TIAA-CREF Funds - Retirement Class

Lifecycle 2020 (TCLTX )

The 2020 Fund seeks high total return over time through a combination of capital appreciation and income.

Net Asset Values: 30 days

Net asset value as of 03/19/2010 : $10.21
Total return year-to-date as of 03/19/2010 : 3.24%
Fund's net invested assets as of 12/31/2009 : $564.54 million
Gross Expense Ratio : 0.93%
Net Expense Ratio 1 : 0.67%
Inception date : 10/15/2004
Investment class : Lifecycle

Performance Comparison
	Performance Data as of 03/18/2010			Average Annual Total Returns as of 02/28/2010
	Net Asset Values	Net Change	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception 2
Lifecycle 2020	$10.26	-0.19%	3.74%	40.21%	-2.87%	1.65%	--	2.84%
2020 Fund Composite Index 3	--	--	3.61%	39.32%	-2.51%	2.14%	--	3.23%

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 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.

In addition to asset allocation risk, the fund is subject to the risks associated with the types of securities held by each of its underlying funds. For equity securities, these risks include market risk, company risk, foreign investment risks, growth investing risks, value investing risks, style risk, large-cap risk, small-cap/mid-cap risk, reorganization risk and real estate securities risk. For fixed-income securities, these risks include interest-rate risk, income volatility risk, credit risk, prepayment risk, extension risk and the risks of inflation-indexed bonds. The fund’s overall risk level should gradually decline as the target allocation shifts more toward fixed income with the approach of the year 2020. For a more complete discussion of these and other risks, please consult the prospectus.

The Net Expense Ratio includes fees for the Lifecycle Funds and fees for the underlying funds; each Lifecycle fund indirectly bears its pro rata share of the fees and expenses incurred by the underlying funds. The net annual expense charge reflects a contractual fee waiver and reimbursement of certain expenses by the fund's adviser through January 31, 2010. The reimbursement does not cover the fee for services provided in connection with the offering of this class on retirement platforms. See the current prospectus for information on expenses.

From November 30, 2007 on, the since inception performance shown is computed from the inception date of the fund (the date on which the fund became publicly available). Previously, since inception performance for this fund was computed from the net asset value per share on the day prior to the inception date.

The fund's benchmark is a weighted average of the benchmarks for each of the underlying funds in which the fund invests. The fund's target allocations to each underlying fund will change as the fund approaches its target retirement date, and the benchmark weightings will change accordingly.

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.

TIAA-CREF Funds - Retirement Class

Lifecycle 2020 (TCLTX )

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