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Findings in New TIAA Institute Study Counter Common Perceptions of Adjunct Faculty in Higher Education

The 2018 Adjunct Faculty Survey was presented at the 2018 Fellows Symposium by TIAA Senior Economist Paul Yakoboski.

Originally Published by TIAA.

Insight into the demographics, employment experience, career satisfaction and position preferences of adjunct faculty at colleges and universities across the country was released today by the TIAA Institute. The 2018 Adjunct Faculty Survey study revealed that the majority of adjunct faculty are over the age of 40 and primarily teach at a single college or university, countering common perceptions that faculty is younger and teach at multiple colleges while pursuing a tenure-track position.

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TIAA Promotes Corie Pauling to Chief Diversity & Inclusion Officer

"There is no better time for Corie to step into the Chief Diversity & Inclusion Officer role as we celebrate our centennial year and embark on our future," said TIAA President and CEO Roger W. Ferguson, Jr.

TIAA, a leading financial services provider, announced the promotion of Corie Pauling to Chief Diversity & Inclusion Officer. She reports to Sean N. Woodroffe, Chief Human Resources Officer.

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TIAA: Introducing a New Custom Default Solution, TIAA RetirePlus

TIAA RetirePlus is a simple way for plan sponsors and consultants to offer a custom set of model portfolios designed to be QDIA-eligible.

Originally Published by TIAA.

TIAA, the largest provider in the nonprofit retirement market, announced TIAA RetirePlus, a new addition to their suite of Custom Default Solutions that offers predefined asset class models, easing implementation.

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TIAA Unveils the TIAA Difference Maker 100 Recognizing Extraordinary People Helping to Create a Better Tomorrow

Company marks centennial by celebrating nonprofit employees' contributions to the world; awards $1 million to nonprofits in their honor.

Originally Published by TIAA.

TIAA announced the TIAA Difference Maker 100 Honorees – 100 individuals working in the nonprofit sector who have made significant contributions in their communities and throughout the world. TIAA will recognize each of the 100 honorees with a $10,000 donation in their name to the nonprofit organization they support, totaling $1 million in contributions.

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TIAA: Mission and Job Satisfaction Give Nonprofits an Edge Over For-Profit Companies in Attracting and Retaining Talent

Nonprofit employees and managers define success by how they make a difference in the lives of others.

A new TIAA survey finds three out of four employees and eight in ten managers choose to work at their nonprofit organizations – and stay there for years – because they're committed to making a difference in people's lives.

The Nonprofit Survey, conducted as part of TIAA's 100-year anniversary and the TIAA Difference Maker 100 program, also found that nonprofit employees and managers are nearly twice as likely to feel that success is defined not by compensation (33 percent and 32 percent) but by helping others, their community or society (71 percent and 77 percent).

"This year marks 100 years of TIAA serving those across the academic, research, cultural, medical, government and nonprofit fields who have dedicated their lives to others," said Roger W. Ferguson, Jr. president and CEO of TIAA. "We have witnessed firsthand the positive impact these extraordinary individuals have had on the world, and thought what better time than now to shine a light on them, their motivations and how their work brings fulfillment to their own lives."According to the survey, managers believe an organization's values and mission (76 percent) and its ability to offer interesting and satisfying work (64 percent) are two big advantages nonprofit organizations have compared to for-profit companies.

Job security and satisfaction translates to longevity

Fulfilling and interesting work may be one reason employees build long careers in the nonprofit sector. The survey finds:

  • A majority of employees and managers – 65 percent and 74 percent respectfully – have worked in the nonprofit sector for six or more years, with more than half reporting that they've been at their present employer for six years or longer. This is nearly two years longer than the median tenure for employees across all industries (4.2 years), according to U.S. Bureau of Labor Statistics data.
  • More than two-thirds of managers who have been in the sector for six to 10 years think nonprofits do a better job promoting diversity in the workforce than for-profit companies.
  • A striking 73 percent of millennial managers in the sector think nonprofits are better at creating interesting and satisfying jobs than for-profits, a finding that may resonate with individuals who are looking to create an impact while earning a paycheck.

