TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA

The Teachers Insurance & Annuity Association of America is a trade association based out of New York, New York. The company can trace its history back to its establishment in 1918 by Andrew Carnegie through the Carnegie Corporation of New York and Carnegie Foundation. The organization and has been providing a variety of life insurance and annuities products and services to teaching fields, which not only includes academia and research but also medical and cultural fields. Teachers Insurance & Annuity Association of America, also known simply as TIAA for short, works closely with the College Retirement Equities Fund, or CREF for short. Collectively, the two organizations are known as TIAA-CREF and operates as a full service financial services company. TIAA-CREF employs approximately 13,000 employees in over 150 offices in the United States and managements over $800 billion in total assets under management. The organization serves over 3.7 million clients in institutional retirement plans and serves over 5 million total individuals, marketing its products and services to clients through employers. The Teachers Insurance & Annuity Association of America invests most heavily in the real estate sector, which alone makes up over half of its total asset allocations, and also invests in the utilities and telecommunications, energy, information technology, other, finance, and consumer staples sectors, among others to a lesser degree, in order of decreasing allocation. TIAA’s top 10 holdings together make up over a third of its total holdings and the organization has a relatively low turnover rate of approximately 6.5%. The Teachers Insurance & Annuity Association of America is currently headed by Robert G. Leary J. D., who acts as the CEO, with Stephen B. Gruppo acting as the CRO and Director and Chairman of the investment subcommittee. TIAA is currently one of the highest rated insurance companies in the United States.