TIAA-CREF SAMPLE MENU – DIRECT OFFER
FOUNDATION
A SIMPLIFIED OFFERING OF BROAD CHOICES
NOTES AND DISCLOSURES
The CREF Money Market Account and TIAA-CREF Institutional Money Market Fund are not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other government
agency. Although the Institutional Money Market Fund seeks to preserve the value of your
investment at $1 per share, it is possible to lose money by investing in the fund.
Please note the asterisk and current yield information included next to listed money market funds.
*The current yield more closely reflects the account’s current earnings than does the total return.
Yields: CREF Money Market Retirement Current 7-Day Yield: 0.00%
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services,
Inc., mem­­bers FINRA, distribute securities products. TIAA (Teachers Insurance and Annuity
Association) New York, NY and TIAA-CREF Life Insurance Co., New York, NY issue insurance and
annuities. You should consider the investment objectives, risks, charges and expenses carefully
before investing. Please call 877 518-9161 or log on to tiaa-cref.org for a prospectus that
contains this and other information. Please read the prospectus carefully before investing.
Morningstar is an independent service that rates mutual funds and variable annuities, based
on risk-adjusted returns. Although Morningstar data are gathered from reliable sources, neither
Morningstar nor TIAA-CREF can guarantee its completeness and accuracy. Morningstar does not
rate money market accounts, and the other TIAA-CREF mutual fund accounts are too new to be
rated. Past performance does not guarantee future results. Accumulation net asset values and
returns will vary.
TIAA Traditional is a guaranteed insurance contract and not an investment for Federal Securities
Law purposes. 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.
The TIAA Traditional Retirement Annuity credit rating as of April 1, 2011 is 3.85%.
If the proposed menu includes TIAA Traditional Annuity and/or TIAA Stable Value, please refer to the
Request For Proposal (RFP) responses and/or RFP Response Expense Supplement(s) for important
additional details regarding estimated or actual expenses associated with these options.
TIAA-CREF Growth & Income Fund/TIAA-CREF International Equity Fund/TIAA-CREF Money Market
Fund: These funds’ Institutional Classes began operations on July 1, 1999. Performance shown
prior to the inception of the Retirement Classes is based on the performance of each fund’s
Institutional 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.
Annuity account options are available through annuity contracts issued by TIAA or CREF. These
contracts are designed for retirement or other long-term goals, and offer a variety of income options,
including lifetime income. Payments from the variable annuity accounts are not guaranteed and will
rise or fall based on investment performance. Mutual funds do not offer the range of income options
available through annuities.
Continued
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
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FOUNDATION – A SIMPLIFIED OFFERING OF BROAD CHOICES
For variable annuities, we estimate expenses for the plan year based on projected expense and
asset levels. Differences between estimated and actual expenses are adjusted quarterly and
reflected in current investment results. Historically, the adjusting payments have resulted in both
upward and downward adjustments.
Investing in non-investment grade securities presents special risks, including significantly higher
interest-rate and credit risk.
Small-cap and mid-cap stocks may have limited marketability and may be subject to more abrupt or
erratic market movements than large-cap stocks.
Funds that invest in fixed income securities are not guaranteed and are subject to interest rate,
inflation, and credit risks.
Funds that invest in foreign securities are subject to special risks, including currency fluctuation and
political and economic instability.
Real estate securities are subject to various risks, including fluctuations in property values, higher
expenses or lower income than expected, and potential environmental problems and liability.
TIAA-CREF Lifecycle Funds share the risks associated with the types of securities held by each of
the underlying funds in which they invest. In addition to the fees and expenses associated with the
Lifecycle Funds, there is exposure to the fees and expenses associated with the underlying mutual
funds as well.
