Financial Planning

TIAA-CREF Unit Adds Four: The Advisor Services unit of TIAA-CREF, a major pension provider and financial services concern said that it has added four executives.

by Cynthia Harrington, CFA

by Bob Rywick

by Melissa Klein

Equitable Enhances Product Portfolios: The Equitable Life Assurance Society of the United States - a wholly owned subsidiary of AXA Financial Inc. - has redesigned its Universal Life and Survivorship Universal Life product portfolios with enhancements of existing features and benefits.

AIG To Begin Expensing Stock Options: Insurance and financial services concern American International Group Inc. has joined a growing list of Fortune 500 companies that have said they will begin expensing stock options. The company said that it would begin reporting the value of its employee stock options as an expense beginning next year. The company, however, said that it would have a scant impact on earnings, pointing out that had the company expensed options in 2001, it would have reduced its EPS by just 5 cents. In recent weeks, other companies, such as General Electric, Bank One Corp., Coca-Cola Co. and Procter & Gamble Co. have said that they will begin expensing options.

by Bob Rywick

Neuberger Berman To Expense Options: Investment advisory concern Neuberger Berman Inc. said it would expense the cost of all stock options the company grants beginning January 2003.

by Bob Rywick

by Bob Rywick