Get help achieving your financial goals.

Get help achieving your financial goals.

TIAA-CREF: Committed to your overall financial well-being Did you know? TIAA was founded in 1918 to provide retirement security to university faculty. TIAA-CREF is a Fortune 100 financial services company and is the leader in the combined public and private K-12 retirement market. 1 We provide a full range of financial services nationwide to 4.1 million individuals in the academic, medical, governmental, research and cultural fields. Financial services include retirement plans, IRAs, mutual funds, annuities, brokerage services, life insurance and 529 college savings plan management. At no additional cost to you, our experienced financial consultants can work with you to understand your particular goals and risk tolerance and balance multiple goals over time. Take the next step Speak with one of our financial consultants: W By phone: Call 800 842-2252, Monday to Friday from 8 a.m. to 10 p.m. and Saturday from 9 a.m. to 6 p.m. (ET). W In person: Visit www.tiaa-cref.org/local to set up a meeting at one of our offices nationwide. Or, visit tiaa-cref.org to use our planning tools. Our financial consultants can help you reach your goals: W Save for retirement at work and on your own (page 4) W Find the right way for you to pay for college (page 5) W Save for major purchases and objectives (page 6) W Insure and safeguard your loved ones against the unexpected (page 7) W Manage your retirement income and expenses (page 8) W Build your legacy with a well-thought-out estate plan (page 9) 1 Source: LIMRA Secure Retirement Institute, Not-for-Profit Market Survey, third-quarter 2014 results. Based on a survey of 16 companies; TIAA-CREF assets by market segment estimated. Market share ranking does not reflect current investment performance. Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 1

Save for major purchases, objectives Brokerage Services Mutual Funds Managed Accounts* Help insure and safeguard your loved ones Term Life Insurance Permanent Life Insurance Universal Life Variable Universal Life Survivorship Life A quick review: As a leading provider of a full range of financial services, TIAA-CREF can help you achieve your financial goals. Save for retirement Your Employer s Retirement Plan (Workplace and Supplemental Plans) IRAs (Traditional, Roth, SEP and SIMPLE) After-Tax Annuities Brokerage Services Mutual Funds Managed Accounts* Retirement Account Consolidation Manage retirement income, expenses Flexible Income Options IRA Rollover Services After-Tax Annuities Build your legacy Trust Services* Life Insurance The products and services referenced above are offered by various entities within the TIAA-CREF group of companies. * Subject to account minimums Save for education 529 College Savings Plans Coverdell Education Savings Account Specialized Custodial Accounts (UGMA, UTMA) 2 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 3

Save for retirement at work and on your own. One of our experienced financial consultants can help determine if you need to supplement employer contributions to your workplace retirement plan, including: At work Making automatic contributions from your paycheck to your employer s retirement plan or a supplemental retirement plan. Contributing, if eligible, to a Retirement Healthcare Plan to help cover healthcare expenses in retirement. Beyond work Capitalizing on tax-advantaged Traditional IRAs, Roth IRAs and after-tax annuities, along with TIAA-CREF SEP and SIMPLE IRAs for selfemployment income. Investing after-tax savings via TIAA-CREF Brokerage Services, which offers you access to mutual funds, individual stocks, ETFs and more all within a single account. 1 Or work with a dedicated advisor to see if one of our managed account programs is right for you.* It s easy to get started Contact us for a one-on-one consultation. Call 800 842-2252, Monday to Friday from 8 a.m. to 10 p.m. and Saturday from 9 a.m. to 6 p.m. (ET). Or, visit www.tiaa-cref.org/local to set up a meeting at one of our offices nationwide. Find the right way to pay for college. Discuss with one of our financial consultants which investment choices make sense for you, including: Investing in a 529 college savings plan, where any earnings can grow tax deferred at both a federal and state level. Withdrawals are tax free if used for qualified higher education expenses. To learn more, visit www.tiaa-cref.org/ educationsavings. 2 Setting money aside on a tax-deferred basis for K 12 and college with a Coverdell Education Savings Account. Opening a mutual fund account in your child s name through a custodial account, also known as Uniform Transfer to Minors Act (UTMA) or Uniform Gift to Minors Act (UGMA). Investing after-tax savings in mutual funds or a TIAA-CREF Brokerage Services account, 1 which offers access to a broad array of investment options. 1 Brokerage fees may apply. * Subject to account minimums 2 For withdrawals not used to pay for qualified state and federal higher education expenses, earnings are subject to income taxes at the account owner s rate plus a 10% federal tax penalty. Please consult your tax advisor with any questions. TIAA-CREF Tuition Financing, Inc., Program Manager. 4 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 5

