A TIAA-CREF Retirement Plan Presentation to Baptist Health ... · the client institutions we serve while seeking to provide retirement security to their employees on the best terms
Post on 19-Aug-2020
2 Views
Preview:
Transcript
MARCH 31, 2011
A TIAA-CREF RETIREMENT PLAN PRESENTATION TO:
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 1
INTRODUCTIONS
PETE D’ANGIO, Director Institutional Development & Sales
JOEY NORDMARK, Managing Consultant Individual & Institutional Client Services
DOUG CALNEK, Managing Director Shared Services/Implementation
CARISSA ROMAN, Senior Marketing Manager Marketing
MICHAEL MULKEEN, Director Field Consulting Group
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 2
TODAY’S DISCUSSION
I. Organizational Overviewa. Baptist Health Care Key Goals and Objectivesb. Mission and Visionc. Strength and Experienced. 403(b) Market Sharee. Recognition
II. Baptist Health Care Service Modela. Dedicated Service Teamsb. Plan Reviewc. Outsourced Plan Administrationd. Administrator Website
III. An Engaging and Effective Employee Experiencea. Discussion of Employee Education Strategyb. Employee Education Needs, Mediums and Toolsc. Participant Adviced. On-site Education Strategy
IV. Implementation and Conversion
V. Investments / Pricing
VI. The TIAA-CREF Difference
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 3FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: ebaptisthealthcare.org
BAPTIST HEALTH CARE AND TIAA-CREF
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 4
CONFIRMING BAPTIST HEALTH CARE’S KEY GOALS AND CONSIDERATIONS
An Organization that Shares your Values
A Coordinated Employee Communication Process
Proactive Consultative Plan Guidance
A True Business Partner
Enhanced Web Site
Effective Transition / Implementation
Open Investment Architecture
Enhanced Pricing
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 5
BAPTIST HEALTH CARE AND TIAA-CREF ALIGNED IN MISSION AND VALUES
To serve those who serve others; … to aid and strengthen the client institutions we serve while seeking to provide retirement security to their employees on the best
terms practicable. … founded on our long-held commitment to the highest standards of
excellence, integrity and respect — from careful stewardship of managed assets to
an unwavering focus on corporate governance and social responsibility.
Mission
To provide superior service based
on Christian values to improve the quality of life for people and communities served.
BAPTIST HEALTH CARE
TIAA-CREF
Values
Integrity, Vision, Innovation,
Superior Service, Stewardship, Teamwork
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 6
LONG-TERM EXPERIENCE AND FINANCIAL STRENGTH TIAA-CREF IS THE PROVIDER YOU CAN TRUST
* TIAA, the insurance company affiliate that backs TIAA Traditional and our other guaranteed products, has received the highest ratings for its stability, claims-paying ability and overall financial strength. These ratings do not apply to variable annuities, mutual funds or any other product or service not fully backed by TIAA's claims-paying ability. Ratings may be affirmed or adjusted at any time. There is no guarantee that current ratings will be maintained.
Highest Ratings Available (TIAA)*
A.M. Best Company A++ (2/11)
Fitch AAA (4/10)
Moody’s Investors Service Aaa (7/10)
Standard & Poor’s AAA (8/10)
Financial StrengthFinancial StrengthLong-Term ExperienceLong-Term Experience
Experience by the Numbers
90+ years serving not-for-profits
$453 billion in assets (12/31/10)
15,000 institutional clients
24,000 retirement plans
4 million participants
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 7
MARKET SEGMENT
TIAA-CREF RANKING**
Higher Education 1
K-12 1
Hospital & Healthcare 2
Other 1
$8
$12,323
$16,049
$10,900
$16,323
$25,463
$40,381
$20,414
$70,832
$242,194
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000
Prudential
MetLife
Great West
Diversified
Vanguard
Lincoln Financial
ING
VALIC
Fidelity
TIAA-CREF
Millions
TIAA-CREF IS THE NOT-FOR-PROFIT MARKET LEADER
Top 10 403(b) Plan Providers*
* Source: PLANSPONSOR’s 2010 Recordkeeping Survey, based on 2009 recordkeeping assets; http://plansponsor.com/2010_Recordkeeping_Survey.aspx
** Source: LIMRA, Not-for-Profit Market Survey, fourth-quarter 2010 results. Based on a survey of 30 companies. TIAA-CREF assets under management by market segment estimated; segment breakdown based on 20 companies representing 97% of the total reported full service assets. Market share ranking does not reflect current investment performance. Average assets per participant based on full-service business.
