Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

ClearBridge Variable Small Cap Growth Portfolio - Class 1

Seeks long-term growth of capital by investing at least 80% of assets in equity securities of companies with small market capitalizations and related investments.

Unit value as of 12/19/2014 : $30.08
Total return year-to-date as of 12/19/2014 : 3.29%
Expense charge 1 : 1.43%
Fund inception date : 02/05/2008
Inception date : 02/05/2008
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
ClearBridge Variable Small Cap Growth Portfolio - Class 1 $30.08 + 0.43% 3.29% 4.87% 20.41% 18.69% -- 11.08%
Russell 2000® Growth Index 2 -- + 0.33% 5.11% 4.66% 18.89% 18.04% -- 10.29%

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 this fund is subject to include stock market and equity securities risk, small capitalization company risk, liquidity risk, growth investing risk, portfolio selection risk, issuer risk, and risk of increase in expenses.

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

1.
Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 1.63%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower. The unit value reflects the election of the Guaranteed Minimum Death Benefit. See the prospectus for additional information.

The ClearBridge Variable Small Cap Growth Portfolio was formally known as the Legg Mason ClearBridge Variable Small Cap Growth Portfolio.
2.
The Russell 2000® Growth Index measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000 Index companies with higher price-to-value ratios and higher forecasted growth values. You cannot invest directly in this index. Russell 2000 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. Intelligent Variable 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