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Corporate Social Responsibility
News
7.19.2005 ET
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CSR News from:
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News Category:
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CREF Holds Annual Meeting
(CSRwire) NEW YORK - The College Retirement Equities Fund (CREF), an
investment company within the TIAA-CREF financial services organization,
held its annual meeting today at the company's New York headquarters.
"Today, we stand on the verge of being able to fulfill our mission in a
new way - a way that more effectively meets our participants' modern-day
needs," said TIAA-CREF Chief Executive Herb Allison.
"We will set a new standard by being a financial services organization
completely in step with our clients' best interests, offering high-value
products and services, objective advice, non-commissioned consultants and
an open choice of world-class products tailored to our clients' ultimate
financial goals," Allison added.
In other meeting-related actions, CREF participants:
- Elected two new trustees to the CREF Board
- Eugene Flood, Jr., Ph.D. President and CEO of Smith Breeden
Associates, Inc.
- Howell E. Jackson, James S. Reid, Jr., Professor of Law and Vice Dean
for Administration and Budget at Harvard Law School
- Re-elected six current trustees: Willard T. Carleton; Nancy L. Jacob;
Bevis Longstreth; Bridget A. Macaskill; Maceo K. Sloan; and Ahmed H.
Zewail.
- Ratified the board of Trustees' selection of PricewaterhouseCoopers
as CREF's independent auditors for the fiscal year ending December 31,
2005 (approximately 96% for, 1.5% against and 2.5% abstaining)
- Rejected a participant proposal requesting CREF obtain an advisory
report in the event of a future restructuring (approximately 22% for, 71%
against and 7% abstaining)
(All voting results are preliminary, but are expected to be within 1% of
final tallies.)
Mr. Allison stated that TIAA-CREF would continue discussions on how best
to expand its socially responsible commitment - either through the
products it offers or through the active ownership strategies it
undertakes.
About TIAA-CREF
TIAA-CREF is a national financial services organization and the leading
provider of retirement services in the academic, research, medical and
cultural fields. With more than $350 billion in combined assets under
management (6/30/05), TIAA-CREF is one of Fortune magazine's 100 largest
U.S. companies (April 2005). Further information can be found at http://www.tiaa-cref.org.
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal
Investors Services, Inc., distribute securities products. You should
consider the investment objectives, risks, charges and expenses carefully
before investing. Please call 1-800-842-2776 from 8 a.m. - 10 p.m. ET,
weekdays, 9 a.m. - 6 p.m. ET on Saturday or access our website at http://www.tiaa-cref.org for a
prospectus that contains this and other information. Please read the
prospectus carefully before investing.
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