TIAA Brokerage interest and cash sweep rate disclosure

TIAA Brokerage provides several options for managing cash balances in your brokerage account. Availability of the options listed below is based on account type. Not all options are available in every account type. You can log in to your account or call 800-842-2252 to find out more about which options are available for your account and for current interest rate information.

Bank deposits

FDIC-Insured Options
The TIAA Bank Sweep Product is designed to sweep Eligible Cash Balances in your Brokerage Account into bank deposit accounts at TIAA, FSB and other banks as described below. Two separate bank sweep options are used in combination: (1) the TIAA Bank Sweep Account, will be used as the primary bank sweep option for uninvested cash balances up to a maximum amount set by TIAA, FSB (not to exceed the current per-individual depositor FDIC insurance limits); and (2) the Liquid Insured Deposits Program (LIDs Overflow) to be used as an overflow for uninvested cash balances in excess of the maximum accepted by TIAA, FSB. You are solely responsible for monitoring the aggregate amount that you have on deposit with TIAA, FSB (through the Bank Sweep Account options and otherwise) and any other bank(s) participating in LIDs Overflow with respect to FDIC insurance limits. This information is found within your account statement or contact TIAA Brokerage for assistance. Pershing, TIAA Brokerage and your investment professional do not monitor or take any responsibility for money you may have at a Bank outside the TIAA Bank Sweep Account or money you have at any bank participating in the LIDS Overflow. Rates are variable and may change without notice.

The TIAA Brokerage Customer Account Agreement and full terms and conditions for each sweep product are available below for more information. Availability of the Bank Sweep Product is based on account type and all options may not be available.

TIAA Brokerage Customer Account Agreement

TIAA Bank Sweep Terms and ConditionsOpens pdf

Liquid Insured Deposit Terms & Conditions (Self-directed Accounts)Opens pdf

Liquid Insured Deposits Terms & Conditions (Managed Accounts)Opens pdf

Liquid Insured Deposit Program Banks- List of banks that participate in the FDIC sweep programOpens pdf

The Bank Deposits at each bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 for each category of legal ownership including individual retirement accounts and certain other self- directed retirement accounts. Please review the FDIC Insured Bank Deposits section on your Brokerage Statement for participation information and specific bank allocation. The Banks that participant in the program periodically change. To opt out of a participating bank please call TIAA Brokerage at (800) 842-2252, weekdays 8 a.m. – 7 p.m. (ET).

fdic-insured bank sweep options-7-day yield interest rate 7-day yield as of 11/15/2022 initial amount to open
TIAA Bank Sweep Account (MMTSN/MMTSQ) 0.594% 0.59% $0.01
Liquid Insured Deposits (LIDs for Self-Directed Accounts) (RFI) 1.73% 1.73%
$0.01
Liquid Insured Deposits (LIDs for Managed Accounts) - (RFIM) 1.73%
1.73%
$0.01

Customer protection policy

To find out how we protect your account if unauthorized activity does occur, read our customer protection policy.

Availability of a cash management option is based on account type. Not all options are available in every account type. Contact TIAA Brokerage, should you have questions.

The performance data quoted represents past performance and is no guarantee of future results. Your returns and the principal value of your investments will fluctuate so that your shares or 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. For performance current to the most recent month‐end, visit TIAA.org or call 800-842-2252.

Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance results would have been lower.

*Currently available for customers formerly with EverTrade.

You could lose money by investing in a money market fund. Although the money market fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide support to the money market fund, and you should not expect that the sponsor will provide financial support to the money market fund at any time.

CERTIFICATES OF DEPOSIT (CDS)
Minimum deposit: $5,000 per CD
ANNUAL PERCENTAGE YIELD
(APY) AS OF 11/15/2022
3 months 4.00%
6 months 4.45%
1 year 4.65%
18 months 4.80%
2 year 4.85%
3 year 4.90%
5 year 4.25%

 

With a TIAA brokerage account, you can view our CD inventory online. Follow these steps to view CD rates:

Log in to your account on TIAA.org.

Under Resources, click Fixed Income Investments or from Research, select Fixed income research.

