MS 0065800658 Microsite Pages** 14 ECORR 658 The University of Utah 658 The University of Utah 2009-11-05T10:05:08.035 09/30/2009 658 The University of Utah UT 0203, FR94, Y Y (801) 883-5100 N ( ) - N ( ) - Premier Non-Sole Recordkeeper 1 http://www.tiaa-cref.org/uofu UT Y 1134 uofu http://www.tiaa-cref.org/uofu http://enroll.tiaamax.com/staging/uofu http://www.utah.edu N 2 568 uofu_img.gif Y Y 948 4134 949 948 Univ of Utah 401(a) University of Utah 401(a) Plan The University of Utah 401(a) Plan GRA 0 0 100330 001 0 1 1 0 1 0 1 1 Online Paper 0 The University of Utah 401(a) Plan: 100330 0 This is HARDCODED URL N <P><STRONG>NOTE: </STRONG>You must complete the following forms in order to enroll: </P> <UL> <LI>A <STRONG>Salary Reduction Agreement</STRONG> allows automated, pre-tax contributions from your paycheck directly to your specified plans. Click the link(s) below to download and complete the SRA for your chosen plan: </LI> <UL> <LI><A href="http://enroll.tiaamax.com/staging/uofu/Resources/sra_4134.pdf">403(b) Salary Reduction Agreement Pre-tax and Roth</A></LI> <LI><A href="http://enroll.tiaamax.com/staging/uofu/Resources/sra_949.pdf">457(b) Salary Reduction Agreement</A> </LI></UL></UL> <P>For more information on enrollment, <A href="http://enroll.tiaa-cref.org/uofu/contact.html">contact </A>your institution.</P> 100330 Y N Lifecycle Fund Y 0 20090625 0 20070227 1 1 Partner Wyoming QVEC (8) Qualified to 457(b) Public Rollover (R) Qualified Non-elective Contribution ( C ) Employer Match (D) Premier New Mexico Employee Pre-Tax Matched (A) Employee Pre-Tax (E) Employee After-Tax Mandatory (Q) 457(b) Employer (1) 457(b) Public 457(b) Private Retirement Choice (ICAP) TIAA-CREF Retirement Loan Hospitals 90-24 Transfer Single Sum Death Benefit SWAT (Systematic Withdrawals) Small Sum Distribution MDO (Minimum Distribution Option) RTB (Retirement Transition Benefit) Limited Periodic Option Lump Sum IPRO TPA to Cash (Transfer Payout Annuity) Fixed Period Lifetime Income Hardship Money Market Fund Employee Pre Tax Mandatory (I) Employee After-Tax (K) After-Tax Rollover 59 -1/2 In Service Fixed Percent Y STANDARD Employer (F) Rollover (9) STANDARD None 0 0 STANDARD Y STANDARD STANDARD N Lump Sum Fixed Period IPRO Lifetime Income MDO (Minimum Distribution Option) Single Sum Death Benefit Small Sum Distribution SWAT (Systematic Withdrawals) TPA to Cash (Transfer Payout Annuity) STANDARD N STANDARD N STANDARD 0 0 679 - 0 4134 The University of Utah 403(b) DC Plan The University of Utah 403(b) Plan GSRA 0 1 100331 999 0 1 1 1 1 0 1 1 Online Paper 0 The University of Utah 403(b) Plan: 100331 0 This is HARDCODED URL N <P>&nbsp;</P> 100331 Y N Lifecycle Fund N 0 20070227 0 20070227 1 1 Y STANDARD Employee After-Tax (K) Employee Pre-Tax (E) Employer (F) Rollover (9) STANDARD None 0 0 STANDARD Y STANDARD STANDARD N Lump Sum 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) STANDARD N STANDARD N STANDARD 1 1 5251 UofU SRA403b (2).pdf 403(b) Salary Reduction Agreement Pre-tax and Roth 0 949 Univ of Utah 457(b) University of Utah 457(b) The University of Utah 457(b) Plan 457(b) Public 0 0 100332 003 0 1 1 0 1 0 1 1 Online Paper 1 The University of Utah 457(b) Plan: 100332 0 This is HARDCODED URL N 100332 Y N Lifecycle Fund N 0 20090624 0 20070227 1 1 Y STANDARD Employee Pre-Tax (E) STANDARD None 0 0 STANDARD Y STANDARD STANDARD N Lump Sum Fixed Period Lifetime Income MDO (Minimum Distribution Option) Single Sum Death Benefit SWAT (Systematic Withdrawals) STANDARD N STANDARD Y STANDARD 1 1 5252 UofUSRA457b.pdf 457(b) Salary Reduction Agreement 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 948 949 4134 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 948 949 4134 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 948 949 4134 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 948 949 4134 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 Mutual Fund American Funds EuroPacific Growth Fund RERFX 035 0 1 Partner Funds - International R5 41518 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. 298706839 948 949 4134 Foreign Large Blend RERFX 05/15/2002 19.61 34.88 8.92 10.08 9.24 0.54 40 34 40 44 104 107 121 122 American Funds Growth Fund of America RGAFX 310 0 1 Non-Proprietary Funds - Equity R5 41518 The investment seeks capital growth by investing in common stocks. The fund primarily invests in high potential growth companies. It may also invest up to 15% of assets in securities of issuers domiciled outside the United States and Canada and not included in Standard & Poor's 500 Composite index. It may invest up to 10% of assets in lower quality nonconvertible debt securities. 