CREF Variable Annuity

CREF Money Market Account (R1)

1QCMMRX

Unit Value

 

Day's Change

 

Portfolio Net Assets

 

Estimated
Expense Charge

 
Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results.

The Account’s total annual expense deduction appears in the Account's prospectus, and may be different than that shown herein due to rounding. Please refer to the prospectus for further details.
 
 

7-Day Current / Effective Ann. Yield

 
The current yield more closely reflects current earnings than does the total return.

7-Day Current Annualized Yield – A simple interest calculation. A measure of return that divides average net income received over a 7-day period by the average balance in your account and multiplies the result by 365 to get an annual equivalent. This measure reflects income actually received over the last 7 days and differs from Effective Annualized Yield in that it does not reflect compounding.

7-Day Effective Annualized Yield – A compound interest calculation. A measure of return that compounds the 7-Day Current Yield to an annual figure. This measure assumes that dividends are reinvested and that an investor will earn the 7-Day Yield for an entire year. It also reflects interest earned on interest, or compounded interest.
 
 

52 Week Range

$25.5338
 
0.0000 (0.00%)
 
$11.49B
 
0.64%
 
0.00% / 0.00%
 
$25.5337 - $25.5338
As of close 02/05/2016As of 01/31/2016As of 02/05/2016
02/09/2015
 
 
 
07/20/2015

Management Team

Michael Ferraro, CFADirector, Global Public Markets
Biography

Michael Ferraro is a director and a fixed income portfolio manager for the TIAA-CREF organization. Mr. Ferraro manages money market investments. He joined the TIAA-CREF organization in 1998.Mr. Ferraro has 35 years of experience in insurance and investments, including work at MBL Life Assurance Corp.Mr. Ferraro earned a B.A. in English from Montclair State University and an M.B.A. in finance from Fairleigh Dickinson University. He is a member of the CFA Institute, the Association for Financial Professionals, the Life Management Institute, and the New York Society of Securities Analysts.

 
Joseph RolstonDirector
Biography

Joseph Rolston is a director and a fixed income portfolio manager for the TIAA-CREF organization. Mr. Rolston manages short-term investments for the TIAA-CREF organization. In addition, Mr. Rolston supervises the organization's securities lending program. He joined the TIAA-CREF organization in 1984 as securities analyst focusing on short-term investments and was integral to the development and implementation CREF Money Market Account.Mr. Rolston has 29 years of experience in insurance and investments, including work at Union Labor Life Insurance Company.Mr. Rolston earned a B.S. degree in economics and finance from Manhattan College and an MS degree in finance from Pace University.

As of April 24, 2015, additional classes of CREF Accounts are available with different eligibility requirements. Please visit the account’s prospectus at tiaa-cref.org for more information.
Beginning July 16, 2009, TIAA withheld a portion of the distribution Rule 12b-1 and as necessary, administrative expenses for the Money Market Account. TIAA will end the voluntary withholding of expenses by April 14, 2017, and any amounts waived by TIAA within the three year period prior to termination of the waiver may be subject to recoupment by TIAA. TIAA may recover from the Account a portion of the amounts waived at such time as the Class's daily yield would be positive absent the effect of the waiver, and in such event the amount of recovery on any day will be approximately 25% of the class's yield (net of all expenses) on that day. As a result of the share class conversion on April 24, 2015, previously recoverable amounts have been allocated to the newly formed Classes. For more information on the pending termination of the voluntary waiver please see the Account's prospectus.

An investment in the CREF Money Market Account is not a deposit of any bank and is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other U.S. government agency. It is possible to lose money in this Account. The current yield more closely reflects the account's current earnings than does the total return.

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