MS 0214402144 Microsite Pages** 461 SWASHINGTONII 2144 City University of New York 2144 City University of New York 2009-11-17T09:24:26.205001 09/30/2009 2144 City University of New York NY Y Y N ( ) - N (800) 842-2776 Premier Non-Sole Recordkeeper 1 http://www.tiaa-cref.org/cuny CT NJ NY Y 3551 cuny http://www.tiaa-cref.org/cuny http://enroll.tiaamax.com/staging/cuny http://www1.cuny.edu/about/colleges.html Y 1 4184 2031 CUNY web.gif Y Y 4186 4184 33307 33306 33305 24047 4186 CUNY 401(a) Plan City University of New York CUNY Optional Retirement Program (Employer Program) GRA 0 0 151169 001 0 1 0 1 1 0 1 1 Paper 1 0 This is HARDCODED URL N N Y Money Market Fund Y 0 19000101 0 20070227 0 0 Lifecycle funds Y CUSTOM Membership in the ORP is open to full-time Instructional Staff (Teaching and Non-Teaching, Classified Managerial, or Executive Compensation Plan employees). <UL> <LI> <DIV class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto">Full-time employees must join a retirement program. You must elect a Program within your first 30 days of employment; once you choose, your election may not be changed.</DIV></LI> <LI> <DIV class=MsoNormal style="MARGIN: 0in 0in 0pt; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto">New employees without pre-existing vested open plan retirement contracts from TIAA-CREF will receive accumulated university <A href="plan_det_contr_4186.html">contributions</A> to the Program once they have completed 366 days of service. (If you do not serve for at least 366 days, the university will not contribute to your account, and your own <A href="plan_det_contr_4186.html">contributions</A> will be refunded with interest.)</DIV></LI></UL> Employee Pre-Tax (E) CUSTOM The Optional Retirement Program requires appointed members to contribute a certain percentage of base salary through regular payroll deductions as a condition of employment. The Optional Retirement Program requires members hired on or after July 17, 1992 to contribute 3% of base salary through regular payroll deductions. Legislation passed in 2007 requires the state or the city to pick up the 3% employee contribution after 10 years of ORP membership by increasing the employer contribution correspondingly. This will be phased in over a three-year period, with 1% being eliminated from your contribution (and added to the employer contribution) as of April 1, 2008; 2% as of April 1, 2009; and the full 3% as of April 1, 2010. The university also will contribute the equivalent of 8-10% of salary on your behalf, depending on your length of service. (Earlier appointees receive university contributions based on their salary levels; see table below for details.) Members hired prior to July 17, 1992 are required to contribute 1.5% of base salary through regular payroll deduction. The state or city will pick up the 1.5% employee contribution after 10 years of ORP membership by increasing the employer contribution correspondingly. This will be phased in over a two-year period with 1% being eliminated from your contribution as of April 1, 2008 and 0.5% being eliminated as of April 1, 2009. For new members: During the initial 366-day service period described in <A href="plan_det_elig_4186.html">Eligibility</A>, both your contributions and those of the university will accumulate in interest-bearing accounts. At the end of this period, the university will transfer a single lump-sum contribution, with interest, to TIAA-CREF covering the period, followed by regular biweekly contributions. In addition, your own contributions will be transferred to TIAA-CREF. Note: If you do not complete 366 days of service, your initial contributions will be refunded to you with interest, but you will not receive the university's contributions.  Contribution levels for new and existing Optional Retirement Program members are based on your employee tier,  according to this schedule: <TABLE style="WIDTH: 552px; HEIGHT: 257px" cellSpacing=1 cellPadding=1 width=552 align=center border=1> <TBODY> <TR> <TD> Tier</TD> <TD> Hire Date</TD> <TD> CUNY Contribution Rate</TD> <TD> Your Contribution</TD></TR> <TR> <TD> Tier I</TD> <TD> Before June 30, 1973</TD> <TD> 10.5% of salary up to $16,500 13.5% of salary over $16,500</TD> <TD> 1.5% of Net Salary</TD></TR> <TR> <TD> Tier II</TD> <TD> July 1, 1973 - July 26, 1976</TD> <TD> 10.5% of salary up to $16,500 13.5% of salary over $16,500</TD> <TD> 1.5% of Net Salary</TD></TR> <TR> <TD> Tier III</TD> <TD> July 27, 1976 - Aug. 31, 1983</TD> <TD> 10.5% of salary up to $16,500    13.5% of salary over $16,500</TD> <TD> 1.5% of  Gross Salary</TD></TR> <TR> <TD> Tier IV </TD> <TD> Sept. 1, 1983 - July 16, 1992</TD> <TD> 10.5% of salary up to $16,500    13.5% of salary over $16,500</TD> <TD> 1.5% of  Gross Salary</TD></TR> <TR> <TD> Tier V</TD> <TD> July 17, 1992 or later</TD> <TD> 8% of salary/up to 7 years of service 10% of salary/over 7 years of service</TD> <TD> 3% of Gross Salary</TD></TR></TBODY></TABLE> Fixed Percent 0 0 CUSTOM Please see <A href="plan_det_contr_4186.html">Contributions</A> for details. Y CUSTOM "Vesting” refers to an employee's right to receive the employer's portion of retirement benefits whether or not they continue their CUNY employment. Your contribution to this account will be 100% vested immediately. Once you have completed 366 days of service with CUNY (waived for employees who enter service with a pre-existing vested open TIAA-CREF retirement Program contract) you are fully vested in all retirement and death benefits provided by the investments purchased through both the university’s and your own contributions. STANDARD N Lump Sum Fixed Period Hardship IPRO Lifetime Income MDO (Minimum Distribution Option) RTB (Retirement Transition Benefit) Single Sum Death Benefit Small Sum Distribution SWAT (Systematic Withdrawals) TPA to Cash (Transfer Payout Annuity) CUSTOM When it's time to decide how to take income from your CUNY Optional Retirement Program (Employer Program), you have a variety of options*: Fixed Period - You can choose to receive income for a set period of two to 30 years, depending on the terms of our contract and your Program's rules (and not to exceed your life expectancy). Payments stop at the end of the period, during which you will have received all your principal and earnings. Hardship Distribution - You can withdraw your elective deferrals (but not earnings) due to financial hardship while still employed. Generally, you must show an immediate, significant need that cannot be met with other resources, including loans from your retirement Program. Interest Only - You can receive the current interest earned on your TIAA Traditional Account in monthly payments. Your principal remains intact while you receive the interest. (Note: These payments are generally available to individuals between ages 55 and 70 1/2 when minimum distributions are required.) Lifetime Retirement Income • One-life annuity - provides income for as long as you live. • Two-life annuity - provides lifetime income for you and an annuity partner (your spouse or someone else you name) for as long as either of you live. • One- or two-life annuity with guaranteed period - guarantees income for up to 20 years, as long as the period you choose does not exceed your life expectancy. It ensures that income continues to go to your