Personal Annuity Select from TIAA-CREF Life Insurance Company

Social Choice Equity

The fund seeks a favorable long-term total return that reflects the investment performance of the overall U.S. stock market while giving special consideration to certain social criteria.

Unit value as of 12/19/2014 : $48.7894
Total return year-to-date as of 12/19/2014 : 10.96%
Expense charge 1 : 0.82%
Net invested assets as of 09/30/2014 : $23.25 million
Inception date : 04/03/2000
Investment class : U.S. Equity
Performance Comparison
  Performance Data
as of 12/19/2014
Average Annual Total Returns
as of 11/30/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Social Choice Equity $48.7894 + 0.47% 10.96% 13.40% 18.46% 14.64% 7.64% 4.13%
Russell 3000® Index 2 -- + 0.46% 12.90% 15.53% 20.84% 16.28% 8.32% 4.65%

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

The risks that the fund is subject to include social criteria risk, market risk, company risk, large-cap risk, mid-cap risk, small-cap risk, foreign investment risk, active management risk, and index risk.

For a detailed discussion of risk, please consult the prospectus.

1.
Includes both separate account and fund level charges. A portion of the separate account charges has been waived. The maximum total annual expense charge without the waiver is 1.23%. TIAA-CREF Life will provide at least 3 months notice before it raises these charges.
2.
The Russell 3000® Index measures the performance of the stocks of the 3,000 largest publicly traded U.S. companies, based on market capitalization, and it measures the performance of about 98% of the total market capitalization of the publicly traded U.S. equity market. You cannot invest directly in this index. Russell 3000 is a trademark and service mark of the Frank Russell Company. TIAA-CREF products are not promoted or sponsored by, or affiliated with, the Frank Russell Company. You cannot invest directly in this index.

TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, members FINRA and SIPC, distribute securities products. Personal Annuity Select, a tax deferred annuity, is issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017

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.

© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017