| CREF Variable Annuities | |||||||
|---|---|---|---|---|---|---|---|
| Average Annual Total Returns as of 09/30/2009 | |||||||
| 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
Inception Date | ||
| World | |||||||
| Global Equities | -2.10% | -4.25% | 3.28% | 0.61% | 6.83% | 05/01/1992 | |
| U.S./International Equity | |||||||
| Stock | -3.05% | -4.08% | 2.79% | 1.03% | 9.70% | 08/01/1952 | |
| U.S. Equity | |||||||
| Equity Index | -6.70% | -5.42% | 1.16% | 0.36% | 7.36% | 04/29/1994 | |
| Growth | -2.35% | -2.06% | 1.56% | -3.44% | 5.56% | 04/29/1994 | |
| Balanced | |||||||
| Social Choice | 2.26% | -0.34% | 3.12% | 2.95% | 8.29% | 03/01/1990 | |
| Fixed Income | |||||||
| Bond Market | 9.20% | 4.99% | 4.22% | 5.79% | 6.82% | 03/01/1990 | |
| Inflation-Linked Bond | 4.58% | 4.97% | 4.26% | 7.03% | 6.34% | 05/01/1997 | |
| Money Market1 | |||||||
| Money Market | 0.73% | 2.89% | 3.08% | 3.00% | 4.46% | 04/01/1988 | |
| 7-day current annualized yield 0.01% as of 11/05/2009 7-day effective annualized yield 0.01% as of 11/05/2009 |
|||||||
| TIAA Variable Annuities | |||||||
|---|---|---|---|---|---|---|---|
| Average Annual Total Returns as of 09/30/2009 | |||||||
| 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
Inception Date | ||
| Real Estate | |||||||
| Real Estate | -33.83% | -8.75% | 0.02% | 3.86% | 5.12% | 10/02/1995 | |
| TIAA-CREF Funds - Retirement Class2 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Average Annual Total Returns3 as of 09/30/2009 | Expense Ratios* | |||||||
| 1 Year | 3 Year | 5 Year | 10 Year | Since Inception2 |
Gross | Net | Inception Date |
|
| International | ||||||||
| International Equity** | -3.42% | -5.87% | 4.59% | -- | 9.61% | 0.79% | 0.79% | 10/01/2002 |
| International Equity Index | 1.57% | -3.67% | 5.82% | -- | 10.49% | 0.36% | 0.36% | 10/01/2002 |
| U.S. Equity | ||||||||
| Equity Index** | -6.60% | -5.26% | -- | -- | -3.87% | 0.33% | 0.33% | 03/31/2006 |
| Growth & Income** | -2.66% | 0.38% | 4.86% | -- | 7.40% | 0.75% | 0.75% | 10/01/2002 |
| Large-Cap Growth | -4.17% | -2.09% | -- | -- | -2.73% | 0.78% | 0.77% | 03/31/2006 |
| Large-Cap Growth Index4 | -2.06% | -2.79% | 1.48% | -- | 4.80% | 0.35% | 0.34% | 10/01/2002 |
| Large-Cap Value | -0.88% | -5.80% | 2.10% | -- | 7.46% | 0.74% | 0.74% | 10/01/2002 |
| Large-Cap Value Index | -10.77% | -8.08% | 0.59% | -- | 5.69% | 0.35% | 0.35% | 10/01/2002 |
| Mid-Cap Growth | -2.69% | -2.69% | 3.15% | -- | 9.00% | 0.81% | 0.81% | 10/01/2002 |
| Mid-Cap Value | -3.98% | -3.41% | 5.20% | -- | 11.10% | 0.77% | 0.77% | 10/01/2002 |
| Small-Cap Blend Index | -10.06% | -4.75% | 2.13% | -- | 8.39% | 0.42% | 0.35% | 10/01/2002 |
| Small-Cap Equity | -8.57% | -6.06% | 1.17% | -- | 8.04% | 0.78% | 0.78% | 10/01/2002 |
| Social Choice Equity** | -6.17% | -4.57% | 1.70% | -- | 6.00% | 0.46% | 0.46% | 10/01/2002 |
| S&P 500 Index | -7.11% | -5.66% | 0.70% | -- | 4.89% | 0.31% | 0.31% | 10/01/2002 |
| Fixed Income | ||||||||
| Bond** | 9.64% | 5.26% | -- | -- | 5.52% | 0.57% | 0.57% | 03/31/2006 |
| Bond Index | -- | -- | -- | -- | 11.18% | 0.48% | 0.38% | 09/14/2009 |
| Bond Plus | 9.39% | 3.87% | -- | -- | 4.33% | 0.63% | 0.60% | 03/31/2006 |
| High-Yield | 18.54% | 5.31% | -- | -- | 5.28% | 0.69% | 0.65% | 03/31/2006 |
| Inflation-Linked Bond*** | 4.33% | 4.85% | -- | -- | 5.33% | 0.59% | 0.59% | 03/31/2006 |
| Short-Term Bond | 7.07% | 4.39% | -- | -- | 4.56% | 0.63% | 0.55% | 03/31/2006 |
| Money Market | ||||||||
| Money Market5,** | 0.78% | 3.03% | -- | -- | 3.30% | 0.39% | 0.39% | 03/31/2006 |
| 7-day current annualized yield 0.01% as of 11/05/2009 7-day effective annualized yield 0.01% as of 11/05/2009 |
||||||||
| Asset Allocation | ||||||||
| Managed Allocation6 | 1.39% | -1.34% | -- | -- | -0.54% | 0.77% | 0.71% | 03/31/2006 |
| Real Estate | ||||||||
