Teachers Insurance
and Annuity Association of America (TIAA)
History
In 1918, Andrew Carnegie and his Carnegie
Foundation for the Advancement of Teaching, under the
leadership of Henry S. Pritchett, created the Teachers Insurance and Annuity Association
of America (TIAA), a fully funded system of pensions for professors.
Funding was provided by a combination of grants from the foundation and Carnegie
Corporation of New York, as well as ongoing contributions from
participating institutions and individuals.
In 1921, the policyholders voted to nominate Professor
Samuel M. Lindsay of Columbia University to represent them on the TIAA board of
trustees. Policyholder representation on the TIAA board was consistent with the
Carnegie Foundation desire that educators assume a role in running the
organization.[7]
Conservative investing allowed TIAA to survive the 1929 stock market crash and the Great Depression.
In 1933, Albert Einstein became a
participant, a fact that TIAA–CREF later used in a notable 2001 advertising
campaign.[8]
After World War II, in reaction to rising inflation and
lengthening life expectancies, and a dramatic expansion of the education sector
with the G.I. Bill, TIAA
recognized the need for its participants to invest in equities in order to
diversify their retirement funds. In 1952, TIAA created the College
Retirement Equities Fund (CREF), a variable annuity,
for that purpose.
On June 15, 2007, TIAA became one of the first U.S.
companies to voluntarily adopt, and the first to implement, a policyholder
advisory vote on executive compensation policy.
On August 12, 2008, TIAA–CREF announced the opening of a
new office in London. The office will be staffed by local investment
professionals who will extend TIAA–CREF Global Real Estate's activities in the
United Kingdom and Europe.
On September 7, 2008, Herb Allison,
the former chairman and CEO of TIAA–CREF, was tapped to lead beleaguered home
mortgage backer Fannie Mae,
as part of a government bailout engineered by U.S. Treasury
Secretary Henry Paulson.
On September 14, 2012, TIAA–CREF bought Festival Place, a
shopping center in Basingstoke,
England for £280
million.
On May 16, 2013, TIAA–CREF purchased a 50% stake in the Grand Canal Shoppes, including the Shoppes at the Palazzo, in Las Vegas for net
proceeds of $410 million USD as part of a new joint venture with General Growth Properties. GGP
will continue to oversee the asset management of the project.
On April 14, 2014, TIAA–CREF announced that it would
acquire Nuveen Investments in a deal valued
at $6.25 billion.[9]
On February 22, 2016, TIAA-CREF rebranded as simply TIAA as part of a new marketing and
imaging campaign. CMO Connie Weaver explained that the old name was perceived
by customers as being complicated, and that the new branding scheme was meant
to portray a simpler and friendlier image of the organization.[10][11]
On August 8, 2016, TIAA reached a deal to buy EverBank
Financial Corp. for $2.5 billion in cash.
TIAA-CREF Lifecycle Funds – A Simple Choice
Teachers Insurance and Annuity Association of America
(TIAA)
Herbert M.
Allison Jr. was the chairman & president & CEO for TIAA, the president & COO at the Merrill Lynch & Co., Inc. (Bailout Company), an assistant secretary for the U.S. Department of the Treasury for the
Barack Obama administration, the president
& CEO for Fannie Mae (Bailout Company),
and a director at the Atlantic Council
of the United States (think tank).
Note: Robert M.
Clements was a VP at the Merrill
Lynch & Co., Inc. (Bailout Company),
and is the chairman & CEO for the EverBank
Financial Corp. (Bailout Company).
Open
Society Foundations was a funder for the Atlantic Council of the United States (think tank), and the Carnegie Endowment for International Peace (think tank).
George
Soros is the founder & chairman for the Open Society Foundations, and was the chairman for the Foundation
to Promote Open Society.
Foundation
to Promote Open Society was a funder for the Brookings Institution (think tank), the International Rescue Committee, the Carnegie Endowment for International Peace (think tank), the Urban Institute (think tank), and the NAACP Legal Defense & Educational Fund.
Cameron F. Kerry
is a fellow at the Brookings Institution
(think tank), and
John
F. Kerry is Cameron F. Kerry’s
brother, married to Teresa Heinz Kerry,
and the secretary at the U.S. Department
of State for the Barack Obama
administration.
