A TIAA-CREF RETIREMENT PLAN PRESENTATION TO: OCTOBER 21, 2010 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

Size: px

Start display at page:

Download "A TIAA-CREF RETIREMENT PLAN PRESENTATION TO: OCTOBER 21, 2010 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC."

Laureen Delphia Washington
5 years ago
Views:

1 A TIAA-CREF RETIREMENT PLAN PRESENTATION TO: OCTOBER 21, 2010 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

2 TODAY S DISCUSSION Introductions/ Understanding the Goals of Temple University Health System CHRISTINA PROSCIA, Director Institutional Client Services I. Implementation/ Transition DAVID DUNNE, Senior Vice President Shared Services II. Participant Services ELENA FRENCH, Vice President Institutional Client Services Marketing & Communications LEW BURLEY, Director Field Consulting Group III. Administrative Services/Client Relationship JAMES MANISCALCO, Managing Consultant Institutional Client Services IV. Digital Strategies DAVID DUNNE V. Investments LEW BURLEY VI. The TIAA-CREF Difference... CHRISTINA PROSCIA APPENDIX FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 1

CONFIRMING TEMPLE UNIVERSITY HEALTH SYSTEM S KEY GOALS AND CONSIDERATIONS FUTURE GOALS AND KEY CONSIDERATIONS Ease of Implementation of Plan Enhancements Streamlined Plan Administration and Reporting

3 CONFIRMING TEMPLE UNIVERSITY HEALTH SYSTEM S KEY GOALS AND CONSIDERATIONS FUTURE GOALS AND KEY CONSIDERATIONS Ease of Implementation of Plan Enhancements Streamlined Plan Administration and Reporting Comprehensive Communication and Education transitional and ongoing Increased Employee Engagement and Plan Appreciation Personalized, Objective Advice and Guidance Investment Flexibility and Low-cost, High Value Investment Menu FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 2

4 TIAA-CREF: A LONG-TERM APPROACH TO STABILITY YOU CAN TRUST Consistent Approach for Long-Term Stability Highest-Ranked Brand for Trust TIAA-CREF Consistent, Retirement-Focused Investment Approach Broad Claims-Paying Ability TIAA (life insurance company affiliate) Strong Capital Position 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.* 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) * 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 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. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 3

5 TIAA-CREF IS THE NOT-FOR-PROFIT MARKET LEADER EXTENSIVE EXPERIENCE SERVING HOSPITAL AND HEALTHCARE Origins 1918 TIAA founded by Andrew Carnegie Representative Healthcare Clients Years with TIAA-CREF 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 Memorial Sloan Kettering Cancer Center 61 Mount Sinai 45 Thomas Jefferson University Hospitals 42 Dana Farber Cancer Institute 34 University of Pennsylvania Health System 34 Children s Hospital of Philadelphia 15 New York Downtown Hospital 7 Data as of 6/30/10. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 4

6 IMPLEMENTATION AND TRANSITION FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 5 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

7 DEDICATED IMPLEMENTATION TEAM SEAMLESS TRANSITION BASED ON DISCIPLINE AND EXPERIENCE DEDICATED PLAN SPONSOR SUPPORT PLANNING AND SETUP END-TO-END TESTING POST IMPLEMENTATION SUPPORT Mike Minutolo oversees entire transition Senior team members oversee all aspects of delivery and quality assurance process, monitoring client experience and plan Regular meetings on deliverables, issues and risks Goals, objectives, and choices that lead to setup and review of employer, plan and data elements Interactions for review and delivery of data and specs Full review of enrollment, loan and financial data processes Multiple levels of testing to ensure integrity of data elements Resolution of any issues identified Monitoring especially after first 60 days of a phase Fidelia Flynn administers plans according to expectations Single, Integrated Implementation Plan Multiple workstreams, which may include all tactics: CORE, Communications, IT, Legal, On-Site Presence, Administration FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 6

8 DEDICATED IMPLEMENTATION TEAM TRANSITION WORKSTREAMS AND RESPONSIBILITIES WORKSTREAM Program Management and Oversight Vendor Consolidation Agreements Participant Experience Investment Lineup Administrative Experience RESPONSIBILITIES Overall responsibility for managing the project Coordinate tasks necessary to facilitate the asset and data takeover from current recordkeepers Coordinate negotiation, delivery and signoff on legal agreements Responsible for the participant experience, enrollment forms, mapping, loan and hardship processing and other key matters Responsible for activities necessary to implement the fund lineup Responsible for the installation and activities necessary for setting up the remittance process, plan setup and coordination with your Plan Document. Coordinate negotiation, delivery and signoff on legal agreement. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 7