399874833 948 949 4134 Large Growth RGAFX 05/15/2002 13.42 27.35 -1.99 3.89 4.31 0.37 40 34 40 44 49 104 121 122 Goldman Sachs Large Cap Value Fund GSLIX 280 0 1 Non-Proprietary Funds - Equity Institutional 41518 The investment seeks long-term capital appreciation. The fund normally invests at least 80% of total net assets in equity securities. It may invest up to 25% of assets in foreign securities and up to 20% in fixed-income securities. The advisor attempts to invest primarily in the equities of companies whose intrinsic value is not reflected in the stock price. 38142Y773 948 949 4134 Large Value GSLIX 12/15/1999 15.44 19.58 -6.32 1.73 3.24 0.77 40 34 40 44 49 104 121 122 TIAA-CREF Equity Index Fund TIQRX 373 0 1 Proprietary Funds - Equity Retirement 41518 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. 886315753 948 949 4134 Large Blend TIQRX 03/31/2006 16.14 20.84 -6.60 -3.87 0.33 34 44 49 57 121 122 TIAA-CREF Growth and Income Fund TRGIX 011 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W763 948 949 4134 Large Blend TRGIX 10/01/2002 15.91 21.75 -2.66 4.86 7.40 0.75 34 44 49 104 121 122 TIAA-CREF International Equity Fund TRERX 013 0 1 Proprietary Funds - International Retirement 41518 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. 87244W748 948 949 4134 Foreign Large Blend TRERX 10/01/2002 18.94 25.61 -3.42 4.59 9.61 0.79 27 34 44 104 107 121 122 131 TIAA-CREF International Equity Index Fund TRIEX 027 0 1 Proprietary Funds - International Retirement 41518 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. 87244W490 948 949 4134 Foreign Large Blend TRIEX 10/01/2002 19.25 26.85 1.57 5.82 10.49 0.36 34 44 104 107 121 122 131 TIAA-CREF Large-Cap Growth Index Fund TRIRX 019 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W672 948 949 4134 Large Growth TRIRX 10/01/2002 13.89 26.95 -2.06 1.48 4.80 0.35 34 44 49 104 121 122 TIAA-CREF Large-Cap Value Fund TRLCX 014 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W722 948 949 4134 Large Value TRLCX 10/01/2002 19.87 28.32 -0.88 2.10 7.46 0.74 34 44 49 104 121 122 TIAA-CREF Large-Cap Value Index Fund TRCVX 020 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W656 948 949 4134 Large Value TRCVX 10/01/2002 18.15 14.70 -10.77 0.59 5.69 0.35 34 44 49 104 121 122 TIAA-CREF Mid-Cap Growth Fund TRGMX 015 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W888 948 949 4134 Mid-Cap Growth TRGMX 10/01/2002 17.44 36.44 -2.69 3.15 9.00 0.81 34 44 49 104 121 122 TIAA-CREF Mid-Cap Value Fund TRVRX 016 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W854 948 949 4134 Mid-Cap Value TRVRX 10/01/2002 20.30 31.52 -3.98 5.20 11.10 0.77 34 44 49 104 121 122 TIAA-CREF Real Estate Securities Fund TRRSX 017 0 1 Proprietary Funds - Equity Retirement 41518 The investment seeks a favorable long-term total return. The fund invests at least 80% of assets in the equity and fixed-income securities of companies that are principally engaged in or related to the real estate industry such as REITs. It also may invest up to 20% of total assets in equity and debt securities of issuers that are not engaged in or related to the real estate industry and up to 15% of total assets in real estate securities of foreign issuers. 87244W789 948 949 4134 Real Estate TRRSX 10/01/2002 31.70 13.79 -28.95 -0.66 6.90 0.81 34 44 49 104 121 122 TIAA-CREF S&P 500 Index Fund TRSPX 018 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W698 948 949 4134 Large Blend TRSPX 10/01/2002 15.50 19.05 -7.11 0.70 4.89 0.31 34 44 49 104 121 122 TIAA-CREF Small-Cap Blend Index Fund TRBIX 024 0 1 Proprietary Funds - Equity Retirement 41518 The investment seeks a favorable long-term total return. The fund invests primarily in a portfolio of equity securities in smaller domestic companies based on a market index. Its benchmark is Russell 2000 index. 87244W565 948 949 4134 Small Blend TRBIX 10/01/2002 19.13 21.84 -10.06 2.13 8.39 0.42 34 44 49 104 121 122 131 TIAA-CREF Small-Cap Equity Fund TRSEX 028 0 1 Proprietary Funds - Equity Retirement 41518 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. 