TIAA Stable Value is a guaranteed annuity contract issued by Teachers Insurance and Annuity
Association (TIAA), New York, NY 10017. Contributions from different plans are pooled together and
deposited in a non-annuitized pooled separate account of TIAA. This guaranteed annuity contract is
not considered to be an “investment” or “security” under federal securities laws. In addition, the
contract provides a guaranteed minimum rate of interest of between 1% and 3% (before deductions
for contract fees). Contract fees are described in the annuity contract and are collected on a daily
basis. Payment obligations and the fulfillment of the guarantees provided for in the contract in
the accumulation phase are supported by the assets in the separate account. If the assets in
the separate account are insufficient to meet these obligations, the shortfall is supported by the
General Account of TIAA and is therefore subject to TIAA’s claims-paying ability. Lifetime annuity
payments are provided by TIAA, are subject to TIAA’s claims-paying ability, and are not supported by
the assets in the separate account. Past interest rates are not indicative of future interest rates.
This product is not a mutual fund, variable annuity or bank product. The obligations of TIAA are not
insured by the FDIC or any other federal governmental agency.
As provided for in the annuity contract, restrictions may apply to certain plan sponsor and/or
participant initiated transactions. Please refer to the annuity contract or certificate for further
details.
The TIAA Stable Value minimum guaranteed rate is subject to change every six months; for the first
half of 2011, it is 1.00%.
Investment products are not FDIC insured, may lose value and are not bank guaranteed.
Prospectus Gross Expense Ratio
The percentage of fund assets used to pay for operating expenses and management fees, including
12b‑1 fees, administrative fees, and all other asset-based costs incurred by the fund, except
brokerage costs. Fund expenses are reflected in the fund’s NAV. Sales charges are not included in
the expense ratio.
- The expense ratio for fund of funds is the aggregate expense ratio defined as the sum of the wrap
or sponsor fees plus the estimated weighted average of the underlying fund fees.
- Often referred to as the Annual Operating Expense, the Prospectus Gross Expense Ratio is
collected annually from a fund’s prospectus.
Continued
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
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FOUNDATION – A SIMPLIFIED OFFERING OF BROAD CHOICES
Prospectus Net Expense Ratio
The percentage of fund assets, net of reimbursements, used to pay for operating expenses and
management fees, including 12b-1 fees, administrative fees, and all other asset-based costs
incurred by the fund, except brokerage costs. Fund expenses are reflected in the fund’s NAV. Sales
charges are not included in the expense ratio.
- The expense ratio for fund of funds is the aggregate expense ratio defined as the sum of the wrap
or sponsor fees plus the estimated weighted average of the underlying fund fees.
- Net reimbursements, the Prospectus Net Expense Ratio is collected annually from a fund’s
prospectus.
- TIAA-CREF, unless noted, does not charge additional fees for record keeping a fund. 12b-1, revenue
share and admin fees are all included in the Prospectus fees.
- Prospectus Net Expense Ratio %-ile rank is the percentile rank for the fund. The better (lower) the
expense ratio the lower the ranking out of 100.
Please note that TIAA-CREF does receive 12b-1 fees from our clients which are included in the
expense ratios shown.
Beginning July 16, 2009, part or all of the 12b-1 distribution expenses and administrative expenses
attributable to the CREF Money Market Account are being voluntarily waived. Without these waivers,
the 7-day current and effective annualized yields and total returns would have been lower. These
waivers may be discontinued at any time without notice.
Beginning August 18, 2009, part or all of the service fee on the Retirement Class of the TIAA-CREF
Money Market Fund is being voluntarily waived. Without this waiver, current and effective annualized
yields and total returns would have been lower. This 12b-1 waiver may be discontinued at any time
without notice.
