TIAA was the vision of the philanthropist Andrew Carnegie — and founded in 1918 through his Carnegie Corporation of New York and the Carnegie Foundation with the goal of supporting the financial well-being of college teachers through a pioneering system of annuities and low-cost life insurance.
Between 1940 and 1950, holders of TIAA annuities faced skyrocketing inflation that almost halved the purchasing power of their annuity checks. They studied the problem and came up with an innovative approach that added common stocks for retirement savings and income. In 1952 they introduced the world's first variable annuity, now known as the CREF Stock Account.
Since 1918, TIAA-CREF participants have received a total of $316.8 billion in annuity payments and other benefits. Today they offer a full range of financial services to meet the needs of people in the academic, medical, governmental, research and cultural fields.
Military Recruiting Programs:
TIAA-CREF has enormous respect for military service and understands the valuable knowledge and leadership abilities that military veterans possess.
To support the 100,000 Jobs Mission, TIAA-CREF will partner with other companies in the coalition to share best recruiting and employment practices and report hiring results.
Their Military Veterans Employee Resource Group (MVERG) is an employee-run and founded resource group that's open to all employees who are passionate about supporting and advocating for veterans and their spouses.
The mission of the MVERG is to:
- Elevate the success of our company by providing recognition, development and networking opportunities to employees with military experience.
- Support the families of veterans.
- Serve the overall veteran community.
The MVERG has five chapters in these TIAA-CREF office locations:
- New York
- San Francisco