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 07/28/2014 : $10.74
Total return year-to-date as of 07/28/2014 : 4.44%
Fund's net invested assets as of 06/30/2014 : $340.96 million
Gross Expense Ratio : 0.63%
Net Expense Ratio : 0.63%
Inception date : 03/31/2006
Investment class : Fixed Income

As of 07/25/2014 : 30-day SEC Yield 1 : 1.71%
Performance Comparison
  Performance Data
as of 07/28/2014
Average Annual Total Returns
as of 06/30/2014
  Net Asset
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Tax-Exempt Bond $10.74 + 0.01% 4.44% 3.01% 3.88% 4.88% -- 4.39%
Barclays 10-Year Municipal Bond Index 2 -- + 0.03% 6.27% 6.34% 5.50% 6.10% -- 5.52%

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, distribute securities products. Investment products are not FDIC insured, are not bank deposits or bank guaranteed, and may lose value.

© 2013 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017