Investment Menu and Transfer Strategy Investment Menu Effective February 9, 2015, all of your TIAA-CREF and Vanguard options within the University of Pittsburgh Retirement Savings Plan will be consolidated with one retirement provider. All of the TIAA CREF and Vanguard options will remain available, and many will automatically transfer to a lower-cost share class, which will reduce your expenses. Additionally, the University is offering several new investment options. These choices offer you the flexibility to create a retirement portfolio that s aligned with your preferences and goals. See details on the new investment options online at www.tiaa-cref.org/pitt. Click on Plans & Investments and then select Investment Choices to view the individual investment information. One-Step Investing Multi-Asset Funds A single-fund simplified approach to retirement investing. You may select a TIAA-CREF Lifecycle or Vanguard Target Retirement Fund by providing your target retirement date. Your contributions will be allocated to the fund with the target date closest to your anticipated retirement date/age. Your asset mix will be managed and rebalanced in the fund toward more conservative investments as you approach the fund s target date. As with all mutual funds, the principal value in a Lifecycle or a Target Date Fund is not guaranteed. The target date is an approximate date when investors may plan to begin withdrawing from the fund. However, there is no need to withdraw the funds at that target date.* You may also choose a LifeStrategy Fund, in which case your investment mix/fund is determined by the risk tolerance you select. *Lifecycle or Target Date Funds share the risks associated with the types of securities held by each of the underlying funds in which they invest. In addition to the fees and expenses associated with the Lifecycle Funds, there is exposure to the fees and expenses associated with the underlying mutual funds as well. TICKER FUND NAME SHARE CLASS SUBCATEGORY TCTIX TIAA-CREF Lifecycle 2010 Fund Multi-Asset TCNIX TIAA-CREF Lifecycle 2015 Fund Multi-Asset TCWIX TIAA-CREF Lifecycle 2020 Fund Multi-Asset TCYIX TIAA-CREF Lifecycle 2025 Fund Multi-Asset TCRIX TIAA-CREF Lifecycle 2030 Fund Multi-Asset TCIIX TIAA-CREF Lifecycle 2035 Fund Multi-Asset TCOIX TIAA-CREF Lifecycle 200 Fund Multi-Asset TTFIX TIAA-CREF Lifecycle 205 Fund Multi-Asset TFTIX TIAA-CREF Lifecycle 2050 Fund Multi-Asset TTRIX TIAA-CREF Lifecycle 2055 Fund Multi-Asset TLXNX TIAA-CREF Lifecycle 2060 Fund Multi-Asset
TICKER FUND NAME SHARE CLASS SUBCATEGORY TLRIX TIAA-CREF Lifecycle Retirement Income Multi-Asset VSCGX Vanguard LifeStrategy Conservative Growth Fund Multi-Asset VASGX Vanguard LifeStrategy Growth Fund Multi-Asset VASIX Vanguard LifeStrategy Income Fund Multi-Asset VSMGX Vanguard LifeStrategy Moderate Growth Fund Multi-Asset VTENX Vanguard Target Retirement 2010 Fund Multi-Asset VTXVX Vanguard Target Retirement 2015 Fund Multi-Asset VTWNX Vanguard Target Retirement 2020 Fund Multi-Asset VTTVX Vanguard Target Retirement 2025 Fund Multi-Asset VTHRX Vanguard Target Retirement 2030 Fund Multi-Asset VTTHX Vanguard Target Retirement 2035 Fund Multi-Asset VFORX Vanguard Target Retirement 200 Fund Multi-Asset VTIVX Vanguard Target Retirement 205 Fund Multi-Asset VFIFX Vanguard Target Retirement 2050 Fund Multi-Asset VFFVX Vanguard Target Retirement 2055 Fund Multi-Asset VTTSX Vanguard Target Retirement 2060 Fund Multi-Asset VTINX Vanguard Target Retirement Income Fund Multi-Asset Actively Managed Funds and Investments Actively managed funds aim to outperform the market through the active management of