Power. Simplicity. Value.

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TIAA-CREF Brokerage Services:

The freedom to build, control and adjust your

portfolio of investments according to your goals.

Power.

Simplicity.

Value.

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TIAA-CREF Brokerage Services offers:

< Customized support and investment options

< Access to a wide array of research and resources

< Easy-to-use tools

< Low expense ratio mutual funds*

< No minimum balance or maintenance fees

< Competitive trading fees

* Applies to select products.

We have a 95-year

legacy of trust.

For almost 100 years, our customers have trusted us to manage their retirement assets. Now you can take advantage of that same level of expertise, insight and personal service to help you with the management of your investment assets.

Make the most of that legacy

As a TIAA-CREF Brokerage Services customer, you will have access to disciplined assistance from our specialists, as well as a portfolio of products with long-term track records.

Invest without pressure

You’ll have the help you need to build and manage a comprehensive investment strategy for your unique needs and goals—without any pressure to buy.

Not-for-profit heritage

You can also count on our help to keep expenses low. After all, lower costs mean more of your money can be working for you.

One home for your investments

Whether you choose to manage your account by yourself, need a little guidance or prefer an advisor relationship, you can now manage your investment and retirement assets in one place.

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What’s your investment style? Hands on, hands off or somewhere in between? TIAA-CREF Brokerage Services lets you choose the kind of account that matches the way you want to invest.

<Individual Investing—You prefer to research and trade on your own.

<Guided Investing—You want to invest on your own, but want occasional help and guidance.

<Managed Solutions¹—You prefer to have a professional account manager do it for you. Decide which investment style is the best approach for you, and we’ll show you how easy it is to open an account and get started online at tiaa-cref.org or by phone

at 800 927-3059.

It’s your portfolio. Customize it.

Your financial needs call for investment choices that best meet your goals. So we give you access to TIAA-CREF’s family of mutual funds, many available at fees less than half the industry average,² along with more than 10,000 investment choices. These include:

< Mutual funds—from some of the nation’s best-known fund families, many of which are no-load and have no transaction fees³

<Stocks and exchange-traded funds (ETFs) available on major exchanges

<U.S. Treasury, agency, municipal, corporate and high-yield bonds

<FDIC-insured certificates of deposit (CDs)

<_Options

<Cash sweep options for your uninvested cash balance

1 Managed Solutions offers fee-based services.

2 The expense ratio on all mutual fund products and variable annuity accounts managed by TIAA-CREF is generally less than half the mutual fund industry average. (69% are less than half their respective Morningstar Universe average and 58% are less than half their Morningstar Universe median). Source: Morningstar Direct, December 31, 2014. Our mutual fund and variable annuity products are subject to various fees and expenses, including but not limited to management, administrative, and distribution fees; our variable annuity products have an additional mortality and expense risk charge.

3 Other fees and expenses do apply to continued investment in the fund and are described in the fund’s prospectus.

Certain securities may not be suitable for all investors. 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.

Get as much help

as you want.

Or as little.

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Put leading-edge tools

at your fingertips.

Access key information and unique insights into what our investment pros are thinking so you can better understand how the markets and economy might affect your investments. You can download in-depth independent research about specific industries or companies from some of the most reputable independent resources in the business. They include:

TIAA-CREF Market and Investment Insights Take advantage of the knowledge and analysis of TIAA-CREF Asset Management professionals.

Advanced Research and Analysis Tools

< Real-time equity quotes and performance data—Make the most of up-to-the-minute information from Thomson Reuters.

< S&P Capital IQ*—Tap into independent equity research from one of the world’s foremost sources of credit ratings, indexes, investment research, risk evaluation and data.

<Detailed company reports—Get access to detailed reports about specific companies provided by Morningstar.^®

Mutual Fund Locator

<TIAA-CREF and third-party mutual funds—Tap into the investment expertise of our asset management team and get more detailed insight about TIAA-CREF funds. You also have access to mutual funds offered by well-known third parties.

