| Intelligent Variable Annuity* | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Data1 as of 07/03/2008 |
Average Annual Total Returns1 as of 06/30/2008 |
|||||||
| Unit Values |
Net Change3 |
YTD Return3 |
1 Year | 3 Year | 5 Year | 10 Year | Since Inception4,5 | |
| International | ||||||||
| Credit Suisse Global Small Cap Portfolio | $12.50 | -0.18 |
0.08% | -- | -- | -- | -- | 4.47% |
| Delaware VIP International Value Equity Series - Standard Class | $12.29 | +0.07 |
-7.10% | -- | -- | -- | -- | -5.17% |
| Janus Aspen International Growth Portfolio - Institutional Shares | $54.48 | -0.25 |
-10.49% | -- | -- | -- | -- | -6.40% |
| MFS Global Equity Series - Initial Class | $13.79 | +0.04 |
-0.99% | -- | -- | -- | -- | 0.58% |
| MFS Growth Series - Initial Class | $23.02 | -0.16 |
3.05% | -- | -- | -- | -- | 6.31% |
| Templeton Developing Markets Securities Fund - Class 1 | $12.87 | -0.13 |
-8.30% | -- | -- | -- | -- | -4.47% |
| TIAA-CREF Life International Equity | $25.26 | -0.01 |
-20.93% | -15.29% | 13.60% | 16.58% | -- | 1.98% |
| Wanger International | $37.98 | -0.50 |
-2.83% | -- | -- | -- | -- | 1.81% |
| U.S. Equity | ||||||||
| Credit Suisse Small Cap Core I Portfolio | $13.76 | -0.11 |
-2.71% | -- | -- | -- | -- | 0.89% |
| Delaware VIP Small Cap Value Series - Standard Class | $26.77 | -0.24 |
-1.93% | -- | -- | -- | -- | 1.27% |
| Franklin Small-Mid Cap Growth Securities Fund - Class 1 | $20.38 | -0.37 |
-1.00% | -- | -- | -- | -- | 3.22% |
| Janus Aspen Forty Portfolio - Institutional Shares | $39.61 | -0.20 |
7.45% | -- | -- | -- | -- | 11.01% |
| Janus Aspen Risk-Managed Core Portfolio - Service Shares | $11.62 | +0.02 |
-3.37% | -- | -- | -- | -- | -2.48% |
| Janus Aspen Mid Cap Value Portfolio - Institutional Shares | $15.85 | -0.10 |
-3.22% | -- | -- | -- | -- | -1.14% |
| Jennison 20/20 Focus Portfolio - Class II | $16.83 | -0.12 |
7.14% | -- | -- | -- | -- | 9.66% |
| Legg Mason Partners Variable Aggressive Growth Portfolio - Class 1 | $14.35 | -0.09 |
-6.20% | -- | -- | -- | -- | -3.58% |
| Legg Mason Partners Variable Small Cap Growth Portfolio - Class 1 | $14.67 | -0.14 |
2.16% | -- | -- | -- | -- | 5.37% |
| MFS Investors Growth Stock Series - Initial Class | $10.50 | 0.00 | -1.73% | -- | -- | -- | -- | -0.25% |
| Mutual Shares Securities Fund - Class 1 | $17.23 | -0.01 |
-8.74% | -- | -- | -- | -- | -7.37% |
| Neuberger Berman AMT Partners Portfolio - I Class | $18.89 | -0.17 |
0.71% | -- | -- | -- | -- | 5.02% |
| Neuberger Berman AMT Regency Portfolio - I Class | $14.50 | -0.15 |
-2.06% | -- | -- | -- | -- | 2.12% |
| PVC Equity Income Account I - Class 1 | $16.27 | +0.01 |
-7.72% | -- | -- | -- | -- | -6.41% |
| PVC Mid Cap Stock Account - Class 1 | $13.68 | -0.07 |
-6.31% | -- | -- | -- | -- | -4.22% |
| Royce Capital Fund Micro-Cap Portfolio - Investment Class | $13.41 | -0.14 |
-2.42% | -- | -- | -- | -- | 0.89% |
| Royce Capital Fund Small-Cap Portfolio - Investment Class | $10.34 | -0.08 |
3.30% | -- | -- | -- | -- | 5.92% |
| TIAA-CREF Life Growth & Income | $27.37 | +0.01 |