87244W821 948 949 4134 Small Blend TRSEX 10/01/2002 19.17 21.70 -8.57 1.17 8.04 0.78 34 44 49 104 121 122 131 TIAA-CREF Social Choice Equity Fund TRSCX 012 0 1 Proprietary Funds - Equity Retirement 41518 The investment seeks a favorable long-term total return. The fund normally invests at least 80% of net assets in equity securities. It attempts to track the return of the U.S. stock market as represented by the Russell 3000 index, while investing only in companies whose activities are consistent with the funds’ social criteria. The fund may invest in U.S. Government securities and in securities issued by foreign governments or their agencies or instrumentalities as approved by the Corporate Governance and Social Responsibility Committee. It may invest up to 15% of total assets in foreign investments. 87244W755 948 949 4134 Large Blend TRSCX 10/01/2002 16.56 23.09 -6.17 1.70 6.00 0.46 34 44 49 104 121 122 Vanguard 500 Index Fund VFINX 339 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks. The fund employs a passive management investment approach designed to track the performance of the Standard & Poor's 500 index, a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. It invests all, or substantially all, of assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. 922908108 948 949 4134 Large Blend VFINX 08/31/1976 15.59 19.30 -6.87 0.94 -0.23 10.38 0.18 40 34 40 44 49 104 121 122 Vanguard Diversified Equity Fund VDEQX 1158 0 1 Partner Funds - Equity Investor 99999 The investment seeks long-term capital appreciation and dividend income. The fund invests in a diversified group of other Vanguard stock mutual funds, rather than in individual securities. Its holdings comprise large-, mid-, and small-capitalization stocks of domestic companies. 921939401 948 949 4134 Large Blend VDEQX 06/10/2005 16.74 25.97 -2.72 -0.79 0.37 40 34 40 44 49 104 121 122 123 Vanguard Emerging Markets Stock Index Fund VEIEX 337 0 1 Non-Proprietary Funds - International Investor 41518 The investment seeks to track the performance of the MSCI Emerging Markets index. The fund employs a passively managed investment approach by investing all or substantially all of assets in a representative sample of the common stocks included in the MSCI Emerging Markets index. This index includes approximately 781 common stocks of companies located in emerging markets around the world. 922042304 948 949 4134 Diversified Emerging Mkts VEIEX 05/04/1994 21.15 62.62 17.38 16.67 11.71 8.10 0.39 40 34 40 44 104 107 121 122 Vanguard Energy Fund VGENX 317 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks long-term growth of capital. The fund invests at least 80% of assets in the common stocks of companies principally engaged in energy-related activities, such as production and transmission of energy or energy fuels; the making of component products for such activities; energy research; and energy conservation or pollution control. It may invest up to 100% of assets in foreign stocks. 921908109 948 949 4134 Equity Energy VGENX 05/23/1984 14.01 30.80 -5.80 13.71 15.43 13.18 0.32 40 34 40 44 49 104 121 122 Vanguard International Value Fund VTRIX 1154 0 1 Partner Funds - International Investor 99999 The investment seeks to provide long-term capital appreciation. The fund invests mainly in common stocks of companies located outside the United States that are considered by an advisor to be undervalued. It invests in large-, mid-, and small-capitalization companies and is expected to diversify its assets across developed and emerging markets in Europe, the Far East, and Latin America. The fund uses multiple investment advisors. 921939203 948 949 4134 Foreign Large Value VTRIX 05/16/1983 20.75 31.41 4.45 7.97 5.02 10.11 0.47 40 34 40 44 59 104 121 122 123 1014 Vanguard Mid-Cap Index Fund VIMSX 345 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks. The fund employs a passive management investment approach designed to track the performance of the MSCI US Mid Cap 450 index, a broadly diversified index of the stocks of medium-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. 922908843 948 949 4134 Mid-Cap Blend VIMSX 05/21/1998 21.53 31.64 -2.11 3.83 7.17 6.89 0.27 40 34 40 44 49 104 121 122 Vanguard Morgan Growth Fund VMRGX 324 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks long-term growth of capital. The fund invests mainly in the stocks of mid- and large-capitalization U.S. companies whose revenues and/or earnings are expected to grow faster than those of the average company in the market. It uses multiple investment advisors. 