CREF Holds Annual Meeting
July 21, 2010 05:02 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--The College Retirement Equities Fund (CREF), the companion
organization to the Teachers Insurance and Annuity Association, held its annual meeting yesterday at the
organization’s headquarters in New York City.
“In the midst of continued economic uncertainty, TIAA-CREF remains focused on helping our clients achieve their
lifetime financial goals,” said chief executive Roger W. Ferguson, Jr. “Market volatility of the past year reinforces the
importance of TIAA-CREF’s long-term investment strategy and emphasis on providing objective advice and
guidance to help clients navigate the uncertainty and stay on track.
Mr. Ferguson added: “Over the past year we continued to deliver value for clients. Thanks to disciplined cost
management the expenses on CREF accounts today are about 25 percent less than they were two years ago. We
also reinforced the financial strength of TIAA, the insurance company that backs TIAA Traditional and our other
guaranteed products, and broadened outreach with our Spanish-language initiative and a growing presence in social
In the last eight months, all four leading independent insurance company ratings agencies – S&P, Moody’s, Fitch,
and A.M. Best – have reaffirmed their highest financial strength ratings for TIAA.1
In meeting-related actions, CREF participants:
l Elected Trustees Forrest Berkley, Nancy A. Eckl, Eugene Flood, Jr., Michael A. Forrester, Howell E.
Jackson, Nancy L. Jacob, Bridget A. Macaskill, James M. Poterba, Maceo K. Sloan, and Laura T. Starks to
one-year terms; and
l Ratified the Trustees' selection of PricewaterhouseCoopers LLP as CREF's independent auditors for the
fiscal year ending December 31, 2010 (approximately 94 percent for, two percent against and three percent
abstaining; all voting results are preliminary, but are expected to be within one percent of final tallies).
In addition, TIAA, with $204.6 billion (as of