In early June, participants in Ithaca College’s 403(b) Retirement Plan received a communication from TIAA, our service provider, announcing some exciting fund additions that were being made to the Plan.
The college’s Retirement Plan Oversight and Investment Committee wanted to provide you with greater insight regarding the rationale and purpose for these additional funds, which meet environmental, social, and governance (ESG) criteria for sustainable investing.
ESG criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Environmental criteria consider how a company performs as a steward of nature. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.
In accord with our campus community values and the college’s Strategic Plan, we are continually considering initiatives that meet and advance IC’s sustainability and social mission. To further that mission and to allow employees to support their retirement investing goals, the 403(b) Retirement Plan now offers additional socially responsible investment options, including:
These additional options will allow participants to further diversify assets across Bonds and U.S. and International Stocks, and serve to complement the Plan’s current socially responsible offering - CREF Social Choice. Please call 800.732.8353 with questions or sign up online at www.tiaa.org/public/support/contact-us/consultations-seminars to meet with a TIAA representative in person.
The college’s Retirement Plan Oversight and Investment Committee is pleased to be able to offer these options to the Ithaca College community, and continue to be committed to offering a competitive retirement program.