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CREF Variable Annuity Accounts

Growth

The CREF Growth Account seeks a favorable long-term rate of return, mainly through capital appreciation, primarily from a diversified portfolio of common stocks that present the opportunity for exceptional growth.
Unit Values
Click here to download the individual values represented in this graph by using our Download Data facility.
Unit value as of 01/05/2009: $47.17
Total return year-to-date as of 01/05/2009: 3.54%
3-month cumulative rate of return as of 09/30/2008: -13.54%
Net invested assets as of 09/30/2008: $10.65 billion
Expense charge*: 0.63%
Inception date: 04/29/1994
Investment class: U.S. Equity
Performance Comparison
  Performance Data
as of 01/02/2009
Average Annual Total Returns
as of 12/31/2008
Unit
Value
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since
Inception¡
Growth $47.15 +3.51% 3.51% -39.78% -9.48% -3.64% -4.94% 4.16%
Russell 1000® Growth Index -- +3.54% 3.54% -- -- -- -- --

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.

*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.
¡From November 30, 2007 on, the since inception performance shown is computed from the inception date of the account (the date on which the account became publicly available). Previously, since inception performance for this account was computed from the net asset value per share on the day prior to the inception date.
The Russell 1000 Growth Index is a subset of the Russell 1000 Index, which measures the performance of the stocks of the 1,000 largest companies in the Russell 3000® Index, based on market capitalization. The Russell 1000 Growth Index measures the performance of those stocks of the Russell 1000 with higher price-to-book ratios and higher relative forecasted growth rates. You cannot invest directly in these indices. Russell 1000 and Russell 3000 are trademarks and service marks of the Frank Russell Company. TIAA-CREF products are not promoted or sponsored by, or affiliated with, the Frank Russell Company.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please click here or call 1 877 518-9161 for a prospectus that contains this and other information. Please read the prospectus carefully before investing. TIAA (Teachers Insurance and Annuity Association) New York, NY issues annuities. Investment products are not FDIC insured, may lose value, and are not bank guaranteed.

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