K-12 1
Hospital & Healthcare 2
NOT-FOR-PROFIT MARKET SEGMENT
TIAA-CREF RANKING**
Higher Education 1
TIAA-CREF leads not only in assets under management, but in participant retirement account balances as well**
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 8
BAPTIST HEALTH CARE RECOGNIZED FOR EXCELLENCE
Awarded to Baptist Hospital Inc. in 2003
Established by Congress in 1987 to raise awareness about the importance of quality and performance excellence
Highest honor given to American businesses
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 9
TIAA-CREF RECOGNIZED FOR EXCELLENCE
Gold: Education Programs for Advice communications
ASPPA (American Society of Pension Professionals & Actuaries) Recordkeeper Certificate awarded to firms that successfully satisfy audit criteria and meet best practices
“Diversity is part of our company history. More importantly, it is integral to our future.”
– Roger W. Ferguson, Jr., President and CEO
One of “America's 50 Best Companies for Minorities,” Fortune Magazine (annually, 2000-2005)
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 10FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: ebaptisthealthcare.org
BAPTIST HEALTH CARE SERVICE MODEL
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 1111
TIAA-CREF HEALTHCARE MARKET
TIAA-CREF
Dedicated hospital segment team
120 hospital clients nationwide
Manages $17.5 billion in hospital assets
More than 108,000 active participants
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 12
THE TIAA-CREF MANAGING CONSULTANT COORDINATING SOLUTIONS ALIGNED WITH YOUR OBJECTIVES
Baptist Health Care
Administration
PlanDesign
AdministratorTraining
RegulatoryUpdates
IndustryInformation
Service Coordination
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 13
MarketingDirector
BRAD THOMAS
INTEGRATED SERVICE DELIVERY. INDUSTRY DISTINCTIVE VALUE.
Managing ConsultantJOEY NORDMARK
InstitutionalLiaison
TAMI LOPEZ
IndividualConsultant Director
MIKE MULKEEN
Wealth Management
AdvisorROGER JUDY
Plan Implementation
ManagerDOUG CALNEK
ADMINISTRATION COMMUNICATION & EDUCATION IMPLEMENTATION
Communication & Education ManagerCARISSA ROMAN
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 14FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 14
BAPTIST HEALTH CARE CURRENT PLANS
BHC 403(b)
BHC 401(k)
BHV 401(k)
BHV 401(k) SC
MPA 401(k)
457(b)
Lakeview 403(b)
GCI 403(b) NQ
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 15
BAPTIST HEALTH CARE AND TIAA-CREF PROGRESS THROUGH PROACTIVE PLANNING
We will partner with Baptist Health Care toensure plan progression and evolution
Conduct needs assessment
Establish annual plan goals
Create a measure for each identified goal
Develop and execute business and communication plans
Monitor through annual progress meeting
ASSESSMEASURE
DESIGNIMPLEMENT
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 16
BAPTIST HEALTH CARE SAMPLE MANAGING CONSULTANT ACTION PLAN FOR 2011
1st QuarterJanuary February March
Annual Plan Review MeetingTIAA-CREF Quarterly Investment Review (4th Qtr 2010)TIAA-CREF Issues Form 1099-Rs for 2010 Distributions
2011 Goals and Metrics (Sign-Off)Annual 402(g) Notices for 2010 (Prior Year)TIAA-CREF Files Form 1099-Rs for 2010 Distributions with IRS
Plan Document and Summary Plan Description (SPD) for 403(b) Supplemental Plan Finalized
2nd QuarterApril May June
TIAA-CREF Quarterly Investment Review (1st Qtr 2011)Deadline for Refunds of 2010 Excess Contributions2010 Plan Financial Reporting Package IssuedPlan Audit Support2011 Goals and Metrics Review
TIAA-CREF SAS 70 IssuedPlan Audit Support
Plan Audit Support
3rd QuarterJuly August September
TIAA-CREF Quarterly Investment Review (2nd Qtr 2011)Form 5500s Filed or Extensions FiledSummary of Material Modification (SMM) for Prior Plan Year (If Applicable)2011 Goals and Metrics Review
Non-Discrimination Data FinalizedAnnual Required Minimum Distribution Notices
4th QuarterOctober November December
TIAA-CREF Quarterly Investment Review (3rd Qtr 2011)Form 5500s Filed (If Extensions Applicable)2011 Goals and Metrics Review
Annual QDIA and Auto Enroll Notices
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 17FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
