TIAA-CREF Funds - Retail Class

Tax-Exempt Bond  (TIXRX)

The fund seeks a high level of current income that is exempt from regular federal income tax, consistent with preservation of capital.

Net asset value as of 11/26/2014 : $10.82
Total return year-to-date as of 11/26/2014 : 5.90%
Fund's net invested assets as of 09/30/2014 : $341.80 million
Gross Expense Ratio : 0.63%
Net Expense Ratio : 0.63%
Inception date : 03/31/2006
Investment class : Fixed Income

As of 11/25/2014 : 30-day SEC Yield 1 : 1.38%
Performance Comparison
  Performance Data
as of 11/26/2014
Average Annual Total Returns
as of 10/31/2014
  Net Asset
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Tax-Exempt Bond $10.82 + 0.10% 5.90% 4.88% 3.56% 4.37% -- 4.43%
Barclays 10-Year Municipal Bond Index 2 -- + 0.09% 8.02% 7.08% 5.04% 5.73% -- 5.56%

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 shares, 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.

1.
The fund's 30-day SEC yield is based on yield to maturity of a fund's investments over a 30-day period and not on the dividends paid by the fund, which may differ.
2.
The Barclays 10-Year Municipal Bond Index is an unmanaged index. You cannot invest directly in this index.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distributes securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please click here or call 877 518-9161 for a product and the underlying fund prospectuses that contains this and other information. Please read the prospectus carefully before investing. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, and 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