the portfolios and through the experience of the funds portfolio managers. It s not uncommon for actively managed funds to have a slightly higher expense ratio (i.e., higher fees) than passively managed (index) funds. TICKER FUND/ACCOUNT NAME SHARE CLASS SUBCATEGORY N/A CREF Bond Market Account Variable Annuity Fixed Income N/A CREF Global Equities Account Variable Annuity Equities N/A CREF Growth Account Variable Annuity Equities N/A CREF Inflation-Linked Bond Account Variable Annuity Fixed Income N/A CREF Money Market Account Variable Annuity Money Market N/A CREF Social Choice Account Variable Annuity Multi-Asset
TICKER FUND/ACCOUNT NAME SHARE CLASS SUBCATEGORY N/A CREF Stock Account Variable Annuity Equities N/A TIAA Real Estate Account Variable Annuity Real Estate TNRIX TIAA-CREF Global Natural Resources Fund Equities TIGRX TIAA-CREF Growth & Income Fund Equities TIHYX TIAA-CREF High-Yield Fund Fixed Income TIIEX TIAA-CREF International Equity Fund Equities TRLIX TIAA-CREF Large-Cap Value Fund Equities TRPWX TIAA-CREF Mid-Cap Growth Fund Equities TIMVX TIAA-CREF Mid-Cap Value Fund Equities TIREX TIAA-CREF Real Estate Securities Fund Equities TISEX TIAA-CREF Small-Cap Equity Fund Equities TSBIX TIAA-CREF Social Choice Bond Fixed Income TISCX TIAA-CREF Social Choice Equity Fund Equities VHCAX Vanguard Capital Opportunity Fund Admiral Equities VCVLX Vanguard Capital Value Fund Equities VCVSX Vanguard Convertible Securities Fund Equities VDEQX Vanguard Diversified Equity Fund Equities VDIGX Vanguard Dividend Growth Fund Equities VMMSX Vanguard Emerging Markets Select Stock Fund Equities VGELX Vanguard Energy Fund Admiral Equities VEIRX Vanguard Equity Income Fund Admiral Equities VEXRX Vanguard Explorer Fund Admiral Equities VEVFX Vanguard Explorer Value Fund Equities VMFXX Vanguard Federal Money Market Fund Money Market VHGEX Vanguard Global Equity Fund Equities VFIJX Vanguard GNMA Fund Admiral Fixed Income VGIAX Vanguard Growth & Income Fund Admiral Equities VGHAX Vanguard Health Care Fund Admiral Equities
TICKER FUND/ACCOUNT NAME SHARE CLASS SUBCATEGORY VWEAX Vanguard High-Yield Corporate Fund Admiral Fixed Income VIPIX Vanguard Inflation-Protected Securities Fund Fixed Income VFIDX Vanguard Intermediate-Term Investment Grade Fund Admiral Fixed Income VFIUX Vanguard Intermediate-Term Treasury Fund Admiral Fixed Income VINEX Vanguard International Explorer Fund Equities VWILX Vanguard International Growth Fund Admiral Equities VTRIX Vanguard International Value Fund Equities VWETX Vanguard Long-Term Investment-Grade Fund Admiral Fixed Income VUSUX Vanguard Long-Term Treasury Fund Admiral Fixed Income VMGRX Vanguard Mid-Cap Growth Fund Equities VMRAX Vanguard Morgan Growth Fund Admiral Admiral Equities VGPMX Vanguard Precious Metals and Mining Fund Equities VMRXX Vanguard Prime Money Market Fund Money Market VPCCX Vanguard PRIMECAP Core Fund Equities VPMAX Vanguard PRIMECAP Fund Admiral Equities VASVX Vanguard Selected Value Fund Equities VSGDX Vanguard Short-Term Federal Fund Admiral Fixed Income VFSIX Vanguard Short-Term Investment-Grade Fund Fixed Income VFIRX Vanguard Short-Term Treasury Fund Admiral Fixed Income VGSTX Vanguard STAR Fund Multi-Asset VSEQX Vanguard Strategic Equity Fund Equities VSTCX Vanguard Strategic Small-Cap Equity Fund Equities VWUAX Vanguard U.S. Growth Fund Admiral Equities VUVLX Vanguard U.S. Value Fund Equities VWIAX Vanguard Wellesley Income Admiral Admiral Multi-Asset VWENX Vanguard Wellington Fund Admiral Admiral Multi-Asset VWNEX Vanguard Windsor Fund Admiral Admiral Equities VWNAX Vanguard Windsor II Fund Admiral Admiral Equities