STRATEGIC PLAN ANALYSIS IDENTIFYING OPPORTUNITIES TO DELIVER THE BEST OUTCOMES
In-depth knowledge of trends in planparticipation is key to delivering programsthat influence desired savings and investing behaviors
Plan Review– Participation rates– Contribution rates– Assets accumulated– Investments and asset classes held
Gap Analyses
Satisfaction Surveys
Seminar Attendance
Focus Groups
Client Feedback
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 18
• Investment Policy & Menu Construction• Plan financial reporting package, Signature-Ready 5500• Program monitoring, consultative services
• Default & online enrollment, automated salary reduction• Loan and hardship withdrawal compliance• Vesting services, termination processing
• Highly targeted campaigns• Objective Advice and Planning Services• Auto Enroll and Roth 403(b)
SOLUTIONS TO EASE YOUR WORKLOAD
REDUCED RISK
Meet fiduciary obligations and ensure regulatory compliance
INCREASED EFFICIENCIES
Simplify administration and reduce plan costs
INCREASED EMPLOYEE ENGAGEMENT
Promote retirement readiness
Our Administrative SolutionsYour Administrative Needs
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 19
TIAA-CREF SECURE PLAN ADMINISTRATOR WEBSITE EFFICIENT, CENTRALIZED PLAN MANAGEMENT
Convenient, Online Access to Data and Plan Administration Services
Employee account and plan participation data
Contribution data and fund remittances
Individual and group employee enrollment
Salary deferral agreements
Plan and compliance reports
Wide variety of report templates
Report run scheduling preferences & alerts
Publications, forms, resources and help
Auditors get direct access
Plan Sponsor Dashboard for Access to Real-Time Plan Data
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 20FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: ebaptisthealthcare.org
AN ENGAGING AND EFFECTIVE EMPLOYEE EXPERIENCE
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 21
YOUR DEDICATED INDIVIDUAL CONSULTANT COMBINING PERSONALIZED ADVICE WITH TARGETED EDUCATION
Baptist Health Care Employees
Life- and Career-StageEducation
Step-by-StepEnrollment Assistance
Personalized Objective Advice & Recommendations
Customized Strategiesfor Complex Needs
Retirement Income andDistribution Options
Product Information
GroupGroup
One-On-OneOne-On-One
TelephoneTelephone
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 22
OPTION A: TIAA-CREF ADVICE AND PLANNING SERVICES DESIGNED TO ADDRESS THE UNIQUE NEEDS OF EVERY EMPLOYEE
CUSTOMIZED FINANCIAL
SOLUTIONS *
Holistic Financial PlanningAnnual Retirement and Investment ReviewsManaged AccountsDiscretionary ManagementFiduciary Services
PERSONALIZED ADVICE
& COUNSELING
Objective Advice & Planning ServicePersonalized Action Plan
– Plan-Specific Fund Selection
GUIDANCE & EDUCATION
Asset AllocationSavings RateDistribution OptionsRetirement Age
* These services may not be available to all employees.
Counseling sessions targeted to career and life stages help employees answer three primary questions:
“ Am I saving enough for retirement? ”
“ How should I allocate and invest to reach my goals? ”
“ When can I retire?”
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 23
YOUR TIAA-CREF INDIVIDUAL CONSULTANTS PERSONALIZED SERVICE FROM EXPERIENCED PROFESSIONALS
EXPERIENCE DISTINCTIVE VALUE ACCOUNTABILITY
FINRA registered / Insurance licensed
Financial, investment and retirement income training
Thorough understanding of your retirement plans
Results from Individual Counseling Session Surveys conducted for 2010 show:
81% stated the experience was “better” or “much better” than with other financial services representatives
98% of our participants said that the Individual Consultant put their interests first
Held to balanced scorecard− People− Operations− Customer satisfaction− Asset growth
Service quality monitoring program
The above quotes may not be representative of the experiences of other TIAA-CREF participants and are not indicative of future performance or success. They stem strictly from the participants' experiences with broker-dealer related services and not from any investment advisory services offered by a TIAA-CREF affiliate.
