Nationwide and the Insured Retirement
Institute are saying they, too, want to do more.
The Teachers Insurance and Annuity
Association — the sixth biggest annuity issuer in the United States, in
terms of 2019 annuity considerations — says it’s trying to “healing
healing and inclusion during this troubled time” by starting a Be The Change
outreach program.
Roger Ferguson Jr., TIAA’s president and chief
executive officer, said in a message to the company’s clients that the new
initiative will help the participants bring their strengths to bear on making
things better.
Here’s the full text of Ferguson’s message:
To our clients:
Like so many of
you, we at TIAA, TIAA Bank and Nuveen are grieving over the recent senseless
and tragic deaths of George Floyd, Breonna Taylor, and Ahmaud Arbery. We are
pained by these innocent lives cut short. Yet we are heartened by the way
countless Americans have stepped up peacefully to demand change.
We also recognize
that Americans are feeling a wave of emotions at this difficult time —
fear, anxiety, anger. We are saddened to see this take the form of violence and
looting during peaceful protests in many of our cities. This is not the answer
to the important task we face: rooting out racism in our society.
As we contemplate
the challenge of these times, we are compelled to affirm TIAA’s longstanding
and unwavering commitment to the ideals of a diverse and inclusive society –
one in which racism has absolutely no place. TIAA has a long history of
actively opposing racism in all its forms, and our resolve is stronger than
ever today.
To be sure, our
nation has come a long way in addressing the scourge of racism. As someone who
started his education at a segregated elementary school, I’ve experienced
first-hand the progress we’ve made. Yet the pace has been slower than we’d
like, and the long line of tragedies like those we have recently
experienced — as well as the disproportionate impact the COVID-19
crisis has had on minority communitiesvunderscore that there’s still much work
to do.
TIAA has made
diversity and inclusion a cornerstone of our own culture. In doing so, we have
aligned ourselves with the values that you, our clients, live on a day-to-day
basis through your inspiring work — values that are grounded in the
dignity and worth of every human being. To do our part to promote healing and
inclusion during this troubled time, we are launching our Be The Change program
to uplift our workforce and our communities through dialogue, education, and
engagement. We hope our program will help to make a difference in creating the
kind of change we all want to see.
The places you
work — universities, colleges, hospitals, schools — are
leaders in our society in striving to expand diversity and inclusion and bring
their strengths to bear for the benefit of all humankind. It’s another way you
help to make the world a better place. We are proud to stand with you, and we
are committed to continuing to raise our voice, with increased urgency, to push
forward toward a more just and equal society.
Roger W. Ferguson,
Jr. TIAA President and
CEO
In related news, two other life and annuity
organizations, Nationwide Mutual Insurance Company and the Insured Retirement
Institute, have put out responses to the crisis.
Nationwide CEO Kirt
Walker’s message
I spent a good deal
of time reflecting on current events over the weekend. I thought about our
Nationwide values, how valuing people is intentionally at the top of the list.
I thought about our caring culture and how proud I am of the strides we’ve made
in cultivating a diverse and inclusive work environment. I also thought about
the journey ahead, and how it’s imperative that we continue to make
progress — both within Nationwide and outside our walls.
The past week has
been filled with significant emotion We are saddened, angry and concerned by
the tragic death of George Floyd in Minneapolis, and we send our deepest
condolences to his family for their loss. We’re alarmed about the destruction
in our communities. We are struggling to make sense of everything and determine
what we can do to be a force for good and affect change.
The images we have
seen shed a light on the opportunities before us. This is why I have signed a
letter in support of a resolution before the Columbus City Council which would
declare racism to be a Public Health Crisis.
Additionally, my leadership
team and I are taking time to sit down and listen to our associates in the
midst of these events. Now more than ever, we need to listen. And not just
listen to hear, but listen to understand. Only when we take the time to
understand and appreciate the unique points of view of others can we make
meaningful change.
Our company has
prided itself in building a culture based on diversity and inclusion. While I
admit I’ll never fully understand what it is like to be a person of color, I
know right from wrong. And I know that if any part of my team is impacted, it
impacts us all. At its heart, that’s what our “On Your Side” slogan means. It
means holding one another accountable when we see injustice. And it means
listening to one another–not just to hear or be heard, but to understand and be
understood.
In the coming days,
I encourage each of us to step outside of our comfort zones, seek to
understand, engage in productive conversations and hold ourselves accountable
for being part of the solution.
We must forever
stamp out racism and discrimination.
The IRI statement
To Secure Our
Future, We Must Address and Change Our Present
The Insured
Retirement Institute grieves with our nation, with the Minneapolis community
and with the family of George Floyd. We are immensely saddened and struggling
to comprehend this terrible injustice.
We cannot forget
him or the tragically long list of Black Americans who have unjustly lost their
lives or been denied even the most basic human rights solely because of the
color of their skin. If we do, tragedy will continue to repeat itself.
IRI and our members
and employees are committed to solutions that help people secure their
long-term financial well-being. But communities and the people in them are
hindered from pursuing that financial security when deprived of justice,
dignity, and understanding. To secure our future, we must address and change
our present.
IRI has always
approached matters of public policy through a belief in constructive engagement
with all stakeholders. As such, we stand with and are in strong agreement with
the words of Representative John Lewis, who issued a powerful statement on the
events of the past week that included the following:
“Our work won’t be
easy — nothing worth having ever is — but I strongly
believe, as Dr. King once said, that while the arc of the moral universe is
long, it bends toward justice.”
As an industry and
as an association, we are committed to an empowered, diverse workforce and to
serving and treating all people equally with dignity and compassion. We must
and will examine ourselves and our industry so we can serve as an example to
others. We must and will address injustices where we can. And we are dedicated to
working together to understand each other and to build better relationships,
better communities and a better nation for all of us today and for the
tomorrows to come.
Allison Bell, ThinkAdvisor's insurance editor, previously
was LifeHealthPro's health insurance editor. She has a bachelor's degree in
economics from Washington University in St. Louis and a master's degree in
journalism from the Medill School of Journalism at Northwestern University. She
can be reached at abell@alm.com or on Twitter at @Think_Allison.
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