Passively Managed Funds and Investments Passively managed funds, generally also known as index funds, aim to track the returns of their respective market index. For example, the TIAA-CREF S&P 500 Index Fund and the Vanguard 500 Index Fund aim to generate an overall rate of return close to the Standard and Poor s 500 Index. Underlying investments in index funds are fairly static, which often results in slightly lower expense ratios (i.e., lower fees) than actively managed funds. TICKER FUND/ACCOUNT NAME SHARE CLASS SUBCATEGORY N/A CREF Equity Index Account Variable Annuity Equities TBIIX TIAA-CREF Bond Index Fund Fixed Income TEQLX TIAA-CREF Emerging Markets Equity Index Fund Equities TLIIX TIAA-CREF Enhanced Large-Cap Growth Index Fund Equities TEVIX TIAA-CREF Enhanced Large-Cap Value Index Fund Equities TIEIX TIAA-CREF Equity Index Fund Equities TCIEX TIAA-CREF International Equity Index Fund Equities TISPX TIAA-CREF S&P 500 Index Fund Equities VUSXX Vanguard Admiral Treasury Money Market Fund Admiral Money Market VBAIX Vanguard Balanced Index Fund Multi-Asset VTMGX Vanguard Developed Markets Index Fund Admiral Equities VDADX Vanguard Dividend Appreciation Index Fund Admiral Equities VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Fixed Income VEMIX Vanguard Emerging Markets Stock Index Fund Equities VESIX Vanguard European Stock Index Fund Equities VIEIX Vanguard Extended Market Index Fund Equities VFWAX Vanguard FTSE All-World ex-us Index Fund Admiral Equities VFSVX Vanguard FTSE All-World ex-us Small-Cap Index Fund Equities VFTSX Vanguard FTSE Social Index Fund Equities VIGIX Vanguard Growth Index Fund Equities VHDYX Vanguard High Dividend Yield Index Fund Equities VINIX Vanguard Index Fund Equities VBIMX Vanguard Intermediate-Term Bond Index Fund Fixed Income VLCAX Vanguard Large-Cap Index Fund Admiral Equities
TICKER FUND/ACCOUNT NAME SHARE CLASS SUBCATEGORY VBLLX Vanguard Long-Term Bond Index Fund Fixed Income VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Equities VMCIX Vanguard Mid-Cap Index Fund Equities VMVAX Vanguard Mid-Cap Value Index Fund Admiral Equities VPADX Vanguard Pacific Stock Index Fund Admiral Equities VGSNX Vanguard REIT Index Fund Equities VBITX Vanguard Short-Term Bond Index Fund Fixed Income VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Fixed Income VSGIX Vanguard Small-Cap Growth Index Fund Equities VSCIX Vanguard Small-Cap Index Fund Equities VSIIX Vanguard Small-Cap Value Index Fund Equities VBTIX Vanguard Total Bond Market Index Fund Fixed Income VTABX Vanguard Total International Bond Index Fund Admiral Fixed Income VTSNX Vanguard Total International Stock Index Fund Equities VITSX Vanguard Total Stock Market Index Fund Equities VTWSX Vanguard Total World Stock Index Fund Equities VVIAX Vanguard Value Index Fund Admiral Equities
Guaranteed Investments Guaranteed investments are generally safe and conservative. These options protect your principal and maintain a minimum guaranteed rate of return. Guarantees are backed by the claims-paying ability of the issuing company. The account can also pay additional amounts above the minimum guaranteed rate, which is known as the floor percentage. NOTE: Certain transfer restrictions and/or surrender charges may apply, so please review the fact sheet before investing.* TICKER NAME SUBCATEGORY N/A TIAA Stable Value Annuity Guaranteed N/A TIAA Traditional Annuity Guaranteed *Any guarantees under annuities issued by TIAA are subject to TIAA s claims-paying ability. TIAA Traditional and TIAA Stable Value are guaranteed insurance contracts and not an investment for federal securities law purposes.