Under Ready to Invest (right hand side of page, scroll down) click Search Now.

treasury rates treasury yields as of 11/15/2022
90 day Treasury Bill
4.15%
1 Year Treasury Bill 4.38%
2 Year Treasury Note 4.40%
10 Year Bond 3.88%
30 Year Bond 4.02%
Margin Lending Rates
*Borrowing on margin requires a margin account
Rates - As of 11/15/2022
All rates are derived from Pershing Base Lending Rate.
PBLR 9.875%
loan amount lending rate
$0 - $9,999 9.875% + 1.25% = 11.125%
$10,000 - $29,999 9.875% + 0.75% = 10.625%
$30,000 - $49,9999.1259.125 9.875% + 0.50% = 10.375%
$50,000+ 9.875% + 0.25% = 10.125%

Important information

The information in this interest rate disclosure sheet is for information purposes only. Availability of a cash management option is based on account type and not all options are available for every account. More specific information about a particular money market mutual fund, including Securities Investor Protection Corporation ("SIPC") protection, and applicable fund restrictions, fees and expenses and other important information can be found in the fund's prospectus. More specific information about a particular bank deposit option, including Federal Deposit Insurance Corporation ("FDIC") insurance and other important information can be found in the applicable bank deposit disclosure document.

Past performance is not an indication of future performance.

Yields shown are indicative of recent yields as of the dates shown and are subject to change and availability. Past performance does not guarantee that you will receive these interest rates in the future, or that the options listed above will be available for your account.

Bank Deposits

The FDIC-Insured Bank Deposits accounts are not securities and are not covered by SIPC. The Bank Deposits at each bank are insured by the FDIC up to $250,000 for each category of legal ownership including individual retirement accounts and certain other self-directed retirement accounts and up to $500,000 for joint accounts. Please review this in connection with other deposits you may have at each respective bank.

Bank Deposit options are held in deposit accounts at one or more banks. Deposit accounts pay interest on deposits pursuant to the terms and conditions in the disclosure document for the applicable bank deposit option. Interest rates may fluctuate and may vary among banks. Deposit accounts are not subject to SIPC protection. They are subject to FDIC insurance up to applicable limits. FDIC insurance protects against loss of deposit amounts in the event the bank holding the deposits fails. More specific information about a particular bank deposit option, including FDIC insurance and other important information can be found in the applicable bank deposit disclosure document.

Money market mutual funds

Money market mutual funds are securities that are registered with the U.S. Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940 and the Securities Act of 1933. Although money market funds attempt to maintain a stable net asset value of $1 per share, there is no guarantee that the fund will in fact maintain a $1 per share stable net asset value. Money market funds are not insured by the FDIC. Money market funds are, however, securities subject to SIPC protection in the event of insolvency of Pershing, LLC as the brokerage firm holding your account and cash or securities are owed to you. SIPC is a nonprofit member corporation funded primarily by member securities brokerage firms registered with the SEC, which protects customers up to certain limits in the event of the failure of a brokerage firm where cash and securities are owed to customers.

See the TIAA Brokerage SIPC Asset Protection GuideOpens pdf for more information. SIPC does not protect against loss due to market fluctuation or failure of the issuer of a money market fund. More specific information about a particular money market mutual fund, including applicable fund restrictions, fees and expenses and other important information, can be found in the fund's prospectus, which can be obtained from our forms page (within Agreements & Disclosures) or by contacting 800-842-2252, weekdays, 8 a.m. to 7 p.m. (ET).

Conflicts of interest

Under the TIAA Bank Sweep Products, cash balances are swept to and held in deposit accounts with TIAA, FSB, which is a TIAA affiliate ("TIAA Trust"). Various TIAA affiliates receive compensation in connection with the TIAA Bank Sweep Products. TIAA-CREF Individual & Institutional Services, LLC ("TC Services") receives fees for administrative services provided in connection with the TIAA Bank Sweep Products. TIAA Trust earns net income from the difference it pays on the deposit accounts in connection with the TIAA Bank Sweep Products and the income it earns on the investments made with such cash deposits. In setting interest rates, TIAA Trust and participating banks in the LIDs program may seek to pay as low a rate as necessary based on market and business conditions, as described more fully in the TIAA Bank Sweep Product Terms and Conditions and the LIDs Terms and Conditions available on the Brokerage Forms page at TIAA.org/BrokerageForms. Because TIAA, FSB has discretion over the setting of its interest rates for deposits, the interests of TIAA, FSB with respect to the setting of this rate may be different than yours.

Money market funds pay certain fees to TIAA Brokerage, through TIAA-CREF Individual & Institutional Services, for distribution, administrative and/or marketing services. These fees are disclosed in the prospectus.

Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distribute securities products.

TIAA Brokerage, a division of TIAA-CREF Individual & Institutional Services, LLC, Member FINRAOpens in a new window and SIPCOpens in a new window, distributes securities. Brokerage accounts are carried by Pershing, LLC, a subsidiary of The Bank of New York Mellon Corporation, Member FINRA, NYSE, SIPC.

© 2022 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY

2594675