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TIAA |
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An affiliate of TIAA will contribute 85% of the equity in the joint venture, and an affiliate of Developers Diversified will contribute 15% of the equity in the joint venture. TIAA's variable annuity became live in July 1952, according to Gene Strum, vice president of pension product actuarial and a 35-year employee of TIAA and its companion organization, College Retirement Equities Fund (CREF). TIAA, a stock life insurance company, along with its subsidiary TIAA-CREF Life Insurance Company, is one of just two insurance companies to receive the highest credit ratings from all major rating agencies. |
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