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TIAA-CREF and AARP Launch AARP® College Savings Solutions from TIAA-CREF

New program to provide AARP members with education and information about college savings

TIAA-CREF Press Contact

Chad Peterson

888 200 4062, media@tiaa-cref.org

AARP Press Contact

 David Allen

202 434 2560, media@aarp.org, @AARPMedia

TIAA-CREF and AARP Launch  AARP®  College Savings Solutions from TIAA-CREF

New program to provide AARP members with education and information about college savings

‘Power a Dream’ marketing campaign designed to increase awareness and help AARP members play a bigger role in saving for loved ones’ college education

NEW YORK, February 20, 2013 – TIAA-CREF, a leading financial services provider, and AARP today announced a new program designed to provide AARP members with comprehensive education and information on college savings plans. Through AARP® College Savings Solutions from TIAA-CREF, AARP members can learn about the many benefits of college savings plans and gather specific information about the various 529 plans available to them.

“Saving for college has become a family affair, and parents and grandparents alike can play a vital role in helping students attend – and thrive – at their preferred college or university. However, with only 30 percent of parents using 529 accounts to save for college,[1] many families are missing out on a fantastic opportunity to invest in their children’s future,” said Roger W. Ferguson, Jr., president and chief executive officer, TIAA-CREF. “We feel privileged to work with AARP and help its members support the educational needs of their loved ones, so they can begin their adult lives with a strong foundation.”

AARP members will have access to a customized, comprehensive website to help them better understand how college savings plans work and the many tax benefits these plans may afford most families. It also provides objective information about 529 plans, including the state-sponsored 529 plans managed by TIAA-CREF.

The website provides information to assist AARP members on how to open accounts with these plans or make gifts to family members’ existing TIAA-CREF-managed 529 plans from anywhere they have Internet access. Members also can speak with education savings specialists by phone to get answers to their questions about college savings plans.

“TIAA-CREF designed this program with AARP members and their families in mind, and we’re pleased they have access to another product that meets the high service and real quality standards they have come to expect of a product or service carrying the AARP name,” said John Wider, CEO of AARP Services, Inc.

[1] http://www.collegesavingsfoundation.org/pdf/CSFExecSummaryStateofCollegeSavingsSurvey.pdf

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