DURING THE TRANSITION AND ONGOING ON-SITE SERVICE COMMITMENT ON-SITE SUPPORT, ADVICE AND EDUCATION Implementation Administrator/Staff Support and Training: 4 days Employee Counseling: 12 days

9 DURING THE TRANSITION AND ONGOING ON-SITE SERVICE COMMITMENT ON-SITE SUPPORT, ADVICE AND EDUCATION Implementation Administrator/Staff Support and Training: 4 days Employee Counseling: 12 days Employee Group Seminars: 8 days Ongoing Administrator/Staff Support and Training: 6 days Employee Counseling: 36 days (or as needed) Employee Group Seminars: 12 days FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 8

10 INTEGRATED IMPLEMENTATION STRATEGY TIMELINE OF EVENTS PLAN KICKOFF MEETING [ WEEK 1 ] Introduce Implementation Team Discuss Business Requirements and Timing Complete Endorsements/Agreements Determine Communications Strategy ON-SITE ADMINISTRATOR TRAINING [ WEEKS 2 3 ] Review of: Communications Strategy Investment Offerings Administrator and Employee Website Capabilities COMMUNICATE ANNOUNCE [ WEEKS 4-6 ] Announcement Mailing Seminar/Meeting Invitations Employee Website Messages INFORM [ WEEKS 7-8 ] Outreach Campaigns Educational Publications Statement Messages New Hire/ Enrollment Eligibility Mailings COUNSEL AND EDUCATE ON-SITE GROUP MEETINGS [ WEEKS 8-12 ] Financial Education Seminars Enrollment Meetings INDIVIDUAL COUNSELING [ WEEKS 8-12 ] On-Site and Local Office Advice and Counseling Sessions IMPLEMENT AND EVALUATE PLAN CONVERSION [ WEEK 12 ] End-to-End Testing Assets and Data Conversion Blackout Period Launch COMMUNICATIONS ASSESSMENT Post-Campaign Analysis Group Meeting & Counseling Session Assessments Adjustments as Appropriate Ongoing Communication and Education FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 9

FOCUSED ON EFFICIENCY, QUALITY AND CLIENT SATISFACTION Transaction Processing & Reporting Modern portal technology with

operational performance and customer satisfaction Service Capacity Three telephone counseling centers: Denver, Charlotte,

Systems Stability and Security Two state-of-the-art data centers; Level 9 classification Fully redundant infrastructure

11 FOCUSED ON EFFICIENCY, QUALITY AND CLIENT SATISFACTION Transaction Processing & Reporting Modern portal technology with scalable, cost-efficient systems User-centric website navigation, functionality and reporting Quality program that links operational performance and customer satisfaction Service Capacity Three telephone counseling centers: Denver, Charlotte, Dallas Call-handling and interactive voice recognition technology Single-source participant statement and web management Systems Stability and Security Two state-of-the-art data centers; Level 9 classification Fully redundant infrastructure Facilities fully staffed and monitored 24/7 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 10

12 SERVICE EXCELLENCE GUARANTEES IMPLEMENTATION SERVICE QUANTIFIER PENALTY Plan Implementation/ Start Date Mutually agreed-upon implementation date to be determined upon final negotiations; Plan Sponsor to meet all required deadlines $50,000 plan implementation guarantee ONGOING SERVICE QUANTIFIER PENALTY Quarterly Review Statements Mailed 5 business days after quarter end $500 per day up to $5,000 annually Plan Reports (for designated reports) Remittance Processing Delivered 20 business days after quarter end (excluding Compliance Coordinator, nonstandard, adhoc and/or custom reports) If money and data are received in good order before close of business on the NYSE, usually 4 p.m. (ET), we process on that business day (trade date) $500 per day up to $1,000 annually Provide economic equivalent of investment experience from appropriate Trade Date through actual processing date QDRO Processing Four weeks after receipt of complete information, including any court or other required third-party verification, in good order. Requests processed through the automated system in good order can be completed sooner. $500 per day per transaction up to $5,000 annually Employee Website Access Plan Administrator Website Access Available 99% of the time on an annual basis, excluding regularly scheduled maintenance Available 99% of the time on an annual basis, excluding regularly scheduled maintenance $100 per % by quarter up to $2,500 annually $100 per % by quarter up to $2,500 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 11