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 24
PERSONALIZED SERVICE FOR YOUR EMPLOYEES
LOCATION # OF EMPLOYEES # OF SERVICE DAYS/ IMPLEMENTATION
# OF SERVICE DAYS/ ONGOING
Andrews Institute 125 2 5
Atmore Community Hospital 125 2 5
Baptist Hospital 3,300 30 52
Baptist Leadership Institute 15 1 1
Baptist Manor 75 1 3
Baptist Medical Park – Navarre 25 1 2
Baptist Medical Park – Nine Mile 100 2 4
Gulf Breeze Hospital 500 4 11
Jay Hospital 100 1 4
Lakeview Center 900 10 26
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 25
TIAA-CREF ADVICE AND PLANNING SERVICES PERSONALIZED ACTION REPORT WITH RECOMMENDATIONS
RECOMMENDED SAVINGS RATE RECOMMENDED ASSET ALLOCATION
RECOMMENDED FUND SELECTION
DESIRED RETIREMENT INCOME
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 26
TIAA-CREF AND FINANCIAL SOUNDINGS TWO OPTIONS FOR OBJECTIVE ADVICE SERVICES
Personalized planning and objective fund recommendations through TIAA-CREF Individual Consultants
Independent advice methodology through Ibbotson Associates
TIAA-CREF FINANCIAL SOUNDINGS
All employees receive personalized reports with specific recommendations
– Retirement Plan Analysis– Annual Portfolio Review
Service coordinated with TIAA-CREF Individual Consultants
Option A Option B
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 27
TIAA-CREF WEALTH MANAGEMENT SERVICES FOR MORE COMPLEX NEEDS
TIAA-CREF Wealth Management clients have access to a personal advisory relationship to help address theirfinancial needs as they plan for – and live well in –retirement
Focused organization with a long term approach to stability
Dedicated team committed to working in participants’best long-term financial interest
Disciplined and defined financial planning and investment philosophy
Deep and thorough knowledge of your clients’ retirement plans
Wide array of investment products and services
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 28
TELEPHONE COUNSELING CENTER OVERVIEW
Overview
Locations in Charlotte, Denver and Dallas
Staff of 800 phone consultants capable of English and Spanish conversations
150 Counseling consultants (e-mail and written correspondence)
Extensive Consultant Qualifications
Minimum of Series 6 and Series 63 FINRA registrations
95% are college graduates
Four-month training program; ongoing training on new products, industry regulations, etc.
Consultative approach
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 29
BAPTIST HEALTH CARE BRANDED SITE
Providing a single access point where your employees can easily:
Understand their plan investment options
Access tools and education
Complete a salary reduction agreement and enroll
Log in to:
– View balances– Transact– Update information
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 30
COMMUNICATION AND EDUCATION WORKING TOGETHER TO BUILD YOUR CUSTOMIZED PLAN
MetricsSurveysFeedback
In personPhoneMail / e-mail
DemographicsBehaviorMarket environment
Target audiencesMessagesTiming
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 31
COMMUNICATIONS PLAN OVERVIEW
Transition / Implementation
Explain key elements of the transition and guide employees through the plan implementation stage
Ensure that all employees understand their investment options and the principles of asset allocation, and take appropriate action
Ongoing
Promote the overall value of the retirement plan and sound asset allocation
Motivate participants to increase contributions, if appropriate for their situation
Encourage new hires to participate in the plan
Monitor and measure the impact of the education and advice program
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 32
TIAA-CREF will continue to monitor the performance of your program and work with you on enhancements as necessary. The plan will be successful only with continual monitoring and adjustment.
TIAA-CREF will continue to monitor the performance of your program and work with you on enhancements as necessary. The plan will be successful only with continual monitoring and adjustment.
