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¹ Morningstar ratings are based on the institutional share class for each mutual fund and include U.S. open-end mutual funds. The top 10% of funds in an investment category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. Morningstar proprietary ratings reflect historical risk-adjusted performance and can change every month. They are calculated from the fund's three-, five- and ten-year average annual returns in excess of 90-day Treasury bill returns with appropriate fee adjustments, and a risk factor that reflects fund performance below 90-day T-bill returns. The overall star ratings are Morningstar's published ratings, which are weighted averages of its three-, five- and ten-year ratings for periods ended March 31, 2019. Morningstar is an independent service that rates mutual funds. Past performance cannot guarantee future results. For current performance and rankings, please visit TIAA.org/public/investment-performance.

² As of 12/31/18. Other benefits from TIAA include: surrender benefits and other withdrawals, death benefits, health insurance and disability insurance benefits, and all other policy proceeds paid.​