13 PARTICIPANT SERVICES FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 12 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

14 WORKING TOGETHER TO BUILD A TAILORED COMMUNICATION & EDUCATION PLAN Our four-step approach ensures the plan is tailored to meet your business objectives and the diverse needs of your work force 1 ANALYZE 2 BUILD Understand key drivers Demographics Behavior Market environment Develop the plan Target audiences Messages Timing 3 EXECUTE 4 MEASURE Deliver via appropriate channels In person Phone Mail / Assess and modify Metrics Surveys Feedback FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 13

15 COMMUNICATING WITH YOUR EMPLOYEES IN THE WAYS THEY PREFER IN PERSON On-site Individual Counseling ONLINE On-site Enrollment & Education Seminars Wealth Management TUHS Website TEMPLE UNIVERSITY HEALTH SYSTEM EMPLOYEES PHONE Telephone Counseling Center Automated Telephone Service Virtual Hold / Callback Service MAIL AND Plan Awareness Communications Self-Help Tools and Calculators E-newsletters and Publications Podcasts, Facebook, Webinars Customized Marketing Campaigns FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 14

Diversification and asset consolidation campaigns to help employees stay on track Career

16 TARGETED COMMUNICATION THAT ACHIEVES RESULTS Transition announcements that generate excitement for change Employee engagement campaigns that maximize participation Diversification and asset consolidation campaigns to help employees stay on track Career Stage campaigns to improve outcomes FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 15

COMMUNICATION & EDUCATION PREPARING EMPLOYEES FOR RETIREMENT

glossary Contact information POSTERS, SCHEDULES, INVITATIONS,

COUNSELING Dedicated Consultant Objective advice, recommendations

FINANCIAL SEMINARS Investments Economic forums Life stages EMPLOYEE

Planning tools, resources ENROLLMENT MATERIAL One Decision or Build

transfer, change allocations PHONE CENTER Enrollment Answers &

17 COMMUNICATION & EDUCATION PREPARING EMPLOYEES FOR RETIREMENT TRANSITION ANNOUNCEMENT MAILING What to expect New funds FAQs, glossary Contact information POSTERS, SCHEDULES, INVITATIONS, POSTCARDS Group meetings 1:1 counseling ONGOING SUPPORT EMPLOYEE COUNSELING Dedicated Consultant Objective advice, recommendations ADMINISTRATOR TRAINING, WEBINARS Plan changes Website capabilities FINANCIAL SEMINARS Investments Economic forums Life stages EMPLOYEE WEBSITE Enrollment, transactions Plan details Investments, performance Planning tools, resources ENROLLMENT MATERIAL One Decision or Build Your Own Strategy Profile worksheet Investment menu How to enroll, transfer, change allocations PHONE CENTER Enrollment Answers & assistance Counseling Spanish language FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 16

EXAMPLE: CAREER STAGE CAMPAIGN Goal Optimize participant outcomes through targeted, multi-touch communications using demographic data to create more intelligent messaging and delivery.

18 EXAMPLE: CAREER STAGE CAMPAIGN Goal Optimize participant outcomes through targeted, multi-touch communications using demographic data to create more intelligent messaging and delivery. Use metrics and behavioral changes to refine campaign strategies as different tactics are deployed over time. Targets Early Career: Under age 35 Mid-Career: Ages Pre-Retiree: Over 55 years Sample Message What s your version of a great retirement? Advice. We promise it won t hurt a bit. Are you ready to make the leap to retirement? Call us. Your results are in. Call to Action Schedule an Advice Session FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 17

TIAA-CREF EN ESPANOL A RECOGNIZED INDUSTRY LEADER IN SPANISH LANGUAGE SERVICES In-language and in-culture educational materials for the US Hispanic/Latino community Spanish language website www.