| Real Estate Securities | -28.95% | -13.92% | -0.66% | -- | 6.90% | 0.81% | 0.81% | 10/01/2002 |
| Lifecycle | ||||||||
| Lifecycle 2010 | 3.36% | 0.08% | -- | -- | 3.17% | 0.87% | 0.66% | 10/15/2004 |
| Lifecycle 2015 | 2.49% | -0.67% | -- | -- | 2.96% | 0.89% | 0.67% | 10/15/2004 |
| Lifecycle 2020 | 1.40% | -1.79% | -- | -- | 2.51% | 0.92% | 0.69% | 10/15/2004 |
| Lifecycle 2025 | 0.08% | -2.77% | -- | -- | 2.09% | 0.94% | 0.70% | 10/15/2004 |
| Lifecycle 2030 | -1.41% | -3.81% | -- | -- | 1.58% | 0.96% | 0.71% | 10/15/2004 |
| Lifecycle 2035 | -1.94% | -4.11% | -- | -- | 1.59% | 0.98% | 0.72% | 10/15/2004 |
| Lifecycle 2040 | -1.91% | -3.82% | -- | -- | 1.98% | 0.95% | 0.72% | 10/15/2004 |
| Lifecycle 2045 | -2.93% | -- | -- | -- | -14.48% | 7.08% | 0.73% | 11/30/2007 |
| Lifecycle 2050 | -4.08% | -- | -- | -- | -14.67% | 8.17% | 0.72% | 11/30/2007 |
| Lifecycle Retirement Income | 4.86% | -- | -- | -- | -3.39% | 2.17% | 0.63% | 11/30/2007 |
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 or shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.
| * | The net annual expense ratio represents expenses after reimbursement and waivers, while the gross annual expense ratio represents expenses without any reimbursements and waivers. These expense reimbursement arrangements will continue through at least April 30, 2010 for the Index Funds and January 31, 2010 for the other Funds (except for the 0.25% service fee that pays for expenses related to offering Retirement Class shares on a retirement or other distribution platform), and can only be changed with approval of the Board of Trustees. Without these waivers and reimbursements, the Fund expenses would be higher and their performance would have been lower. The annual expenses include the fees of the underlying funds in which Lifecycle Funds invest. These underlying fund expenses are 0.30% for the Lifecycle 2010 Fund, Lifecycle 2015 Fund and Lifecycle 2025 Fund and 0.31% for the other Lifecycle Funds. Since the Lifecycle Funds implemented new target allocations on Jan. 17, 2007, the underlying fund expense shown is based on the new allocations. Without expense reimbursements for each Lifecycle fund and various reimbursements for certain underlying funds, the Fund expenses would have been higher and their performance would have been lower. Teachers Advisors, Inc. has contractually agreed to waive its 0.10% management fee on each Lifecycle Fund through at least January 31, 2010. In addition, Advisors has contracted to reimburse the Funds for all of the "Other Expenses" of the Retirement Class (except for the 0.25% fee for services provided in connection with the offering of this class on retirement platforms) through April 30, 2010 for the index funds and January 31, 2010 for the other funds. As noted previously, the Lifecycle Fund's expenses have been restated to reflect the new investment management agreement as well as the effect of the commencement of operations of the new Institutional class of the Lifecycle Funds on Jan. 17, 2007. |
| ** | The fund's Institutional Class began operations on July 1, 1999. Performance shown prior to the inception of the Retirement Class is based on the performance of the 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. |
| *** | The fund's Institutional Class began operations on October 1, 2002. Performance shown prior to the inception of the Retirement Class is based on the performance of the 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. |
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc. 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. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products are not FDIC insured, may lose value, and are not guaranteed.
© 2009 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
