MUTUAL FUNDS

TIAA-CREF Lifecycle target date funds

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Get the basics

The basics of lifecycle funds

Lifecycle funds, also known as target date funds, can help make it easier to save for retirement. When planning your retirement, select a lifecycle fund that’s closest to the date and the fund automatically adjusts over time.

A lifecycle fund adjusts over time

Invest for retirement in one easy step

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I’m 25

Since I plan to work for 40 more years, I want my money to work as hard as I do.
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I’m 45

I need my money to work through market ups and downs.

I’m 60

I want to keep my retirement money working so I’ll have enough income to live on.
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Performance

92% of the active TIAA-CREF Lifecycle Funds received an overall Morningstar rating of 4 (83%) or 5 (8%) stars, based on risk-adjusted returns as of 12/31/2020.1
 
100% of the active TIAA-CREF Lifecycle Index Funds received an overall Morningstar rating of 4 (8%) or 5 (92%) stars, based on risk-adjusted returns as of 12/31/2020.1
We are the only company to win the Lipper Best Mixed Assets Large Fund Group award for five consecutive years, from Refinitiv, an independent ratings organization.2
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As with all mutual funds, the principal value of a Lifecycle Fund isn’t guaranteed at any time, including at the target date, and will fluctuate with market changes.The target date approximates when investors may plan to start making withdrawals. However, you are not required to withdraw the funds at that target date. After the target date has been reached, some of your money may be merged into a fund with a more stable asset allocation.

Target date funds share the risks associated with the types of securities held by each of the underlying funds in which they invest. In addition to the fees and expenses associated with the target date funds, there is exposure to the fees and expenses associated with the underlying mutual funds.
 
1 Morningstar ratings are based on each mutual fund (institutional share class) or variable annuity account's (lowest cost) share class and include U.S. open-end mutual funds, CREF Variable Accounts and the Life Funds. The Morningstar Rating™ – or "star rating" – is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Morningstar ratings may be higher or lower on a monthly basis. The top 10% of funds or accounts in each product category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. The overall star ratings are Morningstar's published ratings, which are derived from weighted averages of the performance figures associated with the three-, five-, and 10-year (if applicable) Morningstar rating metrics for the period ended December 31, 2020. Morningstