a tiaa-cref retirement plan presentation to:maimonides ... · for institutional investor use only....

FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 0FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

OCTOBER 20, 2010

FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

A TIAA-CREF RETIREMENT PLAN PRESENTATION TO:

FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 1FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 1

TODAY’S DISCUSSION

INTRODUCTIONS/ GOALS ………..………………………………… TERESA HASSARA, Senior Managing DirectorInstitutional Client Services

I. TIAA-CREF OVERVIEW ………………………………………… EDWARD VAN DOLSEN, Chief Operating Officer TIAA-CREF

II. PLAN SPONSOR SERVICES …………….…….………………. DANIEL CONMY, Senior Managing Consultant Institutional Client Services

III. DIGITAL STRATEGY …………………….……………………. JEFFREY FLEISCHMAN, Chief Digital Officer Marketing & Digital Strategies

IV. TRANSITION & EMPLOYEE SERVICES ….…………….…….. ELENA FRENCH, Vice President Institutional Client Services Marketing & Communications

V. INVESTMENTS ……………………………………………………. TIM WALSH, Managing Director Product & Portfolio Management

VI. THE TIAA-CREF DIFFERENCE ………………………….…….. TERESA HASSARA


MAIMONIDES MEDICAL CENTER AND TIAA-CREF UNDERSTANDING YOUR OBJECTIVES

CURRENT RELATIONSHIP

Served by TIAA-CREF since 1985

Maimonides 403(b) plan– 6,000 eligible employees– $106,274,786 plan assets with

TIAA-CREF– $16,000,000 annual plan contributions– Current providers: TIAA-CREF,

Prudential

Maimonides 457(b) & 457(f) plans– $5,621,650 in plan assets with

TIAA-CREF– Current provider: TIAA-CREF

GOALS/ KEY CONSIDERATIONS

Simplify and streamline plan administration

Optimize plan and participant web experience

Drive successful participant outcomes

Fulfill fiduciary obligations and regulatory compliance requirements

Offer a broader range of investment choices

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. 3FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

TIAA-CREF OVERVIEW

FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 4

TIAA-CREF: STRENGTH AND STABILITY YOU CAN TRUST

* TIAA 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.

TIAA-CREF

Consistent, Retirement-Focused Investment Approach

Broad Claims-Paying Ability

TIAA (life insurance company affiliate)

Strong Capital Position

Triple-A Ratings*– A.M. Best Company A++ (12/09)– Fitch AAA (4/10)– Moody’s Investors Service Aaa (7/10)– Standard & Poor’s AAA (8/10)

Consistent Approach for Long-Term Stability

TIAA-CREF received the highest ranking for

trust in the financial services and insurance

industries, surpassing all competitors included

in a national brand equity survey released by

Harris Interactive.*

Highest-Ranked Brand for Trust

* TIAA-CREF received the highest numerical trust score among financial services and insurance industry brands included in The Harris Poll® 2010 EquiTrend® Study, which is based on opinions of 19,708 U.S. consumers ages 15 and over surveyed online between 1/12/10 and 1/ 21/10. Your opinion may differ. “Highest Ranked” was determined by a pure ranking of a sample of financial services and insurance industry brands.


TIAA-CREF IS THE NOT-FOR-PROFIT MARKET LEADER EXTENSIVE EXPERIENCE SERVING HOSPITAL AND HEALTHCARE

Origins

1918 – TIAA founded by Andrew Carnegie

1952 – CREF established with nation’s first variable annuity, CREF Stock Account

Today

7,000 employees in 60 offices nationwide

15,000+ retirement plan clients

3.7 million retirement plan participants

$410.2 billion in assets under management

Data as of 6/30/10.

Representative Healthcare ClientsYears with TIAA-CREF

Memorial Sloan Kettering Cancer Center 61

Mount Sinai 45

Dana Farber Cancer Institute 34

Partners HealthCare System 14

Middlesex Hospital 11

New York Downtown Hospital 7


COMMITTED TO THE GREATER NEW YORK METRO AREA HOSPITAL AND HEALTHCARE NETWORK

Deep Roots – In 1918, TIAA was incorporated and licensed in the State of New York to do business as a life insurance company, becoming – and remaining – the primary retirement system for the education, research and healthcare communities

Recognized Retirement Plan Expertise – TIAA-CREF continues that tradition, today managing more than $4.5 billion in hospital retirement plan assets for participants in the New York metro area alone

Community Partner and Volunteer – More than 70 years ago, TIAA’s 65 employees helped launch The Greater New York Fund – now known as United Way of New York City. And we remain a strong supporter of giving back to those who serve others