921928107 948 949 4134 Large Growth VMRGX 12/31/1968 14.74 26.73 -4.27 2.16 0.51 9.67 0.46 40 34 40 44 49 104 121 122 Vanguard PRIMECAP Core Fund VPCCX 1160 0 1 Partner Funds - Equity Investor 99999 The investment seeks to provide long-term capital appreciation. The fund currently invests in stocks of companies whose future earnings potential is not considered to be reflected in their current market prices. Its portfolio can consist of stocks across the capitalization spectrum. Up to 20% of total assets may be invested in foreign securities. The fund may also invest, to a limited extent, in derivatives. 921921508 948 949 4134 Large Growth VPCCX 12/09/2004 16.41 28.17 1.45 4.15 0.55 40 34 40 44 49 104 121 122 123 Vanguard Small-Cap Index Fund NAESX 341 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks to track the performance of a benchmark index that measures the investment return of small capitalization stocks. The fund employs a passive management investment approach designed to track the performance of the MSCI US Small Cap 1750 index, a broadly diversified index of the stocks of smaller U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. 922908702 948 949 4134 Small Blend NAESX 10/03/1960 21.84 30.79 -4.08 3.66 5.72 10.19 0.28 40 34 40 44 49 104 121 122 Vanguard Total International Stock Index Fund VGTSX 1153 0 1 Partner Funds - International Investor 99999 The investment seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in Europe, the Pacific region, and emerging markets countries. The Fund employs a "passive management" investment approach designed to track the performance of the Total International Composite Index, which includes the MSCI Europe Index, the MSCI Pacific Index, and the MSCI Emerging Market Index. It invests substantially all assets in the common stocks included in its target index, while employing a form of sampling to reduce risk. 921909602 948 949 4134 Foreign Large Blend VGTSX 04/29/1996 19.67 32.53 4.65 7.69 3.68 4.57 0.34 40 34 40 44 59 104 121 122 123 1014 Vanguard Total Stock Market Index Fund VTSMX 340 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. The fund employs a passive management strategy designed to track the performance of the MSCI US Broad Market index, which consists of all the U.S. common stocks traded regularly on the New York Stock Exchange and the Nasdaq over-the-counter market. It typically holds 1,200-1,300 of the stocks in its target index. 922908306 948 949 4134 Large Blend VTSMX 04/27/1992 16.46 21.58 -6.06 1.75 0.84 7.77 0.18 40 34 40 44 49 104 121 122 Vanguard Windsor II Fund VWNFX 331 0 1 Non-Proprietary Funds - Equity Investor 41518 The investment seeks long-term capital appreciation and income. The fund invests mainly in mid- and large-capitalization companies whose stocks are considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and that the advisor feels are trading at prices that are below average in relation to such measures as earnings and book value. These stocks often have above-average dividend yields. 922018205 948 949 4134 Large Value VWNFX 06/24/1985 16.25 19.23 -6.55 1.46 3.30 10.31 0.39 40 34 40 44 49 104 121 122 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 948 949 4134 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 948 949 4134 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 948 949 4134 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 Mutual Fund Vanguard GNMA Fund VFIIX 1157 0 1 Partner Funds - Fixed Income Investor 99999 The investment seeks to provide a moderate level of current income. The fund normally invests at least 80% of assets in Government National Mortgage Association certificates. It may invest the balance of assets in other U.S. government obligations, as well as in repurchase agreements secured by U.S. government securities. 922031307 948 949 4134 Intermediate Government VFIIX 06/27/1980 2.30 4.86 9.02 5.59 6.21 8.40 0.23 40 34 40 44 62 104 121 122 123 Vanguard High Yield Corporate Fund VWEHX 1159 0 1 Partner Funds - Fixed Income Investor 99999 The investment seeks high level of current income. The fund invests mainly in a diversified group of high-yielding, higher-risk corporate bonds with medium- and lower-range credit-quality ratings. It invests at least 80% of assets in corporate bonds that are rated below Baa by Moody's and have an equivalent rating by any other independent bond-rating agency; or, if unrated, are determined to be of comparable quality by the advisor. The fund may not invest more than 20% of assets in bonds with credit ratings lower than B or the equivalent, convertible securities, and preferred stocks. 