Products March 15, 2011

TIAA-CREF Selected as Provider to Florida Model 403(b)

March 15, 2011 (PLANSPONSOR.com) - TIAA-CREF has announced its selection by the Independent Benefits Council (IBC) as a retirement plan provider for the Florida Model Plan.
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The Florida Model Plan is a program designed to streamline 403(b) plan management for the over 350,000 K-12 educators across the state. Educators participating in the plan will have a variety of high-quality, low-cost investment options from TIAA-CREF and other investment providers as well as communication, education and objective advice provided locally by GWN Securities, a participating adviser in the TIAA-CREF Retirement Advisory Alliance.  

GWN is a Palm Beach, Florida-based registered investment adviser with more than 80 advisers at over 20 offices statewide.    

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According to the announcement, Florida school districts will benefit from the following plan changes: 

  • Plan-level communication and education, high-touch local assistance and one-on-one financial advice available through GWN, 
  • Access to TIAA-CREF Web-based and call center counseling and advice services, and 
  • A choice of quality mutual funds and annuities, including access to guaranteed lifetime income, from TIAA-CREF and funds from other investment providers with no sales charges or surrender fees. 

 

K-12 public schools across the country have turned to consortiums to leverage quality and price of services (see 403(b) Plan Buyer’s Guide: Constant Change). 

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