– United Hospital Fund

– The Foundation for Hospital Art PaintFests

– American Cancer Society’s Daffodil Days of Hope


PLAN SPONSOR SERVICES


YOUR TIAA-CREF MANAGING CONSULTANT COORDINATES ALL SERVICES ON YOUR BEHALF

ADMINISTRATOR / STAFF COUNSELING

ADMINISTRATION

PLAN IMPLEMENTATION

EMPLOYEE COUNSELING

MAIMONIDESMEDICAL CENTER

ManagingConsultant

DAN CONMY

Leads the Relationship

COMMUNICATIONS

EXECUTIVE MANAGEMENT TEAM

DED

ICA

TED SER

VICES

FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 9FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

HOW WE IDENTIFY OPPORTUNITIES TO DELIVER THE BEST OUTCOMES

In-depth knowledge of current plan andindustry trends is key to deliveringprograms that influence future savingsand investing behaviors

Plan Reviews

Peer Benchmarking

Gap Analyses

Satisfaction Surveys

Seminar Attendance

Focus Groups

Client and Employee Feedback


FIDUCIARY AND COMPLIANCE SERVICES

TIAA-CREF offers a comprehensive suite of solutions to help you simplify the process of meeting and managing your ongoing fiduciary and compliance obligations

Plan Document Services

InvestmentConsulting

ComplianceMonitoring

Plan Review Services

Plan FinancialReporting Services

TIAA-CREFFiduciary and

Compliance Services


DIGITAL STRATEGY


OUR COMMITMENT

Three pillars underpin everything we do to support you and your employees in the digital realm.


OUR ENGAGEMENT MODEL

Shaping our roadmap by listening to our customers and being responsive to market conditions.


PARTICIPANT STRATEGY THE ROADMAP FOR A NEW PARTICIPANT EXPERIENCE

A distinctive, quality, user-centric experience:• Intuitive• Thoughtful• Smart• Personal• Open

First, make it easier Then, deliver the vision


MAIMONIDES MEDICAL CENTER’S 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


MAIMONIDES MEDICAL CENTER’S BRANDED SITE ONLINE SALARY DEFERRAL & PENSION ENROLLMENT

Online Salary Deferral

Transforming paper into a robust digital experience

Integrated tools to help assess the implications of plan contributions

Seamless transition to plan enrollment process

Online Pension Enrollment

Interactive decision-making tools

Quick apply option or customize asset allocation

Save and return functionality


MAIMONIDES EMPLOYEE WEBSITE SECURE SITE REDESIGN

New aggregated views:

Aggregated TIAA-CREF investments

Aggregated non-TIAA-CREF investments

Personalization

Advice to plan for and live well in retirement:

Expanding our award-winning, fund-level advice offer to our self-service channel


PLAN SPONSOR STRATEGY THE ROADMAP FOR A NEW PLAN SPONSOR EXPERIENCE

A distinctive, quality, user-centric experience:• Intuitive• Thoughtful• Smart• Personalized• Fast

First, make it easier Then, deliver the vision


MAIMONIDES MEDICAL CENTER’S BRANDED SITE

Providing a single access point where you can log in to:

Process contributions

Generate reports

Maintain plan compliance


ENROLLMENT AND SALARY DEFERRAL MANAGEMENT

Create and manage Your Organization’s salary deferral agreement

Track completed salary deferral agreements by employees

Payroll feedback files provided by TIAA-CREF

Track all plan enrollment activity


PLAN DASHBOARD

An aggregated view of Maimonides Medical Center’s retirement plan for information and reporting – with the ability to identify specific Participant information and activities


TRANSITION & EMPLOYEE SERVICES


PROVEN IMPLEMENTATION PROCESS DISCIPLINE AND EXPERIENCE ENSURE A SMOOTH CONVERSION

DEDICATED PLAN SPONSOR

SUPPORT

Implementation Manager oversees plan conversionDelivery Consultant Name builds out project plan and executes deliverablesSenior support team members oversee operations and quality assurance processCommunication & Education Manager builds and delivers customized employee strategy

PLAN AND SYSTEM SETUP

Tailored project plan

Regular meetings on deliverables, issues and risks

Setup of employer, plan and data elements

Recordkeeper interactions for review and delivery of data and specs

END-TO-ENDTESTING

Full review of enrollment, loan and financial data processes

Multiple levels of testing to ensure integrity of data elements

Prompt issue resolution

POST-IMPLEMENTATION

SUPPORT

Monitoring phase

Institutional Liaison administers plans according to expectations

Single, Integrated Implementation


SAMPLE PLAN IMPLEMENTATION AND TRANSITION COMMUNICATION AND EDUCATION TIMELINE

TIAA-CREFSelected

Transition Complete12-WEEK PROCESS

Assetsreceived

Begin ongoing communications

Strategymeeting

Plan Document provided

Final fund selection and

mapping

Announcement mailing and email

Plan provisions

Agreements

Finalize transition communications

Administrator training on

website capabilities

Administrator training on transition

communications and

group meeting topics

Blackout notice

Begin group meetings

Coordinate asset transfer

with prior recordkeeper

Begin individual

counseling sessions


ANALYZE

3

Our four-step approach ensures your plan is tailored to meet your business objectives and the diverse needs of your workforce