922031208 948 949 4134 High Yield Bond VWEHX 12/27/1978 10.52 32.35 13.90 4.04 4.81 8.62 0.32 40 34 40 44 62 104 121 122 123 Vanguard Inflation-Protected Securities Fund VIPSX 334 0 1 Non-Proprietary Funds - Fixed Income Investor 41518 The investment seeks to provide inflation protection and income consistent with investment in inflation-indexed securities. The fund invests at least 80% of assets in inflation-indexed bonds issued by the U.S. government. It may invest in bonds of any maturity, though the fund typically maintains a dollar-weighted average maturity of 7 to 20 years. 922031869 948 949 4134 Inflation-Protected Bond VIPSX 06/29/2000 3.05 8.73 4.50 4.46 7.12 0.25 40 34 40 44 62 104 121 122 Vanguard Intermediate-Term Investment-Grade Fund VFICX 335 0 1 Non-Proprietary Funds - Fixed Income Investor 41518 The investment seeks to provide a moderate and sustainable level of current income. The fund invests at least 80% of assets in short- and intermediate-term investment-grade securities. It maintains an average weighted maturity of between five and ten years. 922031885 948 949 4134 Intermediate-Term Bond VFICX 11/01/1993 7.58 16.11 15.87 4.47 6.27 6.06 0.26 40 34 40 44 62 104 121 122 Vanguard Short Term Investment Grade Fund VFSTX 1155 0 1 Partner Funds - Fixed Income Investor 99999 The investment seeks to provide current income. The fund invests at least 80% of assets in short and intermediate term corporate bonds and other corporate fixed income obligations. It typically maintains an average weighted maturity of between one and four years. The fund may also invest in U.S. government securities, bank obligations, commercial paper, repurchase agreements, and dollar-denominated foreign securities. 922031406 948 949 4134 Short-Term Bond VFSTX 10/29/1982 4.10 12.58 9.92 4.11 4.89 7.12 0.26 40 34 40 44 62 104 121 122 123 Vanguard Short Term Treasury Fund VFISX 1156 0 1 Partner Funds - Fixed Income Investor 99999 The investment seeks current income. The fund invests at least 80% of assets in U.S. Treasury bills, notes, bonds, and other guaranteed U.S. government obligations. It maintains an average weighted portfolio maturity of between one to four years. 922031703 948 949 4134 Short Government VFISX 10/28/1991 0.88 1.47 4.23 4.29 4.96 5.40 0.22 40 34 40 44 62 104 121 122 123 Vanguard Total Bond Market Index Fund VBMFX 328 0 1 Non-Proprietary Funds - Fixed Income Investor 41518 The investment seeks to track the performance of a broad, market-weighted bond index. The fund invests by sampling the index. It invests at least 80% of assets in bonds held in the index. The fund maintains a dollar-weighted average maturity consistent with that of the index, ranging between 5 and 10 years. 921937108 948 949 4134 Intermediate-Term Bond VBMFX 12/11/1986 3.67 5.86 10.49 5.09 6.03 6.90 0.22 40 34 40 44 62 104 121 122 Western Asset Core Plus Bond Portfolio WACPX 038 0 1 Partner Funds - Fixed Income Institutional 41518 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. 957663503 948 949 4134 Intermediate-Term Bond WACPX 07/08/1998 10.50 21.79 17.24 4.73 6.85 6.30 0.47 40 34 40 44 62 104 121 122 123 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 948 949 4134 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 948 949 4134 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 948 949 4134 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 Mutual Fund TIAA-CREF Lifecycle 2010 Fund TCLEX 135 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W458 948 949 4134 Target Date 2000-2010 TCLEX 10/15/2004 10.68 16.18 3.36 3.17 0.87 34 44 49 104 121 122 123 132 6 TIAA-CREF Lifecycle 2015 Fund TCLIX 136 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W441 948 949 4134 Target Date 2011-2015 TCLIX 10/15/2004 11.81 17.77 2.49 2.96 0.89 34 44 49 104 121 122 123 132 5 TIAA-CREF Lifecycle 2020 Fund TCLTX 137 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W433 948 949 4134 Target Date 2016-2020 TCLTX 10/15/2004 12.86 19.22 1.40 2.51 0.92 34 44 49 104 121 122 123 132 4 TIAA-CREF Lifecycle 2025 Fund TCLFX 138 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W425 948 949 4134 Target Date 2021-2025 TCLFX 10/15/2004 13.89 20.53 0.08 2.09 0.94 34 44 49 104 121 122 123 132 3 TIAA-CREF Lifecycle 2030 Fund TCLNX 139 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W417 948 949 4134 Target Date 2026-2030 TCLNX 10/15/2004 14.99 21.78 -1.41 1.58 0.96 34 44 49 104 121 122 123 132 2 TIAA-CREF Lifecycle 2035 Fund TCLRX 140 0 1 Proprietary Funds - Asset Allocation Retirement 41518 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. 