The spirit of helping others spans generations and retirement

The survey shows a strong commitment to giving back among nonprofit employees.
  • Ninety-one percent of employees and 97 percent of managers feel they are personally making a positive difference in their work.
  • Three fourths of employees and 82 percent of managers at nonprofits say they continue to work at their nonprofit organizations because they want to make a difference in other people's lives.
  • This spirit resonates throughout generations: 76 percent of millennial managers choose to work at nonprofits because they want to create real change in their communities, while 78 percent of baby boomer employees say the values and mission of the organization is important in choosing to work for a nonprofit.
  • This commitment also continues for many people into retirement: Among nonprofit managers, 56 percent plan to volunteer more of their time to a good cause, 42 percent plan to contribute to the work their nonprofit is focused on, and 36 percent plan to contribute to charities they are passionate about. Among managers who have worked in the nonprofit sector for 11 or more years, 61 percent plan to volunteer more time to a cause during their retirement.

Are nonprofit employees and managers financially ready for retirement?

While most nonprofit employees and managers are confident they are saving enough for retirement (50 percent and 64 percent), the survey shows some gaps:
  • A majority of all nonprofit workers (62 percent) have yet to calculate how much they will need to retire comfortably. That number rises to 80 percent for millennial employees.
  • More than half of nonprofit employees and managers plan to finance their retirement through either their workplace retirement plan or Social Security. Yet only 39 percent of millennials think they will be able to fund their retirement through Social Security and 55 percent through their workplace

TIAA: Mission and Job Satisfaction Give Nonprofits an Edge Over For-profit Companies in Attracting and Retaining Talent

Nonprofit employees and managers define success by how they make a difference in the lives of others.

Originally Published by TIAA.

A new TIAA survey finds three out of four employees and eight in ten managers choose to work at their nonprofit organizations – and stay there for years – because they're committed to making a difference in people's lives. The Nonprofit Survey, conducted as part of TIAA's 100-year anniversary and the TIAA Difference Maker 100 program, also found that nonprofit employees and managers are nearly twice as likely to feel that success is defined not by compensation (33 percent and 32 percent) but by helping others, their community or society (71 percent and 77 percent).

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Inspiring Words of Wisdom for Latina Women and Immigrants

"Take advantage of the excellent resources and tools available to you," says Corporate Finance Manager, Elsa Carballo

Produced by: Alana Winns
Videography by: Christian Carew

TIAA: Study Finds Millennial Financial Technology Users Can Benefit from Financial Literacy

Millennials surveyed in the annual Personal Finance Index display low levels of financial literacy; study also found those who use financial technology do not always make sound financial decisions.

Originally Published by TIAA.

A new report, released by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, found there is a financial literacy gap among millennials. The report also found that while most millennials use their smartphones to manage their personal finances, financial technology (fin-tech) does not necessarily improve their personal finance management practices.

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TIAA Celebrates Diversity Awareness Month and 10 Years of Service to Employees Through Its Diversity & Inclusion Team

TIAA has made significant additional strides in the last decade in many ways.

By TIAA

Diversity Awareness Month is about raising awareness for the need for diversity in the workforce, and celebrating the awareness of your own diversity within yourself and others, and sharing that unique diversity openly and proudly with others, which can help create inclusion and collaboration in the workplace.

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TIAA: Healthcare Costs and Outliving Savings Dampen Employer Confidence in Employees' Retirement Futures

Survey finds nonprofits are more likely than for-profits to recommend lifetime income solutions.

Originally Published by TIAA.

A new 2018 TIAA Plan Sponsor Retirement Survey finds nearly half of nonprofit and corporate, for-profit employers are only somewhat confident in their employees' retirement futures and one in five say they are not at all confident. Nearly all surveyed cited rising healthcare costs (91 percent) followed by outliving retirement savings (77 percent) as their biggest concerns, yet surprisingly few have built retirement plan offerings that solve for these challenges.

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Medical College of Georgia Foundation Selects TIAA Endowment & Philanthropic Services to Manage $240 Million Endowment

TIAA was selected for its solution that incorporates sophisticated risk management and spending policy optimization, as well as a portfolio that is diversified across traditional and high quality alternative asset managers.

Originally Published by TIAA.

TIAA announced TIAA Endowment & Philanthropic Services has been selected as Outsourced Chief Investment Officer (OCIO) for the $240 million endowment of the Medical College of Georgia Foundation.

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TIAA: Penn State University Launches New Donor-Advised Fund

TIAA Charitable to help Penn State donors enhance their overall philanthropy while supporting the University.

Originally Published by TIAA.

Penn State has partnered with TIAA Charitable to provide alumni and friends with a leading-edge donor-advised fund, the Penn State Giving Fund, which they can use to enhance their overall philanthropy while supporting the University. Donors can now open a Penn State Giving Fund.

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