beneficiaries if you (one-life annuity) or both you and your annuity partner (two-life annuity) die before the end of the guaranteed period for the remainder of the guaranteed period Lump Sum - You can withdraw all or part of your account in a single cash payment, depending on your Program rules and the terms of your contracts. (Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted under those terms). Minimum Distribution Option - Generally, you must begin taking minimum withdrawals from your account by April 1 following the year in which you turn age 70 ½ or retire, whichever is later. This can help you defer the minimum required distribution while keeping you in compliance with federal regulations. Retirement Transition Benefit - You can withdraw, in cash, up to 10% of your accumulation at the beginning of a conversion to lifetime annuity income. The amount you withdraw will reduce your lifetime annuity income accordingly. Single-Sum Death Benefit - A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income. Small-Sum Distribution - If your plan doesn't otherwise allow cash distributions, upon separation from service you can withdraw your entire retirement savings if your TIAA Traditional Account value does not exceed $2,000 and your overall account balance is below a limit set by your employer's Program (typically $4,000). If your Program does allow cash distributions, upon separation you may be able to withdraw your TIAA Traditional accumulation if the value does not exceed $2,000. Systematic Withdrawals - You can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. You can increase, decrease or suspend the payments at any time. (Note: These withdrawals are not available from TIAA Traditional Account balances.) TPA to Cash - You can withdraw your TIAA Traditional Account accumulation through a Transfer Payout Annuity (TPA) in 10 approximately equal annual payments. A lump-sum payment, subject to a surrender fee, may be available depending on your Program rules and the terms of your contract. * The availability of certain distributions may depend on the type of contract underlying your Program. Also, if you're married, your right to choose an option may be subject to your spouses right to survivor benefits. Your CUNY Optional Retirement Program (Employer Program) is designed to provide you with income throughout your retirement. Leaving money in your account may allow the funds to grow on a tax-deferred basis. The CUNY Optional Retirement Program (Employer Program) allows you to receive a cash withdrawal based on certain contractural or other rules. This may be restricted by the terms of your TIAA-CREF contracts Taxes and penalties may apply. N CUSTOM Retirement Program contributions are usually made with before-tax dollars so Federal income taxes are deferred until you begin taking withdrawals later on. Employee contributions are considered 414(h) pick-up money. CUNY employees will receive a W-2 indicating that their total employee contributions for the year are pre-tax, therefore reducing their adjusted gross income. CUNY employees will need to add the total employee contribution to their taxable income. 414(h) contributions shown on your W-2 Statement in box 14 should be included on line 13 of form IT-150 (New York State Resident Income Tax Return, short form; line 21 of Form IT-201 (New York State Resident Income Tax Return, long form); or line 21 of Form IT-203 (New York State Nonresident/Part Year Resident Income Tax Return). No taxes are due on pre-tax contributions and earnings made until the money is withdrawn, but because these Programs are intended primarily for retirement, you can generally withdraw funds only after termination of employment or age 59½ (subject to Program rules). If you withdraw funds before age 59½, they may be subject to an additional 10% early-withdrawal penalty. In limited instances when you are making contributions to your retirement plan with after-tax dollars, you will not have to pay income tax on your principal. However, when monies are withdrawn, taxes may be applicable to any earnings and interest accrued. For additional information and guidance, contact your tax advisor. Y CUSTOM Loans are available under this plan, subject to limitations. For more information, please contact your Benefits Office or <A href="contact.html">contact</A> TIAA-CREF. 0 0 5981 - 0 4184 CUNY TDA Plan City University of New York Voluntary Savings Program (Tax-Deferred Annuity) GSRA 0 0 151172 001 0 TAX-DEFERRED ANNUITY RETIREMENT PLAN ENROLLMENT BOOK 1 0 0 1 0 1 1 Paper Online 1 0 This is HARDCODED URL N Y Y To enroll in a plan online, click the plan name below: <BLOCKQUOTE> <UL> <LI> <A href="https://ais2.tiaa-cref.org/cgi-bin/WebObjects/IOESEmplWeb.woa?id=CUNYORP" target=_blank>CUNY Optional Retirement Program (Employer Program</A> - Open this account to make your mandatory 3% contribution and receive an 8% faculty or staff member contribution from your employer under the <A href="http://enroll.tiaa-cref.org/cuny/plan_det_home_4186.html" target=_blank>CUNY Optional Retirement Program</A></LI> <LI> <A href="https://ais2.tiaa-cref.org/cgi-bin/WebObjects/IOESEmplWeb.woa?id=CUNYGSRA" target=_blank>Voluntary Savings Program (Tax-Deferred Annuity)</A> - Open a <A href="http://enroll.tiaa-cref.org/cuny/plan_det_home_4184.html" target=_blank>Voluntary Savings Program</A> with the City of New York. You contribute a fixed-dollar amount per pay period (CUNY does not contribute to this program).</LI> <LI> <A href="https://ais2.tiaa-cref.org/cgi-bin/WebObjects/IOESEmplWeb?id=CUNYALL" target=_blank>CUNY Optional Retirement and Voluntary Savings Plan</A> - Open this account to make your mandatory 3% contribution under the <A href="http://enroll.tiaa-cref.org/cuny/plan_det_home_4186.html" target=_blank>CUNY Optional Retirement Program</A> and to establish a <A href="http://enroll.tiaa-cref.org/cuny/plan_det_home_4184.html" target=_blank>Voluntary Savings Program</A> for making additional, non matching contributions.</LI></UL></BLOCKQUOTE>Note: Don't forget that your online enrollment in the Voluntary Savings Plan is not complete until you print the online confirmation statement, download and complete the required <A href="http://enroll.tiaamax.com/staging/cuny/resources/sra_4184.pdf" target=_blank vlt="1">Salary Reduction Agreement</A> and bring both documents to your benefits office. Money Market Fund Y 0 19000101 0 20070227 0 0 Lifecycle funds Y CUSTOM You are eligible to participate in this Program if you are full-time or part-time Instructional Staff (Teaching and Non-Teaching, Classified Managerial, or Executive Compensation Plan employee). Employee Pre-Tax (E) STANDARD None 0 0 STANDARD Y STANDARD STANDARD N Lump Sum 59 -1/2 In Service Fixed Period Hardship Lifetime Income Other In Service Single Sum Death Benefit SWAT (Systematic Withdrawals) CUSTOM When it's time to decide how to take income from your Voluntary Savings Program (Tax-Deferred Annuity), you have a variety of options*: 59½ in Service - You generally can withdraw funds, attributable to elective deferrals, from your account while still employed once you have reached age 59½. The amount you can withdraw is subject to your Program's rules. Fixed Period - You can choose to receive income for a set period of two to 30 years, depending on the terms of