TIAA-CREF announced today that the Trustees of the College Retirement Equities Fund (CREF) have extended the participation of the TIAA-CREF Funds Money Market Fund and the TIAA-CREF Life Funds Money Market Fund in the U.S. Treasury Department’s Temporary Guarantee Program for Money Market Funds. The CREF Money Market Account is not eligible for participation in the program.
The Treasury Department has extended the program until September 18, 2009. The program had been set to expire on April 30, 2009. The Treasury Department’s money market program will continue to provide coverage to shareholders up to the amount held in participating money market funds as of the close of business on September 19, 2008.
Read a statement on TIAA-CREF’s decision to participate in the U.S. Treasury Money Market Guarantee Program.
Visit the U.S. Treasury Department’s website to view the most recent release on the program.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1 877-518-9161, or go to www.tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.
The U.S. Treasury Temporary Guarantee Program provides a guarantee to participating money market mutual fund shareholders based on the number of shares invested in the fund at the close of business on September 19, 2008. Any increase in the number of shares held in an account after the close of business on September 19, 2008 will not be guaranteed. If a customer redeems all of his shares held in an account, any future investment in the fund will not be guaranteed. If the number of shares held in an account fluctuates over the period, investors will be covered for either the number of shares held as of the close of business on September 19, 2008 or the current amount, whichever is less. The Program expires on September 18, 2009, unless extended by the United States Treasury.
The TIAA-CREF Funds Money Market Fund and Life Money Market Fund are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although these funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in these funds.
The CREF Money Market Account is a variable annuity account that is available to eligible participants only. Annuity account options are available through 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.
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. It is possible to lose money in this account.
Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
© 2009 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