<TIAA-CREF Insights List**—Construct a diversified portfolio of mutual funds or achieve a specific asset allocation by accessing a prescreened list.

ETF and Stock Research Selection Tools

Take advantage of a suite of powerful online screeners to select stocks and ETFs for your portfolio.

Fixed Income and CD Center

Build a customized portfolio of individual bonds or certificates of deposit to meet a variety of your income goals (i.e. retirement income, income payments and more).

We’ve improved the navigation and redesigned the graphics of our online investor experience.

** The selection process for funds on the Mutual Fund Insight List does not take into account the particular needs of any specific investor. There is no guarantee that the selection methodology employed will be successful or lead to profitable returns.

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With a TIAA-CREF Brokerage Services account, you can add features designed to help you pursue your investment goals. These include:

< Automatic sweep—Choose from different options where your cash remains liquid and earns interest.¹

<Online Account Purchases—Help build your account with scheduled automatic or ad hoc purchases directly from your bank account.

< eDelivery—Go green with electronic delivery of your monthly statements, trade confirmations and other eligible account communications.

< Online service—Count on personalized attention from our team of dedicated Brokerage Specialists, available at 800 927-3059.

< Online Check Withdrawals—Request withdrawals directly online from your brokerage account for delivery to your address of record.

<Online Profile Updates—Make immediate updates to your account profile to include beneficiaries, address changes and more.

Access additional

features and services.

1 Sweep options vary by account type. Certain accounts do not include a money market sweep option.

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Experience clarity,

convenience and value.

Make even more of TIAA-CREF’s expertise and management skills with your retirement investments. Open a new retail brokerage account and you’ll be able to take advantage of:

<No account minimum balance requirement¹

^<No annual account maintenance fees ^<Competitive trade fees²

^<TIAA-CREF’s family of mutual funds.

From your TIAA-CREF account page, you can easily navigate and view your:

<Investments

<Transaction history

<Projected cash flow

<Tax documents

<Trade confirmations

If you already have a TIAA-CREF retirement investment account, consider the additional benefits you could enjoy by opening a new account or consolidating assets you have at other investment firms:³

<Fewer account statements

<Less paperwork

<Easier accounting

<Reducing or eliminating fees

Visit us online at tiaa-cref.org or call us at 800 927-3059.

1 Certain securities may require a minimum investment.

2 For current pricing, view the Customer Account Agreement at tiaa-cref.org.

3 Before consolidating assets, be sure to carefully consider the benefits of both the existing and new product. There will likely be differences in features, costs, surrender charges, services, company strength and other important aspects. There may also be tax consequences or other penalties associated with the transfer of assets. Indirect transfers may be subject to taxation and penalties. Consult with your own advisors regarding your particular situation.

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Sign up online at tiaa-cref.org.

<To open a new Brokerage Services account, log in and complete the online TIAA-CREF brokerage application.

Open an account via phone at 800 927-3059

<Call and ask one of our Brokerage Specialists for a Brokerage Account Kit.

< Our specialists can help complete necessary paperwork and select an account based on your goals.

<We’re available 8 a.m. to 7 p.m. (ET), Monday to Friday.

Tour Brokerage Services at tiaa-cref.org.

See how much TIAA-CREF Brokerage Services has to offer and how easy it is to navigate.

Getting

started

is easy.

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Consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 or go to tiaa-cref.org for a prospectus that contains this and other information. 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, are not a condition to any banking service or activity, and may lose value.

Brokerage Services are provided by TIAA-CREF Brokerage Services, a division of TIAA-CREF Individual & Institutional Services, LLC, Distributor, member FINRA and SIPC. Brokerage accounts are carried by Pershing, LLC, a subsidiary of the The Bank of New York Company, Inc., member FINRA, NYSE, SIPC. TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., and Nuveen Securities,member FINRA, distribute securities. Advisory services provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.