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TIAA-CREF Uses NaviSys System

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NU Online News Service, March 31, 2005, 3:32 p.m. EST

A large New York insurer is using a system from an Edison, N.J., firm to introduce and administer deferred fixed and variable annuities.[@@]

The insurer, Teachers Insurance and Annuities Association-College Retirement Equities Fund, New York, has started implementing the Home Office system from NaviSys Inc.

TIAA-CREF hopes to put about 100,000 existing annuity contracts on the Home Office system by the end of the year, NaviSys says.