In this testimony before the President's Commission, Mr. Wolf shares insights based on TIAA-CREF's experience in providing a successful, portable pension system at low cost. He points out that TIAA-CREF does not have a position in favor of or in opposition to creating individual accounts as part of the reform of the nation's Social Security system. As Congress expanded Social Security eligibility to the universal workforce, TIAA-CREF played an important role in ensuring that both private and public colleges could have the option of joining the system.
Mr. Wolf's comments primarily focus on four areas: operating a national, portable retirement system; providing financial education; delivering quality service at low cost; and distributing retirement payments.
