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Intelligent Variable Annuity

Calamos Growth & Income Portfolio

Seeks high long-term total return through growth and current income by investing primarily in a diversified portfolio of convertible, equity and fixed-income securities.

Unit value as of 03/17/2010 : $14.95
Total return year-to-date as of 03/17/2010 : 2.08%
Expense charge 1 : 1.79%
Inception date : 02/05/2008
Investment class : Balanced
Financial Performance
  Performance Data
as of 03/17/2010
Average Annual Total Returns
as of 02/28/2010
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Calamos Growth & Income Portfolio $14.95 + 0.40% 2.08% 46.71% -- -- -- 0.32%

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.
Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 1.99%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower. 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. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please click here or call 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 bank guaranteed.

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