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.
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.
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