87244W391 948 949 4134 Target Date 2031-2035 TCLRX 10/15/2004 15.93 23.04 -1.94 1.59 0.98 34 44 49 104 121 122 123 132 1 TIAA-CREF Lifecycle 2040 Fund TCLOX 141 0 1 Proprietary Funds - Asset Allocation Retirement 99999 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. 87244W383 948 949 4134 Target Date 2036-2040 TCLOX 10/15/2004 15.91 23.04 -1.91 1.98 0.95 34 44 49 104 121 122 123 132 1 TIAA-CREF Lifecycle 2045 Fund TTFRX 522 0 1 Proprietary Funds - Asset Allocation Retirement 99999 The investment seeks high total return over time through a combination of 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 2045. It expects to allocate approximately 90.0% of assets to equity underlying funds and 10.0% of assets to fixed-income underlying funds. 886315522 948 949 4134 Target Date 2041-2045 TTFRX 11/30/2007 15.91 23.10 -2.93 -14.48 7.08 34 44 104 121 122 123 132 1 TIAA-CREF Lifecycle 2050 Fund TLFRX 525 0 1 Proprietary Funds - Asset Allocation Retirement 41518 The investment seeks high total return over time through a combination of 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 2050. Currently, it expects to allocate approximately 90% of assets to equity underlying funds and 10% of assets to fixed-income underlying funds. 886315514 948 949 4134 Target Date 2050+ TLFRX 11/30/2007 15.88 22.64 -4.08 -14.67 8.17 34 44 104 121 122 123 132 1 TIAA-CREF Lifecycle Retirement Income Fund TLIRX 528 0 1 Proprietary Funds - Asset Allocation Retirement 99999 The investment seeks high total return over time primarily through income, with a secondary emphasis on capital appreciation. The fund invests primarily in underlying funds according to a fixed, more conservative asset allocation strategy designed for investors who are already in or entering retirement. Currently, it invests in a diversified portfolio consisting of about 40% stocks and 60% bonds. The fund expects to allocate approximately 40% of assets to equity underlying funds and 60% of assets to fixed-income underlying funds. 886315480 948 949 4134 Retirement Income TLIRX 11/30/2007 8.88 13.74 4.86 -3.39 2.17 34 44 104 121 122 123 125 132 7 Vanguard Wellington Fund VWELX 326 0 1 Non-Proprietary Funds - Asset Allocation Investor 41518 The investment seeks to provide long-term capital appreciation and reasonable current income. The fund invests 60% to 70% of assets in dividend-paying and, to a lesser extent, non-dividend-paying common stocks of established, medium-size and large companies. It invests 30% to 40% of the fund's assets mainly in fixed income securities. These securities include investment-grade corporate bonds, with some exposure to U.S. Treasury and government agency bonds, and mortgage-backed securities. 921935102 948 949 4134 Moderate Allocation VWELX 07/01/1929 11.33 17.01 4.53 5.21 5.95 8.07 0.35 40 34 40 44 49 104 121 122 Asset allocation risk is the risk that a fund or account that invests in other funds or accounts may not be able to invest according to its target allocations due to fluctuations in the value of the underlying funds or accounts, and that the selection of underlying funds or accounts and the allocations among them will result in the fund or account's underperformance versus similar funds or accounts or will cause an investor to lose money. 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. Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency. 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. The securities markets of Asia, Latin, Central and South America, Eastern Europe, the Middle East, Africa and other emerging regions are less liquid, are especially subject to greater price volatility, have smaller market capitalizations, have less government regulation and are not subject to as extensive and frequent accounting, financial and other reporting requirements as the securities markets of more developed countries. Further, investment in equity securities of issuers located in certain emerging countries involves risk of loss resulting from problems in share registration and custody and substantial economic and political disruptions. These risks are not normally associated with investments in more developed countries. 