19 TIAA-CREF EN ESPANOL A RECOGNIZED INDUSTRY LEADER IN SPANISH LANGUAGE SERVICES In-language and in-culture educational materials for the US Hispanic/Latino community Spanish language website Spanish-speaking customer service representatives 24-hr automated Spanish-language phone services Spanish-language financial education seminars On-site 1-on-1 sessions in Spanish FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 18

YOUR DEDICATED INDIVIDUAL CONSULTANT COMBINING PERSONALIZED ADVICE WITH

One-On-One Life and Career Stage Counseling & Education Group TIAA-CREF

and Distribution Options Plan, Product and Service Information Telephone

20 YOUR DEDICATED INDIVIDUAL CONSULTANT COMBINING PERSONALIZED ADVICE WITH TARGETED EDUCATION Personalized Objective Advice & Recommendations One-On-One Life and Career Stage Counseling & Education Group TIAA-CREF Individual Consultant Step-by-Step Enrollment Assistance Retirement Income and Distribution Options Plan, Product and Service Information Telephone Account Help FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 19

TIAA-CREF ADVICE AND PLANNING SERVICES DESIGNED TO ADDRESS THE

career and life stages help employees answer three primary

How should I allocate and invest to reach my goals?

GUIDANCE & EDUCATION Asset Allocation Savings Rate Distribution

Advice & Planning Service Personalized Action Plan Plan-Specific

Planning Annual Retirement and Investment Reviews Managed Accounts

21 TIAA-CREF ADVICE AND PLANNING SERVICES DESIGNED TO ADDRESS THE UNIQUE NEEDS OF EVERY EMPLOYEE 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? GUIDANCE & EDUCATION Asset Allocation Savings Rate Distribution Options Retirement Age PERSONALIZED ADVICE & COUNSELING Objective Advice & Planning Service Personalized Action Plan Plan-Specific Fund Selection CUSTOMIZED FINANCIAL SOLUTIONS * Holistic Financial Planning Annual Retirement and Investment Reviews Managed Accounts Discretionary Management Fiduciary Services * These services may not be available to all employees. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 20

22 TIAA-CREF ADVICE AND PLANNING SERVICES SAMPLE 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. 21

TIAA-CREF ADVICE AND PLANNING SERVICES FOR MORE COMPLEX NEEDS Noncommissioned Wealth Management Advisor* Access to an extended team of specialists RETIREMENT

PLANNING INSURANCE PLANNING EDUCATION PLANNING * TIAA-CREF compensates advisors through a salary-plus-incentive program based on client service excellence and

23 TIAA-CREF ADVICE AND PLANNING SERVICES FOR MORE COMPLEX NEEDS Noncommissioned Wealth Management Advisor* Access to an extended team of specialists RETIREMENT PLANNING Holistic financial planning Ongoing, proactive relationship management CHARITABLE PLANNING CLIENT ADVISORY SERVICES ASSET PROTECTION PLANNING ESTATE PLANNING INSURANCE PLANNING EDUCATION PLANNING * TIAA-CREF compensates advisors through a salary-plus-incentive program based on client service excellence and financial results. Advisors will only recommend products that help achieve our clients goals. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 22

24 ADMINISTRATIVE SERVICES/ CLIENT RELATIONSHIP FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 23 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

25 INTEGRATED SERVICE DELIVERY. INDUSTRY-DISTINCTIVE VALUE. Managing Consultant JAMES MANISCALCO ADMINISTRATION NEEDS EMPLOYEE NEEDS IMPLEMENTATION NEEDS Institutional Liaison FIDELIA FLYNN Marketing Director KERRY BETTENHAUSEN Individual Consultant GEORGE CHRISTIANI KATHY JOHNSTON Plan Implementation Manager MIKE MINUTOLO Communication & Education Manager CANDY GROSSMAN Assurance of effective plan administration Support for processing and reporting functions Communication & education plan development and measurement One-on-one advice consultations Group education and enrollment meetings Plan conversion activities Employee communication & education activities FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 24

TEMPLE UNIVERSITY HEALTH SYSTEM AND TIAA-CREF PROGRESS THROUGH PROACTIVE PLANNING We will partner with Temple University Health System to ensure plan progression and evolution Conduct needs

26 TEMPLE UNIVERSITY HEALTH SYSTEM AND TIAA-CREF PROGRESS THROUGH PROACTIVE PLANNING We will partner with Temple University Health System to ensure 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 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 25