Teresa Heinz
Kerry is an honorary trustee at the Brookings
Institution (think tank), married to John
F. Kerry, an emeritus life trustee at the Carnegie Mellon University, the chair for the Heinz Endowments, the vice chair for the H. John Heinz III Center for Science, Economics and the Environment,
and a trustee emeritus for the Carnegie
Museums of Pittsburgh.
David O. Maxwell
was an honorary trustee at the Brookings
Institution (think tank), a chairman & CEO for Fannie Mae (Bailout Company), and is a life trustee at the Urban Institute (think tank).
Frank V. Cahouet
is an emeritus life trustee at the Carnegie Mellon University, was a
director at the Heinz Endowments,
and the president & COO for Fannie
Mae (Bailout Company).
Rita R. Colwell
was a trustee at the H. John Heinz III
Center for Science, Economics and the Environment, and a leadership council
member for the National Academy of
Sciences.
Robert C. Merton
was a member of the National Academy of
Sciences, and a trustee at the College
Retirement Equities Fund (CREF).
Ralph J. Cicerone
is the president of the National Academy
of Sciences, and a trustee at the Carnegie
Corporation of New York.
Carnegie
Corporation of New York was a funder for Institute for Advanced Study, the Brookings Institution (think tank), the Carnegie Endowment for International Peace (think tank), and the Nuclear Threat Initiative (think tank).
Albert Einstein
was a faculty member at the Institute
for Advanced Study, and the founder of the International Rescue Committee.
Andrew Carnegie
was the founder of the Carnegie
Corporation of New York, the endowed predecessor schools for the Carnegie Mellon University, the founder
of the Carnegie Museums of Pittsburgh,
the founder of the Carnegie Foundation
for the Advancement of Teaching, and the founder of the Carnegie Endowment for International Peace
(think tank).
David A. Hamburg
is the president emeritus for the Carnegie
Corporation of New York, an adviser for the Nuclear Threat Initiative (think tank), and was the president of
the National Academy of Medicine.
National
Academy of Medicine is a health arm for the National Academy of Sciences.
Robert C. Merton
was a member of the National Academy of
Sciences, and a trustee at the College
Retirement Equities Fund (CREF).
Margaret A.
Hamburg is a foreign secretary for the National
Academy of Medicine, was a commissioner for the U.S. Food and Drug Administration (FDA), and a VP for the Nuclear Threat Initiative (think tank).
Michael R. Taylor
is the deputy commissioner for foods for the U.S. Food and Drug Administration (FDA), and was a VP for public
policy for the Monsanto Company.
Sharon R. Long was
a director at the Monsanto Company, and
a leadership council member for the National
Academy of Sciences.
Robert C. Merton
was a member of the National Academy of
Sciences, and a trustee at the College
Retirement Equities Fund (CREF).
Donald Kennedy
was a commissioner for the U.S. Food and
Drug Administration (FDA), and a trustee at the Carnegie Endowment for
International Peace (think tank).
Carnegie
Endowment for International Peace (think
tank) was a funder for the Nuclear
Threat Initiative (think tank).
Jessica Tuchman Mathews is a director at the Nuclear Threat Initiative (think tank),
a director at the American Friends of Bilderberg (think tank), was the
president of the Carnegie Endowment for International Peace (think tank),
an honorary trustee at the Brookings Institution (think tank), and a
2008 Bilderberg conference participant (think tank).
Ed Griffin’s interview with
Norman Dodd in 1982
(The investigation into the
Carnegie Endowment for International Peace uncovered the plans for population
control by involving the United States in war)
Mark B. McClellan
was a commissioner for
the U.S. Food and Drug Administration
(FDA), and a senior fellow at the Brookings Institution (think tank).
Cameron F. Kerry
is a fellow at the Brookings Institution
(think tank), and
John
F. Kerry is Cameron F. Kerry’s
brother, married to Teresa Heinz Kerry,
and the secretary at the U.S. Department
of State for the Barack Obama
administration.
Teresa Heinz
Kerry is an honorary trustee at the Brookings
Institution (think tank), married to John
F. Kerry, the vice chair for the H.
John Heinz III Center for Science, Economics and the Environment, an
emeritus life trustee at the Carnegie
Mellon University, and a trustee emeritus for the Carnegie Museums of Pittsburgh.
