There were ups and down at TIAA since 1996 but unlike with this leadership it is unsure where TIAA is going. 1500 folks transferred to Accenture and people who were retained was due to their connections with management. It is number game projection of saving is in 10 years but term of CEO is probably finished in 2 years so who actually going to see through. It is just to get their bonus and let the new comer revamp again at expense of participants who is going to pay for the shuffling cost. I wish TIAA good luck and hope they keep the money safe
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10-15 years? Dude more like 3-5 years. It would have been 10-15 years if we still had Roger or someone halfway as good as he or Biggs. But T doesn’t care for her people as employers now or in their future retirement years.
In 10 to 15 years TIAA as it now stands will be done. It's primary market, colleges and universities are having issues. The demographic cliff is starting to hit with many colleges facing significant enrollment declines in turn many institutions are laying off employees. For TIAA that means less inflows coupled with separation from employment retirement plan rollovers. Over the years TIAA has been horrible (compared to other industry players) at retaining these assets. They already got rid of bank, sent a bunch of employees to Accenture. About 5 years ago USAA another affinity financial sold it's brokerage accounts to Schwab, and it's mutual funds to another outfit. I think T and the trustees will do the same, milk this dying animal for all its worth while selling off bits and pieces of the company until nothings left.
Since Roger left, TIAA has been rudderless.