Alfonse D'Amato: “2 million college faculty participants-- 260,000 in my State of New…”

On the recordJuly 31, 1997

2 million college faculty participants-- 260,000 in my State of New York--rely on TIAA and CREF pensions to provide retirement security. Participants know when they choose CREF, every contribution dollar goes to the retirement annuity accumulations, or payout company, CREF offers no guarantees nor does it maintain contingency reserves. Yet CREF performs functions similar to a separate account of a life insurance company by allowing retirees to receive variable annuity payouts. I would like to join Senator Moynihan and ask Senator Roth, the distinguished chairman of the Finance Committee, to comment on the intent of the bill concerning the taxation of CREF?

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Alfonse D'Amato

Source

govinfo.gov

Editor's note · Context

Discussing the implications of CREF pensions for college faculty and seeking clarification on taxation in a bill.

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Alfonse D'Amato: “2 million college faculty participants-- 260,000 in my State of New York--rely on TIAA and CREF pensions to provide…”

Editor's note · Context