Department of Insurance Announces Multi-Million Dollar Settlement with TIAA-CREF
Press Release: Illinois Department of Insurance (DOI) Director Andrew Boron today announced an agreement with Teachers Insurance and Annuity Association of America and TIAA-CREF Life Insurance Company (collectively, TIAA) as part of a multi-million dollar settlement with several states. Under the settlement, TIAA agreed to change business practices related to the payment of life insurance benefits and also agreed to pay $6,200,000 to states that are a party to the settlement.