27 ADMINISTRATIVE SOLUTIONS TO EASE YOUR WORKLOAD Your Administrative Needs REDUCED RISK Meet fiduciary obligations and ensure regulatory compliance Our Administrative Solutions Plan document services Reporting package, audit support, Signature Ready 5500 Program monitoring, consultative services INCREASED EFFICIENCIES Simplify administration and reduce plan costs Contribution, loan, hardship & distribution services Robust recordkeeping, tax forms and filings INCREASED EMPLOYEE ENGAGEMENT Promote retirement readiness Comprehensive education and communication strategies Advice and Planning Services Brokerage window FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 26

RETIREMENT CHOICE AND RETIREMENT CHOICE PLUS CONTROL, FLEXIBILITY FOR YOU GUARANTEED LIFETIME INCOME FOR YOUR EMPLOYEES Flexibility & Control Investment Choice Low Fees* & Plan Level Expenses

28 RETIREMENT CHOICE AND RETIREMENT CHOICE PLUS CONTROL, FLEXIBILITY FOR YOU GUARANTEED LIFETIME INCOME FOR YOUR EMPLOYEES Flexibility & Control Investment Choice Low Fees* & Plan Level Expenses Guaranteed Lifetime Income** Retirement Annuity (RA) contract form series ; Group Retirement Annuity (GRA) contract form series G1000.4, G1000.5, G and G (not available in all states); Supplemental Retirement Annuity (SRA) contract form series ; Group Supplemental Retirement Annuity (GSRA) contract form series G (not available in all states); Retirement Choice contract form series IGRS ACC, IGRS ACC, and IGRS ACC; Retirement Choice certificate series IGRS-CERT1-5-ACC, IGRS-CERT1-60-ACC, IGRS CERT1-84-ACC; Retirement Choice Plus contract form series IGRSP-01-5-ACC, IGRSP ACC, IGRSP ACC ; Retirement Choice Plus certificate series IGRSP-CERT1-5-ACC, IGRSPCERT1-60-ACC, IGRSP-CERT1 84-ACC are issued by Teachers Insurance and Annuity Association. 730 Third Avenue. New York, NY * The expense ratio on all mutual fund products and Variable Annuity Accounts managed by TIAA-CREF are generally less than half the mutual fund industry average. Source: Morningstar Direct (June 2010), based on Morningstar expense comparisons by category. ** Subject to TIAA's claims-paying ability. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 27

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

29 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 Investment Consulting Compliance Monitoring TIAA-CREF Fiduciary and Compliance Services Plan Review Services Plan Financial Reporting Services FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 28

30 FIDUCIARY AND COMPLIANCE SUPPORT MULTIPLE RESOURCES ON OUR PLAN ADMINISTRATOR WEBSITE 403(b) Resource Center Plan Fundamentals guide Nondiscrimination guide Sample plan documents Help desk Webinars and webcasts Administrator Webinars Understanding Form 5500 Reports Prepare for for Your First-Year Audit Nondiscrimination Testing for for 403(b) Plans Website Orientation and Registration Auditor Webinars 403(b) Audit Requirements FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 29

TIAA-CREF SECURE PLAN ADMINISTRATOR WEBSITE EFFICIENT, CENTRALIZED PLAN MANAGEMENT Convenient, Online Access to Data and Plan Administration Services

Plan and compliance reports Wide variety of report templates Report run scheduling preferences & alerts Publications, forms, resources and help Auditors

31 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. 30

32 DIGITAL STRATEGIES FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 31 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

33 TIAA-CREF S NEXT GENERATION OF DIGITAL INNOVATION EASY, PERSONALIZED, SOLUTIONS-BASED Three pillars underpin everything we do to support you and your employees in the digital realm. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 32

34 INVESTMENTS FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 33 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

existing investment options VALUE ADDED All mutual fund reimbursements used to offset Temple University

35 TIAA-CREF OPEN ARCHITECTURE INVESTMENT LINEUPS FLEXIBLE Open architecture and broad menu discretion COMPREHENSIVE Nearly 15,000 mutual funds through NSCC network EASY Proven process to exchange/replace existing investment options VALUE ADDED All mutual fund reimbursements used to offset Temple University Health System s plan expenses FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 34

