research fields since 1918. and research fields for 90 years. Our clear and long-held commitment to TIAA-CREF Trust Company manages or administers over $6 billion in assets serving the financial best interests of those who serve the benefit and and is an important component of the overall organization. Our goal is to enlightenment of others has never and will never change. help you make the most of the wealth you’ve accumulated. When you work oUr gUiding PrinCiPlEs Company, you’ll enjoy these benefits: with TIAA-CREF Trust With our strong non-profit heritage, we have long subscribed to a different J OUTSTANDING CLIENT SERVICE. We provide you with an experienced team of senior set of guiding principles: principles directly influenced by the people we serve. investment and administrative professionals. You receive a level of personalized service and access that many firms either don’t offer, or reserve only for a handful As a result, we take a different view on performance. It all begins with a of top clients. commitment to seek consistent, long-term performance and solid returns. But we thinkOF mIND. TIAA-CREF has had a reputation for alone. True J PEACE true performance is about more than returns operating with the highest level performance is about providing Our knowledge governance standards go beyond what is of integrity for 90 years. our corporate and expertise to help our participants maximizeand our financial stability provides a sound foundation for your future. required of us, their investable assets. It’s about striving to keep our fees low to ensure more of our participants’ money is working hard for J COmPREhENSIVE INVESTmENT CAPAbILITIES. We offer an array of investment options them. It’s about offering personalized, objective advice by non-commissioned consultants* your needs. Our team of experts has the knowledge, experience and talent to to meet to help ensure our participants’ best interests are always being served. achieve your objectives. help you And it’s about offering retirement income solutions that guarantee our hISTORICAL won’t outlive theirCOmPETITIVE FEES. Our services are reasonably J STRONG participants RETURNS WITh income.** priced, and we offer a disciplined long-term investment approach that makes sense oUr for investors who seek relative stability and value. Of course, past performance is no Mission The mission we of future returns. guarantee embarked on in 1918 still rings true today. TIAA-CREF is dedicated to serving the retirement needs of those who serve the greater good. We are there when can participants begin their careers helping CONVENIENCE. You our simplify your financial life by working with just one team: your J team of TIAA-CREF professionals. others. And we will be there to guide them to and through their retirements. There may be tax consequences associated with a transfer of assets. Nondirect transfers may be subject to taxation, *Our Advisors receive no commissions. They are compensated through a salary plus incentive surrender charges and penalties. Consult with your tax advisor regarding your particular situation. program that focuses on client service excellence. **Guarantees are based on the claims paying ability of the issuer. PRIVATE ASSET MANAGEMENT AND TRUST SERVICES 12
  • We encourage you to contact your TIAA-CREF Advisor, Consultant or Trust Company representative to discuss this information and review next steps. If you currently do not have a dedicated TIAA-CREF contact, please call 888 842-9001 and we will put you in touch with someone who can help.
  • Investment products are not FDIC insured, may lose value, and are not guaranteed. Investment products are not deposits or other obligations of TIAA-CREF Trust Company, FSB; are not guaranteed by TIAA-CREF Trust Company, FSB; and are subject to investment risks, including possible loss of principal invested. The tax information contained in this booklet is not intended to be used and cannot be used by any taxpayer for the purpose of avoiding tax penalties. It was written to support the promotion of TIAA-CREF Trust Company, FSB. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. © 2008 TIAA-CREF Trust Company, FSB, One Metropolitan Square, 211 North Broadway, St. Louis, MO 63102 C41507 A36844 (8/08)