I received a Form 5498 (IRA Contribution Information) from TIAA CREF. It says that the form was sent to IRS as required. Do I need to also report this via Turbo Tax?

No, you don't need to report Form 5498.

Form 5498 is for informational purposes only and is not reported on your income tax return.  The form reports your annual IRA contributions, defines the type of retirement account you have, it also reports any rolled over or transferred amounts from different types of retirement accounts. 

For more information on form 5498, please refer to the link below:

http://blog.turbotax.intuit.com/tax-tips/what-do-you-do-with-form-5498-2-153/

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-IRS-Form-5498-/INF14779.html