Transfer Strategy How your investments will transfer to the consolidated recordkeeping system. On or about February 9, 2015, your existing assets and/or future contributions to the following mutual funds will be transferred or mapped to the replacement options below. You will see that all of the plan s current investment options will continue to be offered, but many will now be available at a lower cost. Check your most recent quarterly account statement to determine how your current investments will be affected. Current TIAA-CREF participants please note: Your TIAA-CREF existing balances will remain in the existing contracts you currently have unless you elect to transfer those investments to the new Retirement Choice account, while future contributions will be applied to the new Retirement Choice account automatically. Once the transition is complete, you can move your assets and future contributions to other options on the new investment menu. Please visit my.pitt.edu, or contact the Retirement Plan Call Center at 800 682-9139, Monday through Friday, 8 a.m. to 10 p.m., or Saturday, 9 a.m. to 6 p.m. (ET), to update your account. You can also schedule a one-on-one advice session to review your investment strategy with a TIAA-CREF financial consultant once the transition is complete. TIAA-CREF s investment advice takes the form of specific asset allocation recommendations on mutual funds and annuities, which is provided by Ibbotson Associates, Inc., an independent third-party asset allocation provider. If you have current balances and future contributions directed to these Mutual Fund choices......they will automatically be directed to these investment options effective February 9, 2015. CURRENT INVESTMENT OPTION TICKER REPLACEMENT INVESTMENT OPTION TICKER Vanguard 500 Index Fund Admiral VFIAX Vanguard Index Fund VINIX Vanguard Balanced Index VBINX Vanguard Balanced Index VBAIX Vanguard Capital Opportunity VHCOX Vanguard Capital Opportunity Admiral VHCAX Vanguard Developed Markets Index VDVIX Vanguard Developed Markets Index Admiral VTMGX Vanguard Dividend Appreciation Index Vanguard Emerging Markets Government Bond Index Vanguard Emerging Markets Stock Index VDAIX Vanguard Dividend Apprec Index Admiral VDADX VGOVX VEIEX Vanguard Emerging Markets Government Bond Index Admiral Vanguard Emerging Markets Stock Index VGAVX VEMIX Vanguard Energy VGENX Vanguard Energy Admiral VGELX Vanguard Equity Income VEIPX Vanguard Equity Income Admiral VEIRX Vanguard European Stock Index VEURX Vanguard European Stock Index VESIX Vanguard Explorer VEXPX Vanguard Explorer Admiral VEXRX Vanguard Extended Market Index VEXMX Vanguard Extended Market Index VIEIX Vanguard FTSE All-World ex-u.s. Index VFWIX Vanguard FTSE All-World ex-u.s. Index Admiral VFWAX Vanguard GNMA VFIIX Vanguard GNMA Admiral VFIJX Vanguard Growth & Income VQNPX Vanguard Growth & Income Admiral VGIAX Vanguard Growth Index VIGRX Vanguard Growth Index VIGIX
If you have current balances and future contributions directed to these Mutual Fund choices......they will automatically be directed to these investment options effective February 9, 2015. CURRENT INVESTMENT OPTION TICKER REPLACEMENT INVESTMENT OPTION TICKER Vanguard Health Care VGHCX Vanguard Health Care Admiral VGHAX Vanguard High-Yield Corporate VWEHX Vanguard High-Yield Corporate Admiral VWEAX Vanguard Inflation-Protected Securities Vanguard Intermediate-Term Bond Index Vanguard Intermediate-Term Investment- Grade Vanguard Intermediate-Term Treasury VIPSX VBIIX VFICX VFITX Vanguard Inflation-Protected Securities Vanguard Intermediate-Term Bond Index Vanguard Intermediate-Term Investment- Grade Admiral Vanguard Intermediate-Term Treasury Admiral VIPIX VBIMX VFIDX VFIUX Vanguard International Growth VWIGX Vanguard International Growth Admiral VWILX Vanguard Large-Cap Index VLACX Vanguard Large-Cap Index Admiral VLCAX Vanguard Long-Term Bond Index VBLTX Vanguard Long-Term Bond Index VBLLX Vanguard Long-Term Investment-Grade VWESX Vanguard Long-Term Investment-Grade Admiral VWETX Vanguard Long-Term Treasury VUSTX Vanguard Long-Term Treasury Admiral VUSUX Vanguard Mid-Cap Growth Index VMGIX Vanguard Mid-Cap Growth Index Admiral VMGMX Vanguard Mid-Cap Index VIMSX Vanguard Mid-Cap Index VMCIX Vanguard Mid-Cap Value Index VMVIX Vanguard Mid-Cap Value Index Admiral VMVAX Vanguard Morgan Growth Fund VMRGX Vanguard Morgan Growth Admiral VMRAX Vanguard Pacific Stock Index VPACX Vanguard Pacific Stock Index Admiral VPADX Vanguard Prime Money Market Fund VMMXX Vanguard Prime Money Market VMRXX Vanguard PRIMECAP VPMCX Vanguard PRIMECAP Admiral VPMAX Vanguard REIT Index VGSIX Vanguard REIT Index VGSNX Vanguard Short-Term Bond Index VBISX Vanguard Short-Term Bond Index VBITX Vanguard Short-Term Federal VSGBX Vanguard Short-Term Federal Admiral VSGDX Vanguard Short-Term Inflation-Protected Securities Index Fund Vanguard Short-Term Investment-Grade VTIPX VFSTX Vanguard Short-Term Inflation-Protected Securities Index Admiral Vanguard Short-Term Investment-Grade VTAPX VFSIX Vanguard Short-Term Treasury VFISX Vanguard Short-Term Treasury Admiral VFIRX
