The following message was provided by TIAA-CREF. In addition to reading the article, please visit TIAA-CREF's website at: http://www.tiaa-cref.org/support/help/financial-strength/index.html to view a Q & A developed to address any concerns regarding the safety of money in TIAA-CREF funds and accounts.
While TIAA-CREF is closely monitoring developments on Wall Street, our investment philosophy continues to seek competitive returns over the long run, which is well suited to a retirement plan that seeks to deliver lifetime income to individuals.*
The nation's leading independent insurance rating agencies have all affirmed the highest possible insurance financial strength ratings for TIAA.
A.M. Best: A++ (Superior), as of 9/2008
Fitch Ratings: AAA as of 8/2008
Moody's: Aaa as of 7/2008
S&P: AAA as of 8/2008
TIAA is the only company dedicated to serving the academic, research, medical and cultural fields to receive AAA ratings - the highest - from Standard & Poor's, and the highest rating from the three other major rating agencies.
* Lifetime income is subject to the claims-paying ability of TIAA. These ratings do not apply to variable annuities, mutual funds, or any other product or service not fully backed by TIAA's/TIAA-CREF Life's claims-paying ability.
Insurance and annuity products issued by TIAA (Teachers Insurance and Annuity Association), New York, NY and TIAA-CREF Life Insurance Co., New York, NY.
Note that all TIAA-CREF investment products are subject to market risk. Past performance is no guarantee of future results.
https://www.ithaca.edu/intercom/article.php/20080930232611982