Rita R. Colwell
was a trustee at the H. John Heinz III
Center for Science, Economics and the Environment, and a leadership council
member for the National Academy of
Sciences.
Robert C. Merton
was a member of the National Academy of
Sciences, and a trustee at the College
Retirement Equities Fund (CREF).
Bill
& Melinda Gates Foundation was a funder for the Brookings Institution (think tank), the Carnegie Foundation for the Advancement of Teaching, the Urban Institute (think tank), and the International Rescue Committee.
David O. Maxwell is
a life trustee at the Urban Institute
(think tank), was an honorary trustee at the Brookings Institution (think tank), and a chairman & CEO for Fannie Mae (Bailout Company).
Anthony S. Downs
is a life trustee at the Urban Institute
(think tank), a director emeritus for the NAACP Legal Defense & Educational Fund, and was a director at
the General Growth Properties, Inc.
Albert Einstein
was a faculty member at the Institute for
Advanced Study, and the founder of the International
Rescue Committee.
International
Rescue Committee is a partner with the ONE
Campaign.
Michelle Obama
was an advocate for the ONE Campaign,
and a lawyer at Sidley Austin LLP.
R. Eden Martin is
counsel at Sidley Austin LLP, and
the president of the Commercial Club of
Chicago.
Barack
Obama was an intern at Sidley Austin
LLP.
Sidley Austin
LLP was the lobby firm for the Monsanto
Company.
Newton N. Minow
is a senior counsel at Sidley Austin LLP,
a member of the Commercial Club of
Chicago, and an honorary trustee at the Carnegie Corporation of New York.
Carnegie
Corporation of New York was a funder for Institute for Advanced Study, the Brookings Institution (think tank), the Carnegie Endowment for International Peace (think tank), and the Nuclear Threat Initiative (think tank).
Mark B. McClellan
was a senior fellow at the Brookings Institution (think tank), and a
commissioner for the U.S. Food and Drug
Administration (FDA).
Carnegie
Endowment for International Peace (think
tank) was a funder for the Nuclear
Threat Initiative (think tank).
Donald Kennedy
was a trustee at the Carnegie Endowment for International Peace (think tank),
and a commissioner for the U.S. Food and
Drug Administration (FDA).
Michael R. Taylor
is the deputy commissioner for foods for the U.S. Food and Drug Administration (FDA), and was a VP for public
policy for the Monsanto Company.
Sharon R. Long
was a director at the Monsanto Company,
and a leadership council member for the National
Academy of Sciences.
Robert C. Merton
was a member of the National Academy of
Sciences, and a trustee at the College
Retirement Equities Fund (CREF).
Sidley Austin
LLP was the lobby firm for the Monsanto
Company.
Barack
Obama was an intern at Sidley Austin
LLP.
Michelle Obama
was a lawyer at Sidley Austin LLP,
and an advocate for the ONE Campaign.
International
Rescue Committee is a partner with the ONE
Campaign.
Albert Einstein
was the founder of the International
Rescue Committee, and a faculty member at the Institute for Advanced Study.
Carnegie
Corporation of New York was a funder for Institute for Advanced Study, the Brookings Institution (think tank), the Carnegie Endowment for International Peace (think tank), and the Nuclear Threat Initiative (think tank).
Newton N. Minow
is an honorary trustee at the Carnegie
Corporation of New York, a senior counsel at Sidley Austin LLP, and a member of the Commercial Club of Chicago.
R. Eden Martin is
counsel at Sidley Austin LLP, and
the president of the Commercial Club of
Chicago.
Commercial Club of Chicago, Members Directory A-Z (Past
Research)
Tuesday, December 17, 2013
Cyrus F.
Freidheim Jr. is a member of the Commercial
Club of Chicago, and an honorary trustee at the Brookings Institution (think tank).
William M. Daley
is a member of the Commercial Club of
Chicago, was the chief of staff for the Barack Obama administration, and a director at the Joffrey Ballet.
Lorna Ferguson
is a director at the Joffrey Ballet,
and the VP for Nuveen Investments.
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