If you have current balances and future contributions directed to these Mutual Fund choices......they will automatically be directed to these investment options effective February 9, 2015. CURRENT INVESTMENT OPTION TICKER REPLACEMENT INVESTMENT OPTION TICKER Vanguard Small-Cap Growth Index VISGX Vanguard Small-Cap Growth Index VSGIX Vanguard Small-Cap Index NAESX Vanguard Small-Cap Index VSCIX Vanguard Small-Cap Value Index VISVX Vanguard Small-Cap Value Index VSIIX Vanguard Total Bond Market Index Admiral VBTLX Vanguard Total International Bond Index Vanguard Total International Stock Index Admiral VTIBX VTIAX Vanguard Total Stock Market Index Admiral VTSAX Vanguard Total Bond Market Index Vanguard Total International Bond Index Admiral Vanguard Total International Stock Index Vanguard Total Stock Market Index VBTIX VTABX VTSNX VITSX Vanguard U.S. Growth VWUSX Vanguard U.S. Growth Admiral VWUAX Vanguard Value Index VIVAX Vanguard Value Index Admiral VVIAX Vanguard Wellesley Income VWINX Vanguard Wellesley Income Admiral VWIAX Vanguard Wellington VWELX Vanguard Wellington Admiral VWENX Vanguard Windsor VWNDX Vanguard Windsor Admiral VWNEX Vanguard Windsor II VWNFX Vanguard Windsor II Admiral VWNAX TIAA-CREF Lifecycle 2010 Premier TCTPX TIAA-CREF Lifecycle 2010 TCTIX TIAA-CREF Lifecycle 2015 Premier TCFPX TIAA-CREF Lifecycle 2015 TCNIX TIAA-CREF Lifecycle 2020 Premier TCWPX TIAA-CREF Lifecycle 2020 TCWIX TIAA-CREF Lifecycle 2025 Premier TCQPX TIAA-CREF Lifecycle 2025 TCYIX TIAA-CREF Lifecycle 2030 Premier TCHPX TIAA-CREF Lifecycle 2030 TCRIX TIAA-CREF Lifecycle 2035 Premier TCYPX TIAA-CREF Lifecycle 2035 TCIIX TIAA-CREF Lifecycle 200 Premier TCZPX TIAA-CREF Lifecycle 200 TCOIX TIAA-CREF Lifecycle 205 Premier TTFPX TIAA-CREF Lifecycle 205 TTFIX TIAA-CREF Lifecycle 2050 Premier TCLPX TIAA-CREF Lifecycle 2050 TFTIX TIAA-CREF Lifecycle 2055 Premier TTRPX TIAA-CREF Lifecycle 2055 TTRIX TIAA-CREF Lifecycle Retirement Income Premier TPILX TIAA-CREF Lifecycle Retirement Income TLRIX TIAA-CREF Large-Cap Value Premier TRCPX TIAA-CREF Large-Cap Value TRLIX
If you have current balances and future contributions directed to these Mutual Fund choices......they will automatically be directed to these investment options effective February 9, 2015. CURRENT INVESTMENT OPTION TICKER REPLACEMENT INVESTMENT OPTION TICKER TIAA-CREF International Equity Premier TREPX TIAA-CREF International Equity TIIEX TIAA-CREF Mid-Cap Growth Premier TRGPX TIAA-CREF Mid-Cap Growth TRPWX TIAA-CREF Growth & Income Premier TRPGX TIAA-CREF Growth & Income TIGRX TIAA-CREF Social Choice Equity Premier TRPSX TIAA-CREF Social Choice Equity TISCX TIAA-CREF Real Estate Securities Premier TRRPX TIAA-CREF Real Estate Securities TIREX TIAA-CREF S&P 500 Index Retirement TRSPX TIAA-CREF S&P 500 Index TISPX TIAA-CREF Mid-Cap Value Premier TRVPX TIAA-CREF Mid-Cap Value TIMVX TIAA-CREF Small-Cap Equity Premier TSRPX TIAA-CREF Small-Cap Equity TISEX TIAA Traditional Annuity Future Contributions To Your Supplemental Plan If you have current balances or future contributions directed to TIAA Traditional in the GSRA contract..your existing balance will remain as is, but your future contributions will be directed to TIAA Stable Value CURRENT INVESTMENT OPTION TICKER NEW INVESTMENT OPTION TICKER TIAA Traditional Annuity N/A TIAA Stable Value N/A
Annuity account options are available through annuity contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity and may lose value. Investment products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa-cref.org/pitt for details. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 or go to www.tiaa-cref.org/pitt for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Services, LLC, Teachers Personal s 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), New York, NY. Each is solely responsible for its own financial condition and contractual obligations. 201 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017 C20551 323820_217 (01/15)