WORKING WITH MAIMONIDES MEDICAL CENTER TO BUILD A CUSTOMIZED COMMUNICATION & EDUCATION PLAN

1 2 PLAN

4EXECUTE MEASURE

Understand key driversDemographicsBehaviorEnvironment

Chart the courseTarget audiencesTiming

– Implementation– Ongoing

Deliver via appropriate channelsIn personBy phoneOnlineMail and e-mail

Assess and modifyMetricsSurveysFeedback


COMMUNICATION AND EDUCATION DESIGNED TO MAXIMIZE EMPLOYEE ENGAGEMENT

WEBSITE TOOLSAND RESOURCES

APPS ANDDOWNLOADS SOCIAL MEDIA

NEWSLETTERS ANDSPECIALIZED GUIDES

QUARTERLYSTATEMENTS

PLANNING BROCHURES

We believe financial literacy is the primary driver of financial security in retirement.Our messages, delivered through a variety of mediums, are educational and objective.

Investment educationAsset allocation and diversification principlesPlanning and investment strategies

Monitoring and rebalancing conceptsIncome needs and distribution optionsIntegrating life’s other goals


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?”


RECOMMENDED SAVINGS RATE

DESIRED RETIREMENT INCOME

TIAA-CREF ADVICE AND PLANNING SERVICES PERSONALIZED REPORT

RECOMMENDED ASSET ALLOCATION

RECOMMENDED FUND SELECTION


INVESTMENTS


TIAA-CREF OPEN ARCHITECTURE INVESTMENT LINEUPS

EASYProven process to exchange/replace existing investment options

VALUE ADDEDAll mutual fund reimbursements used to offset Maimonides Medical Center plan expenses

FLEXIBLEOpen architecture and broad menu discretion

COMPREHENSIVENearly 15,000 mutual funds through NSCC network


TIERED APPROACH TO BUILDING MENUS ACCOMMODATING ALL EMPLOYEE NEEDS

Tier I “One Decision” Target Date / Asset Allocation Mutual Funds

Tier II Open Architecture Wide Range of Mutual Funds

Tier III Lifetime Income* TIAA-CREF Guaranteed and Variable Annuities*

Tier IV Brokerage Window Additional Mutual Funds and Individual Securities **

We believe a tiered investment menu offers choice, serves all employees and, ultimately, delivers financial security in retirement

* Guarantees are subject to the issuer’s claims-paying ability.** Individual securities are not allowable investments in 403(b) plans.


HOW TIAA TRADITIONAL AND TIAA STABLE VALUE COMPARE

TIAA TRADITIONAL ANNUITY(Retirement Choice)

Plan type: 403(b), 410(a)/(k), 457(b) Public, 457(f), 415(m)

Primary collateral account: TIAA General Account

Credit rate structure: Vintage structure for both new and old money

Crediting rate reset frequency: New money, generally monthly; old money, annually

Minimum crediting rate: 1%-3%

Participant-initiated plan benefit withdrawals: Lump-sum withdrawal allowed within 120 days of termination, subject to a 2.5% surrender charge. Otherwise, withdrawals and transfers must be spread over an 84-month period (7 years) in monthly systematic payments

Employer liquidity: Over 84 months with a 1.5% surrender charge

TIAA STABLE VALUEA Fixed Annuity Providing Capital Preservation and Income

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

The TIAA Traditional Annuity is a guaranteed annuity backed by TIAA's claims-paying ability. TIAA Traditional guarantees your principal and a minimum interest rate (typically between 1% and 3%), plus it offers the opportunity for additional amounts in excess of the guaranteed rate. These additional amounts, when declared by the TIAA Board of Trustees, remain in effect for the "declaration year" that begins each March 1. Liquidity and withdrawal restrictions may apply.TIAA Stable Value is a guaranteed annuity contract issued by TIAA. Contributions from different plans are pooled together and deposited in a non- unitized pooled separate account of TIAA. TIAA Stable Value provides a guaranteed minimum rate of interest of between 1% and 3% (before deductions for contract fees). Payment obligations and the fulfillment of the guarantees provided for in the contract 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. 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. Please refer to the annuity contract or certificate for further details.


THE TIAA-CREF DIFFERENCE


BENEFITS OF AN EXCLUSIVE RELATIONSHIP WITH TIAA-CREF LOW-FEE STRUCTURE FOR A FULL RANGE OF SOLUTIONS

Streamlined Administration

Enhanced Web Capabilities

Targeted, Actionable Communication and Education

Full Compliance & Fiduciary Support

Total Investment Menu Flexibility

The Solutions You Need

Competitive Fee Structure


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 are not FDIC insured, may lose value and are not bank guaranteed.

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.

© 2010 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), New York, NY 10017

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a tiaa-cref retirement plan presentation to:maimonides ... · for institutional investor use only....

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