Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

Neuberger Berman AMT Large Cap Value Portfolio-Class I

Seeks growth of capital by mainly investing in common stocks of mid-to -large capitalization companies. The Portfolio seeks to reduce risk by diversifying among many companies and industries.

Unit value as of 08/20/2014 : $24.89
Total return year-to-date as of 08/20/2014 : 6.71%
Expense charge 1 : 1.74%
Inception date : 02/05/2008
Investment class : U.S. Equity
Performance Comparison
  Performance Data
as of 08/20/2014
Average Annual Total Returns
as of 07/31/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Neuberger Berman AMT Large Cap Value Portfolio-Class I $24.89 + 0.44% 6.71% 14.93% 11.56% 12.98% -- 4.08%
Russell 1000® Value Index 2 -- + 0.27% 9.15% 15.47% 17.56% 16.97% -- 7.13%

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 volatility risk, market capitalization risk, value investing risk, issuer-specific risk, sector risk, foreign risk, arbitrage risk, currency risk, and recent market conditions risk.

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 1.94%. 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.
2.
The Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 Value Index is a registered trademark of the Frank Russell Company. Our funds 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, member FINRA, distributes 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