©2011 and prior years, Teachers Insurance and Annuity Association-College Retirement Equities Fund
(TIAA‑CREF), New York, NY 10017
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
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FOUNDATION – A SIMPLIFIED OFFERING OF BROAD CHOICES
As of 3/31/2011
Ticker
Prospectus
Gross
Exp. Ratio
Prospectus
Net
Exp. Ratio
Morningstar
Category
TIAA-CREF Lifecycle Retire Inc Retire
TLIRX
1.08
0.63
US OE Retirement Income
TIAA-CREF Lifecycle 2010 Retire
TCLEX
0.86
0.65
US OE Target Date 2000-2010
TIAA-CREF Lifecycle 2015 Retire
TCLIX
0.87
0.66
US OE Target Date 2011-2015
TIAA-CREF Lifecycle 2020 Retire
TCLTX
0.88
0.67
US OE Target Date 2016-2020
TIAA-CREF Lifecycle 2025 Retirement
TCLFX
0.89
0.68
US OE Target Date 2021-2025
TIAA-CREF Lifecycle 2030 Retirement
TCLNX
0.90
0.69
US OE Target Date 2026-2030
TIAA-CREF Lifecycle 2035 Retire
TCLRX
0.91
0.70
US OE Target Date 2031-2035
TIAA-CREF Lifecycle 2040 Retire
TCLOX
0.90
0.70
US OE Target Date 2036-2040
TIAA-CREF Lifecycle 2045 Retirement
TTFRX
1.09
0.70
US OE Target Date 2041-2045
TIAA-CREF Lifecycle 2050 Retire
TLFRX
1.28
0.70
US OE Target Date 2050+
TIAA Traditional Retirement Annuity
Fixed Annuity
N/A
N/A
N/A
TIAA Stable Value
Fixed Annuity
N/A
N/A
N/A
Variable Annuity
0.375
0.375
US VA Sub Money Market Taxable
LALDX
0.60
0.60
US OE Short-Term Bond
Variable Annuity
0.405
0.405
US VA Sub Inflation-Protected Bond
Variable Annuity
0.405
0.405
US VA Sub Intermediate-Term Bond
MBFAX
0.86
0.83
US OE Intermediate-Term Bond
MHCAX
1.03
1.03
US OE High Yield Bond
Variable Annuity
0.405
0.405
US VA Sub Moderate Allocation
Variable Annuity
0.430
0.430
US VA Sub Large Growth
PJFAX
1.11
1.11
US OE Large Growth
LIFECYCLE
STABLE VALUE/GUARANTEED
MONEY MARKET
*CREF Money Market
SHORT-TERM BOND
Lord Abbett Short Duration Income A
INFLATION-LINKED BOND
CREF Inflation-Linked Bond
CORE FIXED INCOME
CREF Bond Market
Wells Fargo Advantage Ttl Return Bond A
HIGH-YIELD FIXED INCOME
MainStay High-Yield Corporate Bond A
MODERATE ALLOCATION
CREF Social Choice
LARGE-CAP GROWTH
CREF Growth
Prudential Jennison Growth A
Continued
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
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FOUNDATION – A SIMPLIFIED OFFERING OF BROAD CHOICES
As of 3/31/2011
Ticker
Prospectus
Gross
Exp. Ratio
Prospectus
Net
Exp. Ratio
Morningstar
Category
Variable Annuity
0.385
0.385
US VA Sub Large Blend
Variable Annuity
0.435
0.435
US VA Sub Large Blend
EHSTX
1.03
1.03
US OE Large Value
HFMSX
1.18
1.18
US OE Mid-Cap Growth
TRVRX
0.74
0.74
US OE Mid-Cap Value
LAGWX
1.14
1.14
US OE Small Growth
VSFAX
1.84
1.35
US OE Small Value
TPINX
0.93
0.92
US OE World Bond
Variable Annuity
0.460
0.460
US VA Sub World Stock
TRERX
0.78
0.78
US OE Foreign Large Blend
LAIAX
1.36
1.36
US OE Foreign Small/Mid Growth
Variable Annuity
1.06
1.06
US VA Sub Real Estate
LARGE-CAP BLEND – INDEX
CREF Equity Index
LARGE-CAP BLEND
CREF Stock
LARGE-CAP VALUE
Eaton Vance Large-Cap Value A
MID-CAP GROWTH
Hartford Midcap R4
MID-CAP VALUE
TIAA-CREF Mid-Cap Value Retire
SMALL-CAP GROWTH
Lord Abbett Developing Growth A
SMALL-CAP VALUE
Federated Clover Small Value A
WORLD BOND
Templeton Global Bond A
WORLD STOCK
CREF Global Equities
INTERNATIONAL EQUITY
TIAA-CREF International Eq Retire
INTERNATIONAL SMID
Columbia Acorn International A
REAL ESTATE DIRECTLY OWNED
TIAA Real Estate
Source: Morningstar & TIAA-CREF
C47961
FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE PUBLIC.
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