MEASUREMENT: DRIVING CONTINUAL IMPROVEMENT
Pre- and Post-Campaign Analysis
We analyze participation rates, asset allocation and deferral rates
Surveys
We survey Financial Education Seminar attendees to ensure that the seminars are providing actionable education, and to understand their motivation to attend
Plan Review
We discuss all metrics during a regular plan review and the marketing and education plan is adjusted based on the results
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 33
COMMUNICATION, EDUCATION AND ADVICE MAXIMUM ENGAGEMENT DURING THE TRANSITION AND ONGOING
Online Planning Tools, Calculators, Resources
Social Media and Downloads
Plan Change Communications
Individual Counseling and Group Education
Customized Campaigns, Statement Messaging
Enrollment Resources
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 34FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: ebaptisthealthcare.org
IMPLEMENTATION/ CONVERSION
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 35
COMMITMENT TO INFRASTRUCTURE FOCUSED ON OPERATIONAL AND SERVICE EXCELLENCE
Transaction Processing13.1 million contribution transactions each monthGreater than 98% same-day transaction processing rateQuality program links operational performance and customer satisfaction
Service CapacityThree national counseling centers: Denver, Charlotte, DallasCall-handling and interactive voice recognition technologySingle-source participant statement and web management
Systems Stability and SecurityTwo state-of-the-art data centers; Level 9 classificationFully redundant infrastructure ensures business continuity and technical recovery capabilitiesFacilities fully staffed and monitored 24/7
Data as of June 2010
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 36
Plan and System Setup
End-to-End Testing
Post-Implementation Monitoring
DISCIPLINE AND EXPERIENCE ENSURING OPERATIONAL EFFECTIVENESS
Proven Implementation Process
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 37
Plan and System Setup
Post-Implementation Monitoring
BAPTIST HEALTH CARE MULTIPLE PLANS: IMPLEMENTATION CONSIDERATIONS
BHC403(b)
BHC401(k)
BHV401(k)
BHV401(k)(SC)
MPA401(k) 457(b)
Lakeview403(b)
GCI403(B) NQ
Plan Provisions
Payroll Remittance
Mapping Instructions
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 38
INTEGRATED IMPLEMENTATION TIMELINE OVERVIEW
Weeks
1 2 3 4 5 6 7 8 9 10 11 12
Kick-off Meeting & Strategy PlanningOn-site Administrator Training
Individual Counseling & Group EducationConversion & TestingBlackout & Launch
Announcements & InvitesPlan and System Setup
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 39
NEW ONLINE IMPLEMENTATION DASHBOARD COORDINATING ALL ACTIVITIES THROUGH A SHARED SITE
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: en.wikipedia.org/wiki/File:WillametteUEatonHall.jpg
Detailed project timeline
Statement of work
Setup and design documents
Forms and agreements
Remittance instructions
Sample employee communications
Educational materials
Baptist Health Care
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 40FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.Source: ebaptisthealthcare.org
INVESTMENTS AND PRICING
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 41
TIAA-CREF OPEN ARCHITECTURE INVESTMENT LINEUPS
EASYProven process to exchange/replace existing investment options
VALUE ADDEDAll mutual fund reimbursements used to offset plan expenses
FLEXIBLEOpen architecture and broad menu discretion
COMPREHENSIVENearly 15,000 mutual funds through NSCC network
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 42
FULLY OPEN ARCHITECTURE ACCESS TO MORE THAN 12,000 MUTUAL FUNDS
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 43
TIAA STABLE VALUE: A FIXED ANNUITY PROVIDING CAPITAL PRESERVATION AND INCOME
TIAA Stable Value is a guaranteed annuity contract issued by Teachers Insurance and Annuity Association (TIAA), New York, NY 10017. Contributions from different plans are pooled together and deposited in a non-unitized pooled separate account of TIAA. This guaranteed annuity contract is not considered to be an “investment” or “security” under federal securities laws. In addition, the contract provides a guaranteed minimum rate of interest of between 1% and 3% (before deductions for contract fees). Contract fees are described in the annuity contract and are collected on a daily basis. Payment obligations and the fulfillment of the guarantees provided for in the contract in the accumulation phase are supported by the assets held in the separate account. If the assets in the separate account are insufficient to meet these obligations, the shortfall is supported by the General Account of TIAA, and is therefore subject to TIAA’s claims-paying ability. Lifetime annuity payments are provided by TIAA, are subject to TIAA’s claims-paying ability, and are not supported by the assets in the separate account. Past interest rates are not indicative of future interest rates. This product is not a mutual fund, variable annuity or bank product. The obligations of TIAA are not insured by the FDIC or any other federal governmental agency. As provided for in the annuity contract, restrictions may apply to certain plan sponsor and/or participant initiated transactions. Please refer to the annuity contract or certificate for further details.
