TIAA-CREF invented the first variable annuity with the CREF Stock Account in 1952. They subsequently offered nine additional variable annuities along with TIAA Traditional to form ten core investment options available at almost every university across the United States. Although these accounts act and perform very much like mutual funds, they were different in the fact that they did not have ticker symbols. Ticker symbols are a five digit alpha code used to identify mutual funds. For years, investment professionals, personal investors, and investing software struggled to track TIAA-CREF’s variable annuities. That is – until now.
New Ticker Symbols
On April 24, 2015 TIAA-CREF will implement a new class structure for their variable annuities (See my previous article titled Big Changes in CREF: Higher Fees and More Decisions). With this change, comes the new issuing of NASDAQ ticker symbols for the eight CREF accounts (this excludes TIAA Traditional and TIAA Real Estate). Although the change to class structures is troubling on many accounts, the rollout of ticker symbols should make it easier for investors to track and work with the CREF Variable Annuities.
This article is written by Kevin J. McNab. Kevin works with professors, doctors, and university employees across the country as the leading Wealth Manager to clients in the academic, medical, and cultural fields.