Insure and safeguard your loved ones. You can work with with a financial consultant and insurance representative to come up with a plan tailored to help protect your loved ones.* That plan can include: Save for major purchases and objectives. In addition to retirement planning, one of our experienced financial consultants can help you prioritize your other financial goals, estimate how much each goal is likely to cost, and fit each one into your short-, medium- or long-term investment plans. We can help match your time frame to the right investments. TIAA-CREF offers a full range of low-cost* mutual funds, and fixed and variable annuities and access to a wide range of investments through a retail Brokerage Services account. Also available to you are our Managed Account programs, where our professionals tailor your portfolio based on your personal needs and goals. Take action today. A TIAA-CREF financial consultant can help you define goals, discuss the suitability of products to address your financial needs, and make informed decisions. * Applies to mutual fund and variable annuity expense ratios. Source: Morningstar Direct, September 30, 2014. The expense ratio on all mutual fund products and variable annuity accounts managed by TIAA-CREF is generally less than half the mutual fund industry average. 69% are less than half their respective Morningstar Universe average and 58% are less than half their respective Morningstar Universe median. Our mutual fund and variable annuity products are subject to various fees and expenses, including but not limited to management, administrative and distribution fees; our variable annuity products have an additional mortality and expense risk charge. 6 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local Helping you make sure you have enough life insurance Term life insurance provides coverage for a specific period of time. For the lowest initial cost, consider annual renewable term life. For premiums that are guaranteed not to increase for a set period of time, consider level term life. Considering life insurance that also helps you save Permanent life insurance provides a death benefit as well as the potential to build cash value on a tax-deferred basis.** TIAA-CREF offers a selection of permanent life policies to help meet different kinds of needs. Need help? Contact us for help applying for a life insurance policy, or opening a mutual fund or Brokerage Services account with TIAA-CREF. Exclusions, restrictions, limitations, and reductions in benefits will, in certain situations, apply to your life insurance policy. Annuity contracts contain terms for keeping them in force and may have surrender charges. For full details, including costs, call us. * All solicitations pertaining to a contract for insurance may only be handled by an agent or broker licensed to engage in the business of insurance in the state in which you reside. ** Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59 ½, may be subject to an additional 10% federal income tax penalty. Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 7

Manage your retirement income and expenses. If you re thinking seriously about retiring or changing to part-time work over the next 5 to 10 years or even sooner, our financial consultants can help you figure out how much income you ll need and how to help provide it through your different sources of income. Choose the best way to receive income. TIAA-CREF offers a wide array of income options, and we can help you build flexibility into your withdrawal plan that will allow you to adjust your income as circumstances change while maintaining a diversified portfolio. Keep in mind TIAA-CREF s low-cost annuities that enable you to create an income stream of lifetime payments.* Manage your spending and investments. To keep track of spending and investments, look into a cash management account through TIAA-CREF Brokerage Services. Features may include unlimited check writing, a consolidated statement, a MasterCard debit card, expense tracking and investment cost-basis tracking. Take the next step. Contact us to help you set up a retirement income annuity, IRA rollover,** cash management or trust account with TIAA-CREF. Build your legacy with a well-thought-out estate plan. If you ve accumulated assets and want to pass them on to your children or grandchildren, charitable organizations or other beneficiaries, you ll need an estate plan. Depending on your financial situation, we can help support that plan in one or more of the following ways: Coordinate distribution of assets Minimize taxes and expenses Work with your attorney on administering any trusts Analyze the role of life insurance in paying for any estate taxes * Based on the claims-paying ability of TIAA. ** Prior to consolidating assets, you should carefully consider your other available options. You may also be able to leave money in your current plan, roll over money to an IRA, or cash out all or part of the account value. You should weigh each option carefully and its advantages and disadvantages, including desired investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and your unique financial needs and retirement plan. You should seek the guidance of your financial professional and tax advisor prior to consolidating assets. 8 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local To learn more Call today and ask for help setting up a trust, estate plan or life insurance policy with TIAA-CREF. TIAA-CREF does not provide tax or legal advice. You should seek advice about your particular circumstances from your personal tax or legal advisor. Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 9

