Intelligent Variable Annuity

Wanger U.S.A.

Seeks long-term capital appreciation. Under normal market circumstances, the Portfolio invests at least 80% of net assets in U.S. companies.

Unit value as of 02/03/2012 : $41.38
Total return year-to-date as of 02/03/2012 : 14.50%
Expense charge 1 : 1.57%
Inception date : 02/05/2008
Investment class : U.S. Equity
Financial Performance
  Performance Data
as of 02/3/2012
Average Annual Total Returns
as of 01/31/2012
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Wanger U.S.A. $41.38 + 2.02% 14.50% 4.34% 25.24% -- -- 4.65%

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. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

Stocks of small and mid-cap stocks may have limited marketability and may be subject to more abrupt or erratic market movements than large-cap stocks.

1.
Includes both separate account and fund level charges. A portion of the separate account charges has been waived. The maximum total annual expense charge without the waiver is 1.77%. TIAA-CREF Life will provide at least 3 months notice before it raises these charges. The unit value reflects the election of the Guaranteed Minimum Death Benefit. See the prospectus for additional information.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. 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 bank guaranteed.

© 2012 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017