TIAA STABLE VALUE
Plan type: 403(b), 401(a)/(k), 457(b) Public, 457(b) Private, 457(f)
Primary collateral account: TIAA Separate Account
Credit rate structure: Single portfolio rate by pool
Crediting rate reset frequency: Semiannually
Minimum crediting rate: 1% - 3%, before deductions for plan-specific charges
Participant-initiated plan benefit withdrawals: Fully liquid, no restrictions (90-day equity wash applies if competing funds exist). Transfers in may not be made for 30 days following a transfer out
Employer liquidity: Within 90 days or in two years, depending on interest-rate environment, with no surrender charge
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 44
TIAA TRADITIONAL ANNUITY ACCOUNT VALUE TO PARTICIPANTS
Guaranteed stability** – Supported by TIAA’s AAA (and equivalent) rating*
Seeks high yields– Limited cashability permits long-term investment horizon
Ideal complement to equity holdings– Diversification and stability– Low correlation to equities
Provides guaranteed lifetime income**– Principal plus interest guarantees supplemented by
additional amounts that may be declared can result in increased account values***
* The four leading insurance company rating agencies: A++, A.M. Best Company (as of 2/11); AAA, Fitch (as of 4/10); Aaa, Moody’s Investors Service (as of 7/10); AAA, Standard & Poor’s (as of 8/10) – the highest possible ratings from these independent analysts. These ratings of TIAA as an insurance company do not apply to variable annuities, mutual funds, or any other product or service not fully backed by TIAA’s claims-paying ability. Ratings are subject to change. There is no guarantee that current ratings will be maintained.
** All guarantees are based on TIAA’s claims-paying ability.*** Additional amounts of interest may be declared on a year-by-year basis by the TIAA Board of Trustees. These additional amounts, when declared,
remain in effect for the “declaration year,” which begins each March 1. TIAA Traditional is a guaranteed insurance contract, not an investment.
Product Features• Guarantees principal plus
minimum interest rate • Opportunity to receive additional
amounts*** • Multiple payout options available
Product Features• Guarantees principal plus
minimum interest rate• Opportunity to receive additional
amounts***• Multiple payout options available
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 45
Long-term Approach to Stability
BRINGING BAPTIST HEALTH CARE THE TIAA-CREF DIFFERENCE
403(b) Regulatory Expertise403(b) Leader
Proven History of Integrity
Mission Driven
Not for Profit Heritage
Proactive, Cohesive Service Team
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 46
BAPTIST HEALTH CARE AND TIAA-CREF ALIGNED CULTURES. SHARED VALUES. COMMON GOALS.
AN IDEAL PARTNERSHIP
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 47
IMPORTANT INFORMATION
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Advisory services offered by Advice and Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a Registered Investment Advisor. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY.
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit tiaa-cref.org for details.
Investment products, and insurance and annuity products are NOT FDIC insured; are not bank guaranteed; may lose value; are not deposits; are not insured by any federal government agency; are not a condition to any service or activity.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Go to tiaa-cref.org for a prospectus that contains this and other information. Please read the prospectus carefully before investing.
© 2011 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
C50602
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 48FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 48
IMPLEMENTATION TIMELINE OVERVIEW INTEGRATED EVENTS
Timeline Milestone Who Action
Upon Selection Kick-off Meeting
TIAA-CREF and Baptist Health Care
IntroductionsProject planning
Baptist Health Care
Recordkeeping, custodial and trust agreementsRemittance file layoutFinal fund lineupLetter of Intent
- 12 weeks
Communication & Education Plan
TIAA-CREF Strategy delivered
Baptist Health Care Strategy review and approval
Plan / System Setup TIAA-CREF Plan setup
Data Request for Conversion File TIAA-CREF
Data requestWire instructions
- 10 weeks Test Conversion & Remittance Files Baptist Health Care Conversion and remittance file testing
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 49FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 49
IMPLEMENTATION TIMELINE OVERVIEW INTEGRATED EVENTS
Timeline Milestone Who Action
- 5 weeks
Communication & Education Rollout TIAA-CREF
Transition announcementsSeminar and meeting invitations
Administrator Training TIAA-CREF Website training
Review of Test Conversion File TIAA-CREF
Test file reviewConversion trial run
- 1 week
Enrollment Period TIAA-CREFEnrollment materials, meetings and seminarsIndividual counseling sessions
Blackout Period Prior Recordkeeper(s) Blackout period
Asset/Data Transfer Prior Recordkeeper(s) Re-registration of assets/data
Conversion Initiated TIAA-CREFData and assets reconciliationConversion transactions
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 50FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 50
IMPLEMENTATION TIMELINE OVERVIEW INTEGRATED EVENTS
Timeline Milestone Who Action
Day 0 Post-Conversion Process Begins TIAA-CREF Ongoing activities coordination
+ 1 week Final Conversion File Prior Recordkeeper(s) Final conversion data
+ 4 weeks
Post-Conversion Process Ends TIAA-CREF Business as usual
Ongoing Communication and Education
TIAA-CREFWelcome kitsOngoing communication and education strategy
top related