TIAA-CREF, a major organization in retirement services, was recently picked as the new manager of the Brooklyn Hospital Center’s $403 billion retirement plan, providing employees with numerous investment options, financial education and advice. These investment opportunities will be developed specifically to suite the hospital’s workers.
“TIAA-CREF was the right partner for us because of their investment capabilities, track record of historical performance and low expense ratios” explained the Brooklyn Hospital Center’s Senior Vice President of Human Resources John Lasky. “Their offering was the best for our retirement plan services.”
Brooklyn Hospital Center employees will now be able to invest in mutual funds from TIAA-CREF as well as others. With access to the organization’s incomes, the employees’ lifetime income in retirement is guaranteed. They will also be able to receive plan details and information via the organization’s website.
“We’re providing the education and personalized advice to help the employees of The Brooklyn Hospital Center managing their changing financial needs” said TIAA-CREF Managing Director of Institutional Relationships Michael Noone.
Kevin Nazworth, TIAA-CREF VP, added “We’re leveraging our expertise in this market to help health care providers create a secure retirement for their employees.”