Price & Performance

¹Effective January 1, 2020, accumulations (including contributions and earnings) under the Funding Agreement for the Principal Plus Interest Option will be credited to the MAP with an effective annual interest rate of 2.10%, and are guaranteed to earn this rate through December 31, 2020, subject to the claims-paying ability of TIAA- CREF Life Insurance Company.

279484-INV-AN-10/2018

Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns fora period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

Average annual total returns shown "with sales charges" are net of the following: (1) the current annual program management fee of 0.32% of plan portfolio assets; (2) the current annual service fees of 0.25% and distribution fees (Class C only) of 0.75% for age-based and target risk portfolios or 0.40% for individual and multi-fund portfolios; (3) initial sales charges of 4.25% (Class A) or 1.00% CDSC for periods one year or less (Class C); and (4) annual expenses of the share classes of the underlying mutual funds in which Plan portfolios invest, currently up to 0.90% of assets, which may vary. The Principal Plus Interest Portfolio does not charge an initial sales charge nor does it assess an annual sales fee; the Program Management Fee is currently waived for the portfolio. Plan fees, expenses and sales charges are subject to change. Underlying fund expenses will vary and in some cases have been reduced by fee and expense waivers or reimbursements, which may be ended at any time reducing future performance.

537014-INV-AN-06/19

271848-INV-AN-10/2018

296658-INV-AN-10/2018