1Morningstar ratings based on the lowest cost share class (Institutional Share Class) for each mutual fund, based on U.S. open-end mutual funds.
For a fund with multiple share classes and the same pricing, the share class with the longest performance history is used. Morningstar ratings may
be higher or lower on a monthly basis. Morningstar is an independent service that rates mutual funds. The top 10% of funds in an investment
category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. Morningstar proprietary ratings reflect historical
risk-adjusted performance and can change every month. They are calculated from the fund’s three-, five- and ten-year average annual returns in
excess of 90-day Treasury bill returns with appropriate fee adjustments, and a risk factor that reflects fund performance below 90-day T-bill returns.
The overall star ratings are Morningstar’s published ratings, which are weighted averages of its three-, five- and ten-year ratings for periods ended
September 30, 2014. Past performance cannot guarantee future results. For current performance and rankings, please visit www.tiaa-cref.org/
public/tcfpi/InvestResearch. 2The Lipper Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for
eligible funds over the three-year period ended 11/30/12 and 11/30/13, respectively. TIAA-CREF was ranked against 36 fund companies in 2012
and 48 fund companies in 2013 with at least five equity, five bond, or three mixed-asset portfolios. TIAA-CREF Individual & Institutional Services,
LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity
contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF),
Please note Lifecycle Funds are subject to the equity and fixed income risk, as well as asset allocation
risk. The target date for Lifecycle Funds is the approximate date when investors plan to start
withdrawing their money. The principal value of the fund(s) is not guaranteed at any time, including at
the target date. TIAA-CREF has 24 Lifecycle Funds (12 actively managed funds and 12 index funds).
The Morningstar category for Lifecycle Funds is named Target Date and Morningstar groups funds
within the same target date in compiling its individual fund rankings.
Consider investment objectives, risks, charges and expenses carefully
before investing. Go to tiaa-cref.org for product and fund prospectuses
that contain this and other information. Read carefully before investing.
TIAA-CREF funds are subject to market and other risk factors.
OUR TARGET DATE
AT THE BOTTOM OF THE LIST.
Expenses for all of our target date funds are in the bottom
decile. 1 That goes for both our index and actively managed
Lifecycle Funds. What’s more, 100% of our Lifecycle
Funds have overall Morningstar® ratings of four and five
stars ( 5 stars – 27%, 4 stars – 73%) as of 9/30/14.
Get low-cost active and index target date funds.
Learn more at TIAA.org/AssetManagement
The Lipper Awards are based on a review
of 36 companies’ 2012 and 48 companies’
2013 risk-adjusted performance.
BEST OVERALL LARGE FUND COMPANY2