Our consultative approach TIAA-CREF takes a disciplined, five-step consultative approach to creating your investing strategy. Five steps to help you reach your goals 3 The TIAA-CREF difference At TIAA-CREF, we always stay focused on your financial needs. Our commitment to your overall financial well-being includes: Our consultative approach. Our experienced financial consultants can help you develop and implement a personalized investment strategy. Low costs. 1 We keep operating costs low on mutual fund products and variable annuity accounts managed by TIAA-CREF, charging generally less than half the industry average, as measured by Morningstar Direct. A wide array of investments with attractive historical track records. 2 Among them, TIAA-CREF variable annuity accounts and mutual funds. A commitment to striving for growth over the long term. At TIAA-CREF, we don t play to the whims of the market. Instead, we think long term and are committed to helping you meet your goals. Leadership you can count on since 1918. TIAA-CREF has been a leader in corporate governance for many years long before these issues moved into the mainstream. TIAA-CREF can help you look at your total financial picture, including offering advice on specific asset allocations of mutual funds and annuities in your employer sponsored retirement plan. 3 We can also help you figure out how much you should be saving for retirement, relative to your age and projected retirement date. TIAA-CREF also offers Managed Accounts programs 4 for our participants looking for professional management driven by their investment objectives and goals. Our investment professionals take a disciplined and personalized approach to managing your portfolios. 1 Applies to mutual fund and variable annuity expense ratios. Source: Morningstar Direct, September 30, 2014. The expense ratio on all mutual fund products and variable annuity accounts managed by TIAA-CREF is generally less than half the mutual fund industry average. 69% are less than half their respective Morningstar Universe average and 58% are less than half their respective Morningstar Universe median. Our mutual fund and variable annuity products are subject to various fees and expenses, including but not limited to management, administrative and distribution fees; our variable annuity products have an additional mortality and expense risk charge. 2 Past performance does not guarantee future results. 3 Provided by Ibbotson Associates, a wholly owned subsidiary of Morningstar Inc., and independent third-party asset allocation provider, on your retirement plan assets. 4 Subject to account minimums. 10 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 11

Take the next step. Our experienced financial consultants can work with you to help achieve your financial goals. By phone Call us at 800 842-2252 to speak with one of our experienced financial consultants. They are available Monday to Friday from 8 a.m. to 10 p.m. and Saturday from 9 a.m. to 6 p.m. (ET). Online Visit us at tiaa-cref.org to explore the many ways that we can serve your financial needs. To send an email message to us, just click Contact Us at the top of the home page. In person With more than 100 offices throughout the United States, you ll get the personal service you seek from an experienced TIAA-CREF Financial Consultant. Visit www.tiaa-cref.org/local for more information. 12 Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local Get started. Call 800 842-2252 or visit www.tiaa-cref.org/local 13

You can interact with TIAA-CREF through social media: myretirement.org The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Regarding mutual funds and variable products, consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 for product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. Consider the investment objectives, risks, charges and expenses before investing in any of the TIAA-CREF Tuition Financing, Inc. managed 529 College Savings Plans. Please call 888 381-8283 for a Disclosure Booklet containing this and other information. Read it carefully. Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state s 529 plan. Account value in the Investment Options of 529 plans is not guaranteed and will fluctuate based upon a number of factors, including general market conditions. TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit tiaa-cref.org. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, 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. Insurance products and after-tax annuities are issued by TIAA-CREF Life Insurance Co., New York, NY. TIAA-CREF Trust Company, FSB provides trust services. Brokerage services are offered through TIAA-CREF Brokerage Services, which is a division of TIAA-CREF Individual & Institutional Services, LLC, member FINRA/SIPC. Advisory services are provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser. Each of the foregoing is solely responsible for its own financial condition and contractual obligations. 2015 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017 C20850 141005669 A11455 (12/14)