CEW and TIAA-CREF Team Up for Women's Financial Education


TIAA-CREF helps people in the healthcare, academic, cultural and research fields work to achieve lifetime financial security. The organization has more than 3.7 million active and retired participants and serves 15,000 plan sponsors in public and private institutions. To schedule an individual counseling session with a financial consultant at the TIAA-CREF Ann Arbor office, call 734.332.3500 or 1.866.842.2949.

Only 26% of women know how much money they need to save for retirement, according to recent studies. This is a concerning statistic, especially in light of the fact that women live an average of three years longer than men, meaning their retirement savings must last longer.

As CEW develops programming for women at all stages of life and career, we welcome collaboration with experts from within and outside the University. Helping women plan for lasting financial security in retirement is the focus of “She’s Got It: A Woman’s Guide to Saving and Investing,” a two-hour workshop developed by financial services provider TIAA-CREF and conducted by TIAA-CREF financial consultants.

The workshop was a highlight of the Women of Color Task Force (WCTF) 30th annual career conference, held March 2, 2012. More than 50 people, including U-M staff, faculty, students and retirees and members of the general public, attended “She’s Got It,” which was presented twice during the daylong WCTF conference. CEW Director, Gloria D. Thomas, said, “CEW was delighted to team with TIAA-CREF on this year’s conference and the development of the Woman to Woman workshop series."

Creating a CEW and TIAA-CREF Partnership

Pictured left is Cathy McCabe at the WCTF Conference.

TIAA-CREF was the Platinum Plus corporate sponsor of this year’s WCTF conference. TIAA-CREF and U-M have a long history of collaboration, dating back to 1919. U-M was the first institution to adopt TIAA-CREF as a retirement plan provider, and TIAA-CREF maintains its role as a U-M provider.

Cathy McCabe Managing Director of TIAA-CREF’s Field Consulting Group, spoke at the opening of the 2012 WCTF conference. She shared recollections of how her own mother–a professor for 30 years–took advantage of her employer-sponsored retirement plan with TIAA-CREF to help ensure her retirement security.

“Our partnership with TIAA-CREF is a natural fit because of our shared commitment to diversity and women’s education,” noted CEW Director Thomas. For six consecutive years, TIAA-CREF has been named one of Black Enterprise magazine’s “40 Best Companies for Diversity.” Because both CEW and TIAA-CREF are increasing their focus on the later stages of women’s careers, Thomas also pointed out that “this collaboration is timely.”

The “She’s Got It” workshop, which began as a series of successful pilot sessions in November 2011, is currently being rolled out by TIAA-CREF to an array of its client institutions. The workshop’s interactive
format includes an exercise in which attendees break out into teams to generate ideas on how to address specific financial challenges in the context of retirement planning. These ideas are then shared with the entire group as potential action steps.

This is the first of four workshops developed by TIAA-CREF as part of the Woman to Woman Financial Empowerment
Series. Two other workshops, “ Postcards from the Future: A Woman’s Guide to Financially Ever After and “Start to Finish: The Early Career Woman’s Guide to Financial Wisdom,” are available now. A fourth workshop targeting women with more complex financial needs will be available by the end of the year.

CEW and TIAA-CREF Workshops Being Presented This Fall:

Oct. 23 - TIAA-CREF Retirement & Financial Planning

Nov. 5 - TIAA-CREF: Postcards from the Future: A Woman's Guide to Financially Ever After

Dec. 4 - TIAA-CREF: Postcards from the Future: A Woman's Guide to Financially Ever After

Register: www.cew.umich.edu

Speaking of Retirement ...

CEW’s Fall Programming includes a number of other sessions related to retirement planning. The six session series, “Moving from Career Success to Retirement Success,” focuses on the non-financial aspects of retirement planning for those nearing retirement, while “Investment and Retirement Strategies” and “Wills, Power of Attorney, and Estate Planning” allow participants to learn about financial planning, including planning for retirement. For more information and to register, go to www.cew.umich.edu