CREF Variable Annuity Accounts

CREF Money Market

The CREF Money Market Account seeks high current income consistent with maintaining liquidity and preserving capital.

Unit value as of 10/21/2014 : $25.5337
Total return year-to-date as of 10/21/2014 : 0.00%
3-month cumulative rate of return as of 09/30/2014 : 0.00%
Net invested assets as of 09/30/2014 : $11.64 billion
Expense charge 1, 2 : 0.40%
Inception date : 04/01/1988
Investment class : Money Market

As of : 10/21/2014
7-day current annualized yield : 0.00%
7-day effective annualized yield : 0.00%
Performance Comparison
  Performance Data
as of 10/21/2014
Average Annual Total Returns
as of 09/30/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
CREF Money Market $25.5337 0.00% 0.00% -- -- -- 1.53% 3.60%
iMoneyNet Money Fund Report Averages™ All Taxable 3 -- -- -- 0.01% 0.02% 0.03% 1.44% 3.33%

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.

Beginning July 16, 2009, part or all of the 12b-1 distribution expenses and/or administrative expenses attributable to the CREF Money Market Account are being voluntarily waived. Without these waivers, the 7-day current and effective annualized yields and total returns would have been lower. These waivers may be discontinued at any time without notice. Amounts waived on or after October 1, 2010 are subject to possible recovery by TIAA under certain conditions. Please see the prospectus for additional information. An investment in this account is not a deposit of any bank and is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other U.S. government agency. It is possible to lose money in this Account. The current yield more closely reflects the account's current earnings than does the total return.

1.
We estimate expenses for the year based on projected expense and asset levels. Differences between estimated and actual expenses are adjusted quarterly and reflected in current investment results.
2.
The Account’s total annual expense deduction appears in the Account's prospectus, and may be different than that shown herein due to rounding.  Please refer to the prospectus for further details.
3.
The iMoneyNet Money Fund Report Averages – All Taxable category is a simple average of over 1,000 taxable money market funds and you cannot invest directly in it.

TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, members FINRA and SIPC, distribute 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