-11.83% | -4.66% | 9.23% | 10.13% | -- | 0.24% |
| TIAA-CREF Life Growth Equity | $16.11 | -0.01 |
-11.98% | 0.02% | 7.09% | 7.54% | -- | -5.30% |
| TIAA-CREF Life Large Cap Value | $41.75 | -0.13 |
-16.96% | -15.29% | 13.60% | 16.58% | -- | 1.98% |
| TIAA-CREF Life Small Cap Equity | $44.77 | -0.40 |
-10.28% | -18.08% | 2.51% | 9.62% | -- | 12.50% |
| TIAA-CREF Life Social Choice | $26.76 | -0.07 |
-11.81% | -12.17% | 4.53% | 7.71% | -- | 0.07% |
| TIAA-CREF Life Stock Index | $32.19 | -0.05 |
-12.88% | -13.12% | 4.09% | 7.67% | -- | 2.31% |
| Value Portfolio - Class II | $24.25 | -0.17 |
-2.38% | -- | -- | -- | -- | 0.14% |
| Wanger Select Fund | $25.13 | -0.27 |
-1.83% | -- | -- | -- | -- | 3.04% |
| Wanger U.S.A. | $32.12 | -0.37 |
-2.87% | -- | -- | -- | -- | 0.38% |
| Balanced | ||||||||
| Calamos Growth & Income Portfolio | $13.83 | -0.02 |
-2.87% | -- | -- | -- | -- | -1.64% |
| Franklin Income Securities Fund - Class 1 | $16.62 | -0.02 |
-2.87% | -- | -- | -- | -- | -2.05% |
| PIMCO VIT All Asset Portfolio - Institutional Class | $12.16 | +0.01 |
-1.16% | -- | -- | -- | -- | -1.33% |
| Fixed Income | ||||||||
| Delaware VIP Diversified Income Series- Standard Class | $10.24 | -0.01 |
-1.56% | -- | -- | -- | -- | -1.35% |
| Legg Mason Partners Variable Global High Yield Bond Portfolio - Class 1 | $9.47 | -0.03 |
-0.88% | -- | -- | -- | -- | -0.08% |
| PIMCO VIT Global Bond Portfolio (Unhedged) - Inst. Class | $13.36 | -0.05 |
-0.16% | -- | -- | -- | -- | -0.28% |
| PIMCO VIT Real Return Portfolio - Institutional Class | $13.30 | +0.05 |
0.84% | -- | -- | -- | -- | -0.22% |
| TIAA-CREF Life Bond | $28.75 | -0.04 |
-0.63% | 3.99% | 2.69% | -- | -- | 3.23% |
| Real Estate | ||||||||
| TIAA-CREF Life Real Estate | $50.20 | -0.33 |
-7.15% | -15.77% | 2.10% | 12.01% | -- | 14.72% |
| Sector Specific | ||||||||
| Credit Suisse Commodity Return Strategy Portfolio | $15.32 | -0.01 |
26.82% | -- | -- | -- | -- | 24.31% |
| MFS Utilities Series - Initial Class | $32.94 | -0.39 |
4.43% | -- | -- | -- | -- | 6.90% |
| Natural Resources Portfolio- Class II | $75.87 | -1.63 |
22.19% | -- | -- | -- | -- | 30.10% |
| Money Market6 | ||||||||
| TIAA-CREF Life Money Market | $11.49 | 0.00 | 1.35% | 3.66% | 4.01% | -- | -- | 2.82% |
| 7-day current annualized yield 1.85% as of 07/02/2008 7-day effective annualized yield 1.87% as of 07/02/2008 |
||||||||
| Lifetime Variable Select** | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Data1 as of 07/03/2008 |
Average Annual Total Returns1 as of 06/30/2008 |
|||||||
| Unit Values2 |
Net Change3 |
YTD Return3 |
1 Year | 3 Year | 5 Year | 10 Year | Since Inception4,7 | |
| International | ||||||||
| International Equity | $25.26 | -0.02 |
-20.93% | -15.29% | 13.60% | 16.58% | -- | 1.98% |
| U.S. Equity | ||||||||
| Growth Equity | $16.11 | -0.01 |
-11.98% | 0.02% | 7.09% | 7.54% | -- | -5.30% |
| Growth & Income | $27.37 | +0.01 |
-11.83% | -4.66% | 9.23% | 10.13% | -- | 0.24% |
| Large-Cap Value | $41.75 | -0.13 |
-16.96% | -22.50% | 2.40% | 8.74% | -- | 10.08% |
| Stock Index | $32.19 | -0.05 |