36 TIERED APPROACH TO BUILDING MENUS ACCOMMODATING ALL EMPLOYEE NEEDS A tiered investment menu offers choice, serves all employees and, ultimately, delivers financial security in retirement 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 ** * Guarantees are subject to the issuer s claims-paying ability. ** Individual securities are not allowable investments in 403(b) plans. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 35

37 PROPOSED INVESTMENT MENU FOR TEMPLE UNIVERSITY HEALTH SYSTEM TIER I: TARGET DATE/ASSET ALLOCATION MUTUAL FUNDS* TIAA-CREF Lifecycle Retire Inc Premier TIAA-CREF Lifecycle 2010 Premier TIAA-CREF Lifecycle 2015 Premier TIAA-CREF Lifecycle 2020 Premier TIAA-CREF Lifecycle 2025 Premier TIAA-CREF Lifecycle 2030 Premier TIAA-CREF Lifecycle 2035 Premier TIAA-CREF Lifecycle 2040 Premier TIAA-CREF Lifecycle 2045 Premier TIAA-CREF Lifecycle 2050 Premier TIER II: INDEXED AND ACTIVELY MANAGED MUTUAL FUNDS MODERATE ALLOCATION FIXED INCOME LARGE CAP VALUE LARGE CAP BLEND LARGE CAP GROWTH MID CAP VALUE MID CAP BLEND MID CAP GROWTH SMALL CAP BLEND WORLD STOCK EMERGING MARKETS T. Rowe Price Capital Appreciation Adv PIMCO Total Return A Dreyfus Bond Money Market Index Inv TIAA-CREF High Yield R Templeton Global Bond Adv Eaton Vance Large-Cap Value A TIAA-CREF S&P 500 Index Retire American Funds Fundamental Invs R4 Calvert Social Investment Balanced A Jennison Growth T. Rowe Price Growth Stock Adv Morgan Stanley Inst US Md Cp Value P Columbia Mid Cap Index A Jennison Mid Cap Growth Z Royce Total Return Svc American Funds Capital World G/I R4 INT L EQUITY American Funds Euro Pacific Gr R4 DFA Emerging Markets Value R2 REAL ESTATE Cohen & Steers Realty Shares TIAA-CREF International Eq Idx Retire TIER III: ANNUITIES GUARANTEED** MONEY MARKET FIXED INCOME TIAA Traditional Retirement Annuity TIAA Stable Value Annuity TIAA-CREF Money Market Retirement TIAA-CREF Inflation-Linked Bond TIER IV: SELF-DIRECTED BROKERAGE ACCOUNT Expanded choice of 800 no-transaction fee mutual funds and thousands of transaction-fee funds * In addition to the fees and expenses associated with the Lifecycle Funds, there are fees and expenses associated with the underlying investment options. ** Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability. TIAA Traditional and TIAA Stable Value are guaranteed insurance contracts and not investments for federal securities law purposes. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 36

38 THE TIAA-CREF DIFFERENCE FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 37 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

39 OUR GOAL IS TO PROVIDE THE HIGHEST OVERALL VALUE TO TEMPLE UNIVERSITY HEALTH SYSTEM Full Range of Solutions Dedicated Service Teams On-Site Advice and Counseling Services On-Site Group Meetings Tailored Programs Competitive Fee Structure Innovative Planning Tools Outsourced Administration Full Compliance & Fiduciary Support Investment Menu Flexibility Customized Employee Website Automated Enrollment Services Local TIAA-CREF Philadelphia Office FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 38

40 TIAA-CREF STANDS READY TO HELP MEET THE GOALS OF TEMPLE UNIVERSITY HEALTH SYSTEM TEMPLE UNIVERSITY HEALTH SYSTEM GOALS Ease of Implementation of Plan Enhancements Streamlined Plan Administration and Reporting TIAA-CREF SOLUTIONS Dedicated, experienced implementation team backed by our Service Excellence Guarantee Tracking Services, Signature-Ready Form 5500, Audit Support and Plan Reporting Comprehensive Communication and Education transitional and ongoing Increased Employee Engagement and Plan Appreciation Targeted communications delivered in the way your employees prefer and designed to achieve measurable results Employee Engagement Strategies, Auto Enroll, Auto Save, Roth 403(b) 403(b) Personalized, Regulatory Objective Expertise Advice and Guidance Award-Winning, Objective Advice Delivered by Noncommissioned Consultants* Investment Flexibility and Low-cost, High Value Investment Menu Open Architecture; Menu Neutral Pricing * Our Advisors and Individual Consultants receive no commissions. We compensate them through a salary-plus-incentive program that rewards client service excellence as well as financial results. Advisors and Consultants will only recommend products that help achieve our clients goals. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 39

