After-Tax Annuities: Current Performance

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

1. Rates of return reflect past performance and are no guarantee of comparable future results. The value of your accumulation in the variable annuities can rise or fall. The units you own may be worth more or less than their original price when you redeem them. Investment results shown here are after all investment, administrative, and distribution expenses.
2. Each business day, estimated unit values are usually posted between 6:00 p.m. and 8:00 p.m., ET. Final unit values are usually posted between 10:00 p.m. and 11:00 p.m., ET. On days when stock trading is particularly active, the estimated unit values may be posted a little later, and the final unit values may be posted the following morning. If the net change and YTD return figures do not appear, the unit values you're looking at are preliminary estimates.
3. Net change from the previous business day. Both the "Net Change" and "YTD Return" columns for variable annuities are only updated once final valuations have been performed; this usually occurs at approximately 10:00 p.m. ET..
4. To see the inception date for each account, click on that account and review the account profile information.
5. The since inception values presented for non-TIAA-CREF Life funds are cumulative and not average annualized total returns.
6. An investment in a 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 these accounts.
   The current yield more closely reflects the account's current earnings than does the total return. Yields shown here for the Money Market Account reflects annual expenses inclusive of the 0.60% charged by the separate account.
7. From November 30, 2007 on, the since inception performance shown is computed from the inception date of the fund/account (the date on which the fund/account became publicly available). Previously, since inception performance for this fund/account was computed from the net asset value per share on the day prior to the inception date.
8. Current effective annual rate credited on new fixed account premiums. This rate is subject to change.
   
   The Teachers Personal Annuity Fixed Account and the Personal Annuity Select Fixed Account provide the opportunity for additional interest on top of a guaranteed minimum. Additional interest comes from earnings over and above the amounts needed to meet contractual guarantees. The rates do not apply to accumulations in the variable components of the Teachers Personal Annuity and the Personal Annuity Select. Contracts issued prior to 03/01/2004 have a guaranteed minimum interest rate of 3%. Contracts issued after 02/29/2004 have a guaranteed minimum interest rate which varies by state of issue. Please call 1 800-223-1200 for the guaranteed minimum in your state.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please click here or call 1 877 518-9161 for a prospectus that contains this and other information. Please read the prospectus carefully before investing. TIAA (Teachers Insurance and Annuity Association) and TIAA-CREF Life Insurance Company (TIAA-CREF Life), New York, NY issues after-tax annuities. Investment products are not FDIC insured, may lose value, and are not guaranteed.