-12.88% | -13.12% | 4.09% | 7.67% | -- | 2.31% |
| Small-Cap Equity | $44.77 | -0.40 |
-10.28% | -18.08% | 2.51% | 9.62% | -- | 12.50% |
| Social Choice Equity | $26.76 | -0.06 |
-11.81% | -12.17% | 4.53% | 7.71% | -- | 0.07% |
| Fixed Income | ||||||||
| Bond | $28.75 | -0.04 |
-0.63% | 3.99% | 2.69% | -- | -- | 3.23% |
| Real Estate | ||||||||
| Real Estate Securities | $50.20 | -0.33 |
-7.15% | -15.77% | 2.10% | 12.01% | -- | 14.72% |
| Money Market6 | ||||||||
| Money Market | $11.48 | 0.00 | 1.35% | 3.66% | 4.01% | -- | -- | 2.82% |
| 7-day current annualized yield 1.85% as of 07/02/2008 7-day effective annualized yield 1.87% as of 07/02/2008 |
||||||||
| Personal Annuity Select | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Data1 as of 07/03/2008 |
Average Annual Total Returns1 as of 06/30/2008 | |||||||
| Unit Values2 |
Net Change3 |
YTD Return3 |
1 Year | 3 Year | 5 Year | 10 Year | Since Inception4,7 | |
| International | ||||||||
| International Equity | $25.26 | -0.02 |
-20.93% | -15.29% | 13.60% | 16.58% | -- | 2.10% |
| U.S. Equity | ||||||||
| Growth Equity | $16.10 | -0.01 |
-11.98% | 0.02% | 7.08% | 7.53% | -- | -5.20% |
| Growth & Income | $27.37 | +0.01 |
-11.83% | -4.67% | 9.22% | 10.13% | -- | 0.36% |
| Large-Cap Value | $41.75 | -0.12 |
-16.96% | -22.50% | 2.40% | 8.74% | -- | 10.12% |
| Small-Cap Equity | $44.75 | -0.41 |
-10.28% | -18.09% | 2.50% | 9.61% | -- | 12.53% |
| Social Choice Equity | $26.76 | -0.06 |
-11.81% | -12.17% | 4.53% | 7.71% | -- | 0.19% |
| Stock Index | $32.19 | -0.05 |
-12.88% | -13.13% | 4.09% | 7.68% | -- | 2.46% |
| Real Estate | ||||||||
| Real Estate Securities | $50.20 | -0.32 |
-7.15% | -15.78% | 2.10% | 12.01% | -- | 14.76% |
| Teachers Personal Annuity | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Data1 as of 07/03/2008 |
Average Annual Total Returns1 as of 06/30/2008 | |||||||
| Unit Values2 |
Net Change3 |
YTD Return3 |
1 Year | 3 Year | 5 Year | 10 Year | Since Inception4,7 | |
| U.S. Equity | ||||||||
| Stock Index | $83.28 | -0.12 |
-12.93% | -13.16% | 4.08% | 7.66% | 3.00% | 9.15% |
| Fixed Interest Accounts | ||
|---|---|---|
| Current Interest Rates8 | ||
| Personal Annuity Select Fixed Account | For premiums received prior to 06/01/2008 For premiums received after 05/31/2008 |
3.50% 3.50% |
| Teachers Personal Annuity Fixed Account | For premiums received prior to 06/01/2008 For premiums received after 05/31/2008 |
3.50% 3.50% |
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.
| * | Intelligent Variable Annuity's contract issuance date was February 5th, 2008 and the separate account established date was July 27th, 1998. Performance includes investment account performance prior to introduction of contract, adjusted to reflect Intelligent Variable Annuity's contract expenses. |
| ** | Lifetime Variable Select performance includes investment account performance prior to introduction of contract, adjusted to reflect Lifetime Variable Select contract expenses. |
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.
© 2008 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017