our contract and your Program's rules (and not to exceed your life expectancy). Payments stop at the end of the period, during which you will have received all your principal and earnings. Hardship Distribution - If your plan permits, you can withdraw your elective deferrals (but not earnings) due to financial hardship while still employed. Generally, you must show an immediate, significant need that cannot be met with other resources, including loans from your retirement Program. You may take a hardship withdrawal using the IRS approved method called self-certification, which doesn't require you to disclose your finances, but programs using this method will not allow you to make new contributions for six months after taking the withdrawal. Once you take the money out of your Program using a hardship withdrawal, you can't put it back in and you lose the tax advantage on those funds. Lifetime Retirement Income • One-life annuity - provides income for as long as you live. • Two-life annuity - provides lifetime income for you and an annuity partner (your spouse or someone else you name) for as long as either of you live. • One- or two-life annuity with guaranteed period - guarantees income for up to 20 years, as long as the period you choose does not exceed your life expectancy. It ensures that income continues to go to your beneficiaries if you (one-life annuity) or both you and your annuity partner (two-life annuity) die before the end of the guaranteed period for the remainder of the guaranteed period Lump Sum - You can withdraw all or part of your account in a single cash payment, depending on your Program rules and the terms of your contracts. (Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted under those terms). Other in Service - If your Program permits, you can withdraw cash from your account while still employed by your institution, but you generally must meet an IRS-defined "triggering event," such as attainment of age 59½, to qualify. Single-Sum Death Benefit - A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income. Systematic Withdrawals - If your Program allows, you can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. You can increase, decrease or suspend the payments at any time. (Note: These withdrawals are not available from TIAA Traditional Account balances.) * The availability of certain distributions may depend on the type of contract underlying your Program. Also, if you're married, your right to choose an option may be subject to your spouses right to survivor benefits. Your Voluntary Savings Program (Tax-Deferred Annuity) is designed to provide you with income throughout your retirement. Leaving money in your account may allow the funds to grow on a tax-deferred basis. The Voluntary Savings Program (Tax-Deferred Annuity) allows you to receive a cash withdrawal. This may be restricted by the terms of your TIAA-CREF contracts. Taxes and penalties may apply. N STANDARD Y CUSTOM Loans are available on this plan, subject to limitations. For more information, please contact your Benefits Office. 1 1 3647 CUNY SRA 75232_lot5.pdf Salary Reduction Agreement for the Voluntary Savings Plan (Tax-Deferred Annuity) 0 Equities Variable Annuity CREF Equity Index Account 008 0 1 Proprietary Accounts - Equity N/A 41518 The investment seeks long-term return. The fund attempts to track the U.S. stock market as a whole by investing substantially all of its assets in stocks included in the Russell 3000 index. It does not hold all 3000 of the stocks included in the index. Instead, the fund may use a sampling method to try to emulate the index's overall investment characteristics. 194408308 4184 4185 4186 11490 Large Blend 04/29/1994 16.18 20.84 -6.70 1.16 0.36 7.36 0.48 90 105 25 34 44 49 90 104 105 121 122 CREF Global Equities Account 006 0 1 Proprietary Funds - International N/A 41518 The investment seeks long-term total return. The account invests at least 80% of assets in equity securities of foreign and domestic companies. It may invest at least 40% of assets in foreign securities and at least 25% in domestic securities. The remaining 35% is distributed between foreign and domestic securities. 194408100 4184 4185 4186 11490 World Stock 05/01/1992 18.42 27.15 -2.10 3.28 0.61 6.83 90 105 25 34 44 90 104 105 107 121 122 CREF Growth Account 007 0 1 Proprietary Accounts - Growth N/A 41518 The investment seeks total return. The account normally invests at least 80% of assets in common stocks and other equity securities. It invests primarily in large, well-known, established companies, particularly when we believe they have new or innovative products, services, or processes that enhance future earnings prospects. The fund may invest in smaller, less seasoned companies with growth potential as well as companies in new and emerging areas of the economy. It invest up to 20% of its assets in foreign securities. 194408209 4184 4185 4186 11490 Large Growth 04/29/1994 14.13 26.63 -2.35 1.56 -3.44 5.56 0.57 90 105 25 34 44 49 90 104 105 121 122 CREF Stock Account 002 0 1 Proprietary Account - Stock N/A 41518 The investment seeks long-term total return. The fund invests in foreign stocks and other equity securities. It also may invest in fixed-income securities and money market instruments traded on foreign exchanges, in other foreign securities markets or privately placed. The fund invests a portion of its foreign investments in emerging market securities and, to a lesser extent, foreign small-cap equities. It intents to transition weightings of its holdings to be approximately 70-75% domestic equities and 25-30% foreign equities, with approximately 5% of the Account comprised of emerging market investments. 194408803 4184 4185 4186 11490 Large Blend 08/01/1952 17.65 25.77 -3.05 2.79 1.03 9.70 0.58 90 105 25 34 44 49 90 104 105 121 122 TIAA Access Account - American Funds EuroPacific Grw Fund W146# 435 1 American Funds EuroPacific Growth Fund 0 Proprietary Access - International T1 44367 The fund normally invests at least 80% of net assets in securities of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for above-average capital appreciation. ANW991046 4184 4185 4186 Foreign Large Blend W146# 08/08/2007 19.54 34.66 8.68 8.98 0.54 40 28 34 40 43 59 104 121 301 1002 1008 TIAA Access Account - American Funds Wash Mutual Inv Fund W145# 434 1 American Funds Washington Mutual Investors Fund 0 Proprietary Access - Equity T1 44367 The investment seeks income and opportunity for growth of principal consistent with sound common stock investing. The fund invests primarily in common stocks of established companies that are listed on, or meet the financial listing requirements of, the New York Stock Exchange and have a strong record of earnings and dividends. In the selection of securities, current and potential yields as well as the potential for long-term capital appreciation are considered. ANW991045 4184 4185 4186 Large Value W145# 08/08/2007 12.92 10.79 -11.65 1.01 0.39 40 28 34 40 43 49 104 121 301 1002 1003 1008 TIAA Access Account - T. Rowe Price Inst L-C Growth Fund W148# 437 1 T. Rowe Price Institutional Large Cap Growth Fund 0 Proprietary Access - Equity T1 44367 The investment seeks to provide long-term capital appreciation. The fund normally invests at least 80% of assets in the common stocks of large companies. A