TIAA-CREF AS YOUR EXCLUSIVE PROVIDER THE POWER OF ONE High Touch Simplified Consultative Centralized Plan Employee Investment Client Support Management = Services Monitoring HIGHEST VALUE ONE TEAM

41 TIAA-CREF AS YOUR EXCLUSIVE PROVIDER THE POWER OF ONE High Touch Simplified Consultative Centralized Plan Employee Investment Client Support Management = Services Monitoring HIGHEST VALUE ONE TEAM dedicated to serving your needs supports implementation of best-practice solutions that align with your benefits and workforce objectives ONE SOURCE for administration, recordkeeping and compliance services leads to better strategic plan management ONE PROVIDER for counseling, education and communication creates a consistent experience that is vital to maximizing plan participation ONE PLATFORM for all investments makes it easy to monitor your menu ONE PRICE for all-inclusive plan services provides Temple University Health System with the highest overall value in the marketplace FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 40

42 MAKE A CHANGE FOR THE GOOD. SM FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 41

43 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 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), New York, NY C49201 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 42

44 APPENDIX FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 43 FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.

45 DURING THE TRANSITION SAMPLE COMMUNICATION & EDUCATION TIMELINE TIAA-CREF Selected 12-WEEK PROCESS Transition Complete Strategy meeting Announcement mailing and Plan Document provided Final fund selection and mapping Finalize Administrator transition training on communications communications and group meeting topics Plan provisions Agreements Administrator training on website capabilities Blackout notice Begin group meetings Begin individual counseling sessions Coordinate asset transfer with prior recordkeeper Begin ongoing communications Assets received FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 44

46 TIAA-CREF ADVICE AND PLANNING SERVICE RECOGNIZED FOR EXCELLENCE GET ADVICE AT WORK The 3.2 million employees of colleges, hospitals and other not-for-profits whose retirement plans are managed by TIAA-CREF generally have access to the most extensive personal workplace advice. Forbes 2009 Retirement Guide, Playing the Numbers (9/08). This claim should not be seen as an endorsement by Forbes. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 45

CLIENT SATISFACTION THIRTEEN BEST-IN-CLASS SERVICE AWARDS TIAA-CREF received 13 Best-in-Class awards in PlanSponsor s annual Defined Contribution Survey.

47 CLIENT SATISFACTION THIRTEEN BEST-IN-CLASS SERVICE AWARDS TIAA-CREF received 13 Best-in-Class awards in PlanSponsor s annual Defined Contribution Survey. More than 88% of client respondents said they would recommend TIAA-CREF.* Market Size Small Plans ($5M - $50M) Large (> $200M - $1B) Mega (> $1B) Service Category Participant Service Fees Education Program Asset Allocation Focus Communication Materials Education Program Enrollment Assistance Asset Allocation Focus Reporting Timeliness Retiree Services Participant Service Fees Plan Sponsor Services Form 5500 Accuracy Responsiveness Regulation Updates * Based on 133 TIAA-CREF client responses as of September 1, FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 46

EASY-TO-READ QUARTERLY STATEMENT REINFORCING THE IMPORTANCE OF RETIREMENT READINESS Our easy-to-read quarterly statement keeps participants fully informed about their accounts.

48 EASY-TO-READ QUARTERLY STATEMENT REINFORCING THE IMPORTANCE OF RETIREMENT READINESS Our easy-to-read quarterly statement keeps participants fully informed about their accounts. TIAA-CREF ranked 7 th out of 25 providers based on preferences for participant statement content and design.* * Source: DALBAR, 12 th Annual Survey, Trends and Best Practices in Investor Statements, December Based on 300 investor responses. We help your employees see their retirement readiness by systematically educating them on how much they should be saving to achieve retirement income goals FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC. 47

Represents the real estate aspect of the foundation. (Rough Point)

A TIAA-CREF RETIREMENT PLAN PRESENTATION TO: DECEMBER 15, 2010 Represents the real estate aspect of the foundation. (Rough Point) FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO