TIAA 2014 Annual Report Download

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TIAA-CREF
Individual
&
Institutional
Services, LLC
Statement
of
Financial Condition
December 31, 2014

Table of contents

  • Page 1
    TIAA-CREF Individual & Institutional Services, LLC Statement of Financial Condition December 31, 2014

  • Page 2
    TIAA-CREF Individual & Institutional Services, LLC Index December 31, 2014 Page(s) Report of Independent Registered Accounting Firm ...1 Financial Statement Statement of Financial Condition ...2 Notes to Statement of Financial Condition ...3--6

  • Page 3
    ...Accounting Firm To the Board of Managers of TIM-CREF Individual & Institutional Services, LLC In our opinion, the accompanying statement of financial condition presents fairly, in all material respects, the financial position ofTIAA-CREF Individual & Institutional Services, LLC at December 31, 2014...

  • Page 4
    TIAA-CREF Individual & Institutional Services, LLC Statement of Financial Condition December 31, 2014 Assets Cash Cash segregated under regulatory requirements Advisory fees receivable Receivable from clearing broker Due from affiliated entities Receivable from non-proprietary funds Other assets ...

  • Page 5
    ... mutual funds. Services maintains a Phone Center and Field Support Agreement with TIAA-CREF Tuition Financing Inc. ("TFI") under which Services is compensated for actual costs incurred for services it provides to TFI in its role as program manager for various state tuition savings plans...

  • Page 6
    ...Any investments owned are carried at fair value and held at State Street Bank and Trust Company or Pershing LLC . 3. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 Revenue from Contracts with Customers...

  • Page 7
    ... The Company offers discount brokerage services through Pershing, LLC (the "Clearing Broker") on a fully disclosed basis. Pursuant to the terms of the agreement between the Company and the Clearing Broker, the Clearing Broker has the right to charge the Company for losses that result from a customer...

  • Page 8
    ... of variable annuity contracts by College Retirement Equities Fund ("CREF") and for the distribution activities on behalf of the TIAA Real Estate Account (" REA"). Such activities performed by Services are at cost, pursuant to a Principal Underwriting and Administrative Services Agreement with CREF...