http://www.9news.com/news/article.aspx? ... =339&GID=0

DENVER - TIAA-CREF's plan to send some information processing jobs overseas will impact its large local office.

The retirement company's 1,400 Denver-based employees were informed of the decision Friday.

A company spokesman said the plan impacts 70 jobs in Denver.

"Based on our experience, the goal is to effect this transition through normal attrition," spokesman Chad Peterson said. "Our commitment to Denver, one of our largest offices, remains strong."

TIAA-CREF described the jobs being outsourced as "transaction processing" positions.

The company did not say how many total jobs nationwide were identified for outsourcing.

TIAA-CREF serves employees in higher education and various nonprofit sectors.

"Any savings we achieve in the way we operate directly benefits our participants," Peterson said. "We are always looking for ways to reduce our costs while maintaining our high level of quality and service."

The president and CEO of TIAA-CREF, Roger W. Ferguson, Jr., serves on President Obama's Economic Recovery Advisory Board, according to news releases on the White House and TIAA-CREF Web sites.