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. Industry concentration risk is the chance that there will be overall problems affecting a particular industry. Because the Fund normally invests at least 80% of its assets in the common stocks of companies principally engaged in energy-related activities, the Fund's performance largely depends--for better or for worse--on the overall condition of the energy industry. The energy industry could be adversely affected by various political, regulatory, supply and demand, and other economic factors. 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. Companies involved in IPOs generally have limited operating histories, and prospects for future profitability are uncertain. Prices of IPOs may also be unstable because of the absence of a prior public market, the small number of shares available for trading, and limited investor information. IPOs will frequently be sold within 12 months of purchase. This may result in increased short-term capital gains, which will be taxable to shareholders as ordinary income. 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. 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. <b>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).</b> <b><i>TIAA-CREF Individual &amp; 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.</i></b> <b>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.</b> 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<SUP>®</SUP>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 chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on the month end after the commencement of operations (whichever is later). The 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. This chart is not intended to imply any future performance of 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. Performance shown for the Retirement Class shares of the International Equity Fund was impacted by a misallocation of income and net capital gains among the Fund's share classes. If this misallocation had not occurred, the three-month and year-to-date returns would have been 1.19% and 18.76, respectively; the one-year, five-year, and since inception average annual total returns would have been 18.76%, 23.52, and 23.54%, respectively. Shareholders who owned Retirement Class shares on or before May 25, 2006, who were negatively impacted by this misallocation by more than $10, have been made whole through direct payments by Teachers Advisors, Inc. For additional information please contact our Telephone Counseling Center at 800 927-3059. 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&amp;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&amp;P 500 is a registered trademark and service mark of the McGraw-Hill Companies. The Russell 3000^® Index measures the performance of the 3,000 largest publicly traded U.S. companies, based on market capitalization. These companies make up about 98% of the total market capitalization of the publicly traded U.S. equity market. You cannot invest directly in this index. TIAA-CREF products are not promoted or sponsored by, or affiliated with, the Frank Russell Company. Russell 3000 is a trademark and service mark of the Frank Russell Company. 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. This is a new investment choice being offered by TIAA-CREF and no performance is available this quarter. You will be charged a 2.00% fee of the amount redeemed or exchanged out of the fund within 60 calendar days of the initial purchase date. Please see the prospectus for details about this redemption fee and certain exemptions that may apply. The above performance data does not reflect the deduction of the redemption fee, and if reflected, the fee would reduce the performance quoted. 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. <b>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.</b> 6341 Benefits Office benefits@hr.utah.edu (801) 581-2169 Monday - Friday, 7:30 a.m. - 5:30 p.m. (MT) 420 Wakara Way Suite 105 Salt Lake City UT US 84108- Benefits Office/Human Resources OFFICE 1 1 7814 Enrollment Forms Return Address Human Resources Benefits Office 420 Wakara Way, Suite 105 Salt Lake City UT US 84108 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) Group Supplemental Retirement (GSRA) Annuity contract form series G1250.1 (not available in all states).