large company is defined as one whose market cap is larger than the median market cap of companies in the Russell 1000 Growth index. While the fund invests most assets in U.S. common stocks, it may also purchase other securities including foreign stocks, futures, and options. The fund is nondiversified. ANW991048 4184 4185 4186 Large Growth W148# 02/01/2007 16.56 41.31 9.14 3.84 0.58 40 28 34 40 43 49 104 121 1002 1003 1008 TIAA Access Account - TIAA-CREF Equity Index Fund W122# 411 1 TIAA-CREF Equity Index Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund primarily invests in a portfolio of equity securities selected to track the overall U.S. equity markets based on a market index. Its benchmark is Russell 3000 index. ANW991022 4184 4185 4186 Large Blend W122# 02/01/2007 16.29 21.11 -6.47 -0.32 0.07 28 34 43 49 104 121 1002 1003 1008 TIAA Access Account - TIAA-CREF Growth & Income Fund W113# 402 1 TIAA-CREF Growth & Income Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term return. The fund normally invests at least 80% of net assets in income-producing equity securities. It invests primarily in income-producing equity securities or other securities defined by its benchmark index, the Standard & Poor’s 500 (S&P 500) index. The fund also may invest in rapidly growing smaller companies and may invest up to 20% of total assets in foreign investments. ANW991013 4184 4185 4186 Large Blend W113# 02/01/2007 16.10 21.84 -2.55 0.43 0.50 28 34 43 49 104 121 301 1002 1003 1008 TIAA Access Account - TIAA-CREF International Equity Fund W111# 401 1 TIAA-CREF International Equity Fund - Institutional Class 0 Proprietary Access - International T1 44367 The investment seeks favorable long-term returns. The fund normally invests at least 80% of net assets in equity securities of foreign issuers. It has a policy of maintaining investments of equity securities of foreign issuers in at least three countries other than the United States. The fund may sometimes hold a significant amount of stocks of smaller, lesser-known companies. The fund’s sector and country exposure is regularly managed against the Morgan Stanley Capital International EAFE (Europe, Australasia, Far East) Index. ANW991011 4184 4185 4186 Foreign Large Blend W111# 02/01/2007 18.81 25.73 -3.40 3.38 0.54 28 34 43 59 104 121 1002 1003 1013 1014 TIAA Access Account - TIAA-CREF Intl. Equity Index Fund W119# 408 1 TIAA-CREF International Equity Index Fund-Institutional Class 0 Proprietary Access - International T1 44367 The investment seeks a favorable long-term total return. The fund invests primarily in a portfolio of foreign equity investments based on a market index. Its benchmark is MSCI EAFE index. ANW991019 4184 4185 4186 Foreign Large Blend W119# 02/01/2007 19.19 26.88 1.54 10.58 0.12 28 34 43 59 104 121 301 1002 1003 1013 1014 TIAA Access Account - TIAA-CREF Large-Cap Value Fund W114# 403 1 TIAA-CREF Large-Cap Value Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund uses the dual investment management strategy and invests at least 80% of assets in equity securities of large domestic companies, as defined by the Russell 1000 Value index, that appear undervalued by the market based on our evaluation of their potential worth. It may invest up to 20% of total assets in foreign investments. ANW991014 4184 4185 4186 Large Value W114# 02/01/2007 19.98 28.28 -0.88 7.47 0.49 28 34 43 49 104 121 1002 1003 1008 TIAA Access Account - TIAA-CREF Lg-Cap Growth Index Fund W120# 409 1 TIAA-CREF Large-Cap Growth Index Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund primarily invests in a portfolio of equity securities of large domestic growth companies based on a market index. Its benchmark is Russell 1000 Growth index. ANW991020 4184 4185 4186 Large Growth W120# 02/01/2007 13.92 26.94 -1.98 4.89 0.10 28 34 43 49 104 121 301 1002 1003 1008 TIAA Access Account - TIAA-CREF Lg-Cap Value Index Fund W123# 412 1 TIAA-CREF Large-Cap Value Index Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund invests primarily in a portfolio of equity securities of large domestic value companies based on a market index. Its benchmark is Russell 1000 Value index. ANW991023 4184 4185 4186 Large Value W123# 02/01/2007 18.07 14.71 -10.75 5.76 0.10 28 34 43 49 104 121 301 1002 1003 1008 TIAA Access Account - TIAA-CREF Mid-Cap Growth Fund W116# 405 1 TIAA-CREF Mid-Cap Growth Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund normally invests at least 80% of net assets in mid-cap equity securities. It invests primarily in equity securities of medium-sized domestic companies, as defined by the fund’s benchmark index (the Russell Mid-cap Growth index). The fund may invest up to 20% of total assets in foreign investments. ANW991016 4184 4185 4186 Mid-Cap Growth W116# 02/01/2007 17.43 36.45 -2.71 9.07 0.56 28 34 43 49 104 121 301 1002 1003 1008 TIAA Access Account - TIAA-CREF Mid-Cap Value Fund W117# 406 1 TIAA-CREF Mid-Cap Value Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund normally invests at least 80% of assets in mid-cap equity securities. It invests primarily in equity securities of medium-sized domestic companies, as defined by the fund’s benchmark index (the Russell Mid-cap Value index). The fund may invest up to 20% of assets in foreign investments. ANW991017 4184 4185 4186 Mid-Cap Value W117# 02/01/2007 20.30 31.57 -3.96 11.18 0.52 28 34 43 49 104 121 301 1002 1003 1008 TIAA Access Account - TIAA-CREF S&P 500 Index Fund W121# 410 1 TIAA-CREF S&P 500 Index Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund invests primarily in a portfolio of equity securities of large domestic companies selected to track U.S. equity markets based on a market index. Its benchmark is S&P 500 index. ANW991021 4184 4185 4186 Large Blend W121# 02/01/2007 15.56 19.09 -7.08 4.96 0.06 28 34 43 49 104 121 1002 1003 1008 TIAA Access Account - TIAA-CREF Small-Cap Equity Fund W118# 407 1 TIAA-CREF Small-Cap Equity Fund - Institutional Class 0 Proprietary Access - Equity T1 44367 The investment seeks a favorable long-term total return. The fund normally invests at least 80% of assets in small-cap equity securities. It invests primarily in equity securities of smaller domestic companies across a wide range of sectors, growth rates and valuations, that appear to have favorable prospects for significant long-term capital appreciation. ANW991018 4184 4185 4186 Small Blend W118# 02/01/2007 19.20 21.70 -8.54 8.10 0.53 28 34 43 49 104 121 301 1002 1003 1013 1014 Real Estate Variable Annuity TIAA Real Estate Account 009 0 0 Proprietary Account - Money Market N/A 41518 The account seeks favorable long-term returns primarily through rental income and appreciation of real estate investments owned by the account. The account intends to invest between 70 percent to 85 percent of its assets directly in real estate or real estate-related investments. The account will invest the remaining portion of its assets in government and corporate debt securities, money market instruments and other cash equivalents, and, at times, stock of companies that do not primarily own or manage real estate. 878094200 4184 4185 4186 11490 10/02/1995 -7.64 -23.79 -33.83 0.02 3.86 5.12 90 105 25 34 44 90 101 105 122 Fixed Income Variable Annuity CREF Bond Market Account 005 0 1 Proprietary Funds - Fixed Income N/A 41518 The investment seeks high current income consistent with capital preservation. The account invests at least 80% of assets in a broad range of debt securities. It invests majority of the assets in U.S. Treasury and Agency securities, corporate bonds and mortgage-backed or other asset-backed securities. 194408407 4184 4185 4186 11490 Intermediate-Term Bond 03/01/1990 4.07 6.59 9.20 4.22 5.79 6.82 90 105 25 34 44 62 90 104 105 121 122 CREF Inflation-Linked Bond Account 010 0 1 Proprietary Funds - Fixed Income N/A 41518 The investment seeks a long-term rate of return that outpaces inflation. The account invests at least 80% of assets in U.S. Treasury Inflation-Indexed Securities (TIIS). It can also invest in other inflation-indexed bonds issued or guaranteed by the U.S. government or its agencies, by corporations and other U.S. domiciled issuers as well as foreign governments. The fund may invest in money market instruments or other short-term securities. 194408506 4184 4185 4186 11490 Inflation-Protected Bond 05/01/1997 2.85 7.60 4.58 4.26 7.03 6.34 0.49 90 105 25 34 44 90 92 104 105 122 TIAA Access Account - Western Asset Core Plus Bond Port W147# 436 1 Western Asset Core Plus Bond Portfolio 0 Proprietary Access - Fixed Income T1 44367 The investment seeks to maximize total return, consistent with prudent investment management and liquidity needs. The fund invests in a portfolio of fixed income securities of various maturities and, under normal market conditions, invests at least 80% of net assets in debt and fixed income securities. It may also invest up to 25% of their respective total assets in the securities of non-U.S. issuers. The duration targets between 2.5 and 7 years. ANW991047 4184 4185 4186 Intermediate-Term Bond W147# 02/01/2007 10.47 21.35 17.04 5.21 0.47 40 28 34 40 43 62 104 121 301 1002 1003 1008 Money Market Variable Annuity CREF Money Market Account 003 0 1 Proprietary Account - Money Market N/A 41518 The investment seeks high current income consistent with maintaining liquidity and preserving capital. The fund invests at least 95% of assets in money market instruments that at the time of purchase are first tier securities. It may invest up to 5% of assets in second tier securities and up to 30% of assets in money market and debt instruments of foreign issuers denominated in U.S. dollars. The dollar-weighted average maturity of the fund will be less than 90 days. 194408704 4184 4185 4186 11490 Money Market - Taxable 04/01/1988 0.00 0.11 0.73 3.08 3.00 4.46 0.46 78 90 105 25 30 34 44 78 90 104 105 108 121 122 Guaranteed Guaranteed Annuity TIAA Traditional Account 001 0 0 Proprietary Account - Money Market N/A 41518 The TIAA Traditional Annuity guarantees principal and a specified interest rate (based on TIAA's claims paying ability). It also offers the potential for greater growth through additional amounts, which may be declared on a year-by-year basis by the TIAA Board of Trustees. These additional amounts, when declared, remain in effect for the “declaration year” which begins each March 1. \n\nIf you have an Retirement Annuity (RA) contract, the TIAA annuity contract does not allow lump-sum cash withdrawals from the TIAA Traditional Annuity and transfers out must be spread over ten annual installments. If you have a Group Retirement Annuity (GRA) contract, lump-sum withdrawals are available from the TIAA Traditional Annuity, subject to the terms of your employer plan, only within 120 days after termination of employment and are subject to a 2.5% surrender charge. All other withdrawals and all transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan must be spread over ten annual installments (or over five years for withdrawals after termination of employment). \n\nIf you have an Retirement Annuity (RA) contract, the TIAA annuity contract does not allow lump-sum cash withdrawals from the TIAA Traditional Annuity and transfers out must be spread over ten annual installments. If you have a Group Retirement Annuity (GRA) contract, lump-sum withdrawals are available from the TIAA Traditional Annuity, subject to the terms of your employer plan, only within 120 days after termination of employment and are subject to a 2.5% surrender charge. All other withdrawals and all transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan must be spread over ten annual installments (or over five years for withdrawals after termination of employment). \n\nIf you have a Retirement Choice Annuity (RC) contract, subject to the terms of your employer’s plan, within 120 days after termination of employment, withdrawals from the TIAA Traditional Annuity may be made available in a lump sum. Such withdrawals are subject to a 2.5% surrender charge. At all other times, withdrawals and transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan from the TIAA Traditional Annuity must be spread over an 84-month period (7 years) in monthly systematic payments. 878094101 4184 4185 4186 11490 4.91 4.55 6.16 3.65 90 105 26 32 90 101 105 122 Multi-Asset Variable Annuity CREF Social Choice Account 004 0 1 Proprietary Account - Social N/A 41518 The investment seeks total return consistent with certain social criteria. The fund invests in a diversified portfolio of equity, debt, and money-market securities. It normally invests 60% of assets in equities and 40% in debt securities. The fund invests in companies included in the KLD Broad Market Social index which is a subset of companies in the Russell 3000 index screened to eliminate companies that do not meet certain social criteria. 194408605 4184 4185 4186 11490 Moderate Allocation 03/01/1990 12.19 18.04 2.26 3.12 2.95 8.29 0.53 90 105 25 34 44 49 90 104 105 121 122 TIAA Access Account - TIAA-CREF Lifecycle 2010 Fund W138# 427 1 TIAA-CREF Lifecycle Fund 2010 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests primarily in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2010. It expects to allocate approximately 51.60% of assets to equity underlying funds and 48.40% of assets to fixed-income underlying funds. ANW991038 4184 4185 4186 Target Date 2000-2010 W138# 02/01/2007 10.68 16.15 3.41 3.10 0.58 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 6 TIAA Access Account - TIAA-CREF Lifecycle 2015 Fund W139# 428 1 TIAA-CREF Lifecycle Fund 2015 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2015. It expects to approximately 59.60% of assets to equity underlying funds and 40.40% of assets to fixed-income underlying funds. ANW991039 4184 4185 4186 Target Date 2011-2015 W139# 02/01/2007 11.83 17.73 2.44 2.86 0.59 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 5 TIAA Access Account - TIAA-CREF Lifecycle 2020 Fund W140# 429 1 TIAA-CREF Lifecycle Fund 2020 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2020. It expects to allocate approximately 67.60% of assets to equity underlying funds and 32.40% of assets to fixed-income underlying funds. ANW991040 4184 4185 4186 Target Date 2016-2020 W140# 02/01/2007 12.94 19.21 1.43 2.42 0.63 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 4 TIAA Access Account - TIAA-CREF Lifecycle 2025 Fund W141# 430 1 TIAA-CREF Lifecycle Fund 2025 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2025. It expects to allocate approximately 75.60% of assets to equity underlying funds and 24.40% of assets to fixed-income underlying funds. ANW991041 4184 4185 4186 Target Date 2021-2025 W141# 02/01/2007 14.04 20.66 0.15 2.00 0.64 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 3 TIAA Access Account - TIAA-CREF Lifecycle 2030 Fund W142# 431 1 TIAA-CREF Lifecycle Fund 2030 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2030. It expects to allocate approximately 83.60% of assets to equity underlying funds and 16.40% of assets to fixed-income underlying funds. ANW991042 4184 4185 4186 Target Date 2026-2030 W142# 02/01/2007 14.99 21.82 -1.36 1.49 0.65 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 2 TIAA Access Account - TIAA-CREF Lifecycle 2035 Fund W143# 432 1 TIAA-CREF Lifecycle Fund 2035 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2035. It expects to allocate approximately 90.0% of assets to equity underlying funds and 10.0% of assets to fixed-income underlying funds. ANW991043 4184 4185 4186 Target Date 2031-2035 W143# 02/01/2007 15.95 23.01 -1.88 1.50 0.68 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 1 TIAA Access Account - TIAA-CREF Lifecycle 2040 Fund W144# 433 1 TIAA-CREF Lifecycle Fund 2040 - Institutional Class 0 Proprietary Access - Multi-asset T1 44367 The investment seeks high total return through capital appreciation and income. The fund invests in underlying funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2040. It expects to allocate approximately 90.0% of assets to equity underlying funds and 10.0% of assets to fixed-income underlying funds. ANW991044 4184 4185 4186 Target Date 2036-2040 W144# 02/01/2007 15.81 22.98 -1.88 1.88 0.65 28 34 43 104 121 132 301 1002 1003 1007 1008 1012 1 Call risk is the risk that during periods of declining interest rates, an issuer of a bond may "call" (i.e., redeem) a high-yielding obligation before its maturity date. This often creates an unanticipated capital gain liability and requires the fund or account to reinvest the proceeds at the lower prevailing interest rate. Company risk is the risk that the earnings prospects and overall financial position of the issuer of a security will deteriorate, causing a decline in the security's value over short or extended periods of time. Credit risk (a type of company risk) is the risk that a decline in a company's overall financial soundness may make it unable to pay principal and interest on bonds when due. The fund will suffer a loss in connection with its use of derivatives such as options, futures contracts, and options on futures contracts if securities prices do not move in the direction anticipated by the fund's advisor when entering into the derivative instruments. Dividend risk is the risk associated with investments in stocks paying relatively high dividends. These stocks may significantly underperform other stocks during periods of rapid market appreciation. Extension risk is the risk of decline in value for certain fixed-income securities because principal payments are not made as early as possible. Foreign investment risks are the risks of investing in securities of foreign issuers, in securities or contracts traded on foreign exchanges or in foreign markets, or in securities or contracts payable in foreign currency. Foreign investing involves special risks, including erratic market conditions, economic and political instability, and fluctuations in currency exchange rates. These investment risks may be magnified in emerging markets. Growth investing risks include the risk that, due to their relatively high valuations, growth stocks will be more volatile than value stocks. In addition, because the value of growth companies is generally a function of their expected earnings growth, there is a risk that such earnings growth may not occur or cannot be sustained. Illiquid security risk is the risk that investments in illiquid securities may be difficult to sell for their fair market value. Income volatility risk is the risk that the level of current income from a portfolio of fixed-income securities may decline in certain interest rate environments. Index risk is the risk that the performance of a fund or account will not match the performance of its index for any period of time. Although a fund or account attempts to closely track the investment performance of the index, the fund or account may not duplicate the composition of this index. In addition, its performance, unlike that of its index, is affected by investment and other operating expenses. Interest rate risk (a type of market risk) is the risk that bond prices or the income of a fund or account may decline if interest rates change. Large-cap risk is the risk that, by focusing on investments in securities of larger companies, a fund or account may have fewer opportunities to identify securities that the market misprices. In addition, larger companies may grow more slowly than the economy as a whole or not at all. Manager risk is the chance that poor security selection will cause the Fund to underperform relevant benchmarks or other funds with a similar investment objective. Market risk is the risk that the price of securities may decline in response to general market and economic conditions or events. Mid-cap risk is the risk that the securities of medium-sized companies will be more volatile than those of larger companies. In addition, the securities of medium-sized companies may be harder to buy or sell than those of larger, more established, companies. The fund invests in asset- and mortgage-backed securities and is subject to prepayment risk; falling interest rates can cause security prices and income to decline because of the early payment of principal. The fund is also subject to extension risk; rising rates can cause securities prices to decline because expected payments of principal do not occur. Prepayment and extension risk is the risk of a decline for certain fixed-income securities that allow for the early prepayment of principal, and the risk that a fund or account's income will decline as a result of the prepayment. Real estate investing risks are the risks associated with real estate ownership, including fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability. Real estate securities risk is the risk that a fund that concentrates its investments in real estate securities and holds securities of relatively few issuers may experience greater fluctuations in value and be subject to a greater risk of loss than other mutual funds. Reorganization risk is the risk that stocks of companies involved in reorganizations and other special situations can involve more risk than ordinary securities. Accordingly, the performance of a fund or account that invests in such companies is often more volatile than the performance of the overall stock market, and the fund or account could significantly outperform or underperform the stock market during any particular period. Risk of socially screened investing is the possibility that funds or accounts whose social screens exclude some investments may not be able to take advantage of the same opportunities or market trends as funds or accounts that do not use such criteria. Risks of inflation-indexed bonds include the risk that market values of inflation-indexed bonds can be affected by changes in investors' inflation expectations or changes in "real" rates of interest (i.e., a security's return above the inflation rate). Also, the inflation index that a bond is intended to track may not accurately reflect the true rate of inflation. If the market perceives that an index does not accurately reflect inflation, the market value of inflation-indexed bonds could be adversely affected. In addition, an investment in a fund or account that invests in inflation-indexed bonds is subject to certain special tax considerations. Small-cap risk is the risk that the securities of smaller companies may experience steeper fluctuations in price than those of larger companies. These securities may also have to be sold at a discount from their current market prices or in small lots over an extended period. Small-cap/mid-cap risk is the risk that smaller company securities may experience steeper fluctuations in price than the securities of larger companies. They may also have to be sold at a discount from their current market prices or in small lots over an extended period, since they may be harder to sell than larger-cap securities. Style risk is the risk that a fund or account's growth investing or value investing style may be out of favor in the marketplace for various periods of time. Value investing risks are the risks that (1) the issuer's potential business prospects may not be realized; (2) the securities' potential values may never be recognized by the market; and (3) due to unanticipated problems associated with the issuer or industry, the securities were appropriately priced (or overpriced) when acquired. Data Provided by Morningstar, Inc. © 2009 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The comparative indices used for all mutual funds and accounts have been provided by Morningstar, Inc. and may not match those that appear in other websites or publications. The returns quoted represent past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown above, and you may have a gain or a loss when you redeem your mutual fund shares/annuity account accumulation units. For current performance information, including performance to the most recent month-end, call 800 TIAA-CREF (800 842-2273). TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 to obtain both the contract and underlying funds’ prospectuses, which contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa-cref.org for details. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161, or go to tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing. TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa-cref.org for details. The 7-day money market yield listed more closely reflects the current earnings of the money market mutual fund(s) than does the total return. An investment in the CREF Money Market Account is not a deposit of any bank and is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other U.S. government agency. The 7-day money market yield listed more closely reflects the current earnings of the money market annuity account than does the total return. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating®based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. [Insert name of fund] was rated against the following numbers of U.S.-domiciled [insert name of category] funds over the following time periods: [insert number of funds in category during prior 3-year period] funds in the last three years, [insert number of funds in category during the prior 5-year period] funds in the last five years, and [insert number of funds in category during the prior 10-year period] funds in the last ten years. With respect to these [insert name of category] funds, [insert name of fund] received a Morningstar Rating of [insert number of stars for 3-year rating] stars, [insert number of stars for 5-year rating] stars and [insert number of stars for 10-year rating] stars for the three-, five- and ten-year periods, respectively. The TIAA Access Money Market Account (the “Account”) uses the TIAA-CREF Institutional Money Market Fund (the “Fund”) as its underlying mutual fund investment option. The TIAA-CREF Institutional Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the Account which, in turn, invests in the Fund. All CREF accounts estimate expenses each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Historically, adjustments have been small. The TIAA Traditional Annuity guarantees principal and a specified interest rate (based on TIAA's claims paying ability). It also offers the potential for greater growth through additional amounts, which may be declared on a year-by-year basis by the TIAA Board of Trustees. These additional amounts, when declared, remain in effect for the “declaration year” which begins each March 1.\n\nIf you have an Retirement Annuity (RA) contract, the TIAA annuity contract does not allow lump-sum cash withdrawals from the TIAA Traditional Annuity and transfers out must be spread over ten annual installments. If you have a Group Retirement Annuity (GRA) contract, lump-sum withdrawals are available from the TIAA Traditional Annuity, subject to the terms of your employer plan, only within 120 days after termination of employment and are subject to a 2.5% surrender charge. All other withdrawals and all transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan must be spread over ten annual installments (or over five years for withdrawals after termination of employment).\n\nIf you have an Retirement Annuity (RA) contract, the TIAA annuity contract does not allow lump-sum cash withdrawals from the TIAA Traditional Annuity and transfers out must be spread over ten annual installments. If you have a Group Retirement Annuity (GRA) contract, lump-sum withdrawals are available from the TIAA Traditional Annuity, subject to the terms of your employer plan, only within 120 days after termination of employment and are subject to a 2.5% surrender charge. All other withdrawals and all transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan must be spread over ten annual installments (or over five years for withdrawals after termination of employment).\n\nIf you have a Retirement Choice Annuity (RC) contract, subject to the terms of your employer’s plan, within 120 days after termination of employment, withdrawals from the TIAA Traditional Annuity may be made available in a lump sum. Such withdrawals are subject to a 2.5% surrender charge. At all other times, withdrawals and transfers from TIAA Traditional to any variable annuity accounts or mutual funds offered through TIAA-CREF within the plan or to approved alternate carriers within the plan from the TIAA Traditional Annuity must be spread over an 84-month period (7 years) in monthly systematic payments. For TIAA Access annuities, the total expense ratio represents the sum of the annuity charges and the net expenses of the underlying investment option. Interest credited to TIAA Traditional Annuities includes a guaranteed rate of between 1% and 3%, plus any additional amounts that are established on a year-by-year basis. The additional amounts, when declared, remain in effect through the "declaration year," which begins each March 1. Accumulations in mutual funds not managed by TIAA-CREF may be subject to administrative charges. These charges are subject to change. Please review current documents related to your plan. The S&P 500 Index is a market-capitalization-weighted index of the 500 leading companies in major industries of the U.S. economy. You cannot invest directly in this index. S&P 500 is a registered trademark and service mark of the McGraw-Hill Companies. The Morgan Stanley Capital International EAFE® (Europe, Australasia, Far East) Index measures the performance of the leading stocks in 21 developed countries outside of North America. You cannot invest directly in this index. EAFE is a trademark of Morgan Stanley Capital International, Inc. The Lehman Brothers U.S. Aggregate Index measures the performance of the U.S. investment-grade, fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in this index. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. The Lehman Brothers U.S. TIPS (Treasury Inflation-Protected Securities) Index measures the performance of fixed-income securities with fixed-rate coupon payments that adjust for inflation as measured by the Consumer Price Index for All Urban Consumers. You cannot invest directly in this index. All displayed performance and statistical data have been compiled by TIAA-CREF. Annuities are designed for retirement savings or for other long-term goals. They offer several payment options, including lifetime income. Payments from TIAA and CREF variable annuities are not guaranteed, and the payment amounts will rise or fall depending on investment returns. Mutual funds do not offer the range of income options available through annuities. Listed for foreign stock funds (EAFE refers to Europe, Australasia, and Far East). Widely accepted as a benchmark for international stock performance, the EAFE Index is an aggregate of 21 individual country indexes that collectively represent many of the major markets of the world. Ndtr_D (Net Dividends Total Returns in Dollars) indexes are calculated daily and take into account actual dividends reinvested daily before withholding taxes, but exclude special tax credits declared by companies. In addition, Ndtr_D indexes subtract withholding taxes retained at the source, for foreigners who do not benefit from a double taxation treaty. The returns we publish for the index are total returns, which include reinvestment of dividends. For more information, visit the MSCI website or call MSCI at 212 762 5790. MSCI also has a site containing performance data for its indexes. Three-month T-bills are government-backed short-term investments considered to be risk-free and as good as cash because the maturity is only three months. Morningstar collects yields on the T-bill on a weekly basis from The Wall Street Journal. As Target Retirement Date Funds are actively managed, their asset allocations are subject to change and may vary from those indicated. They invest in many underlying funds and are exposed to the risks of different areas of the market. The higher a fund’s allocation to stocks, the greater the risk. After the target date has been reached, some of these funds may be merged into a fund with a more stable asset allocation. In addition to the fund level expenses these funds are also subject to the expenses of their underlying investments. Please consult the prospectus for more complete information. The net annual expense reflects a contractual reimbursement of various expenses by the fund’s advisor. This reimbursement may be discontinued at any time. Please note that performance represents returns that accrued during the accumulation phase of this investment account. If you choose to annuitize, different charges and performance calculations will apply so the performance results will differ. Annuities are designed for retirement savings or for other long-term goals. They offer several payment options, including lifetime income (available on or before December 2009 from TIAA Access Lifecycle Retirement Income Account). Payments from TIAA and CREF variable annuities are not guaranteed, and the payment amounts will rise or fall depending on investment returns. The chart illustrates the performance of a hypothetical $10,000 investment made in the account on the month-end after the commencement of operations. The account total returns are not adjusted to reflect sales charges or the effects of taxation, but are adjusted to reflect actual ongoing fund expenses, and assume reinvestment of dividends and capital gains, net of all recurring costs such as mortality and expense risk changes and annual administrative fees. Comparative Index performance does not reflect such costs and would be lower than shown if it did. This chart is not intended to imply any future performance of the account. The Dow Jones Moderate Portfolio is a benchmark designed for asset allocation strategists who are willing to take 60% of the risk of the global securities market. It is a total returns index that is a time-varying weighted average of stocks, bonds, and cash. You cannot invest directly in this index. Pre-dated performance (Hypothetical) reflects the performance of the underlying funds earned at times prior to their offering in the TIAA Access variable annuity. Such performance is hypothetical since the fund was not available in the variable annuity prior to its inception date. Account performance above is net of all annuity contract recurring costs such as mortality and expense risk charges and annual administrative fees. Comparative Index performance deos not reflect such costs and would be lower than shown if it did. There are no nonrecurring charges such as sales loads and contingent deferred sales loads. Pre-dated performance (Hypothetical) reflects the performance of the underlying funds earned at times prior to their offering in the TIAA Access variable annuity. Such performance is hypothetical since the fund was not available in the variable annuity prior to its inception date. Account performance above is net of all annuity contract recurring costs such as mortality and expense risk charges and annual administrative fees. Comparative Index performance does not reflect such costs and would be lower than shown if it did. Shares held less than 60 calendar days may be subject to a 2% redemption fee. Please see the prospectus for details. The fund performance shown does not reflect the deduction of this fee. Had the fee been deducted, returns would have been lower. Performance shown prior to the inception of the TIAA Access annuity is based on the performance of the fund's Retirement Class. Performance has not been restated to reflect the higher expenses of the Retirement Class. If the expense differential had been reflected, performance for these periods would have been lower. An investment in this fund is not a deposit of any bank and is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other U.S. government agency. We will attempt to maintain a stable net asset value of $1.00 per share for this fund, but it is possible to lose money by investing in the fund. 26075 F. Brenda Griebart Richard Filingeri TIAA-CREF (866) 842-2442 Monday - Friday, 8 a.m. - 5 p.m. (ET) 750 Third Avenue (b/w 46th and 47th Streets) New York NY 10017 New York Office Office 1 1 F. Brenda Griebart Richard Filingeri 8958 Enrollment Forms Return Address Your Campus HR/Benefits Office OFFICE 1 1 Group Retirement Annuity (GRA) Contract Form Series G-1000.4 and G-1000.5 Group Supplemental Retirement Annuity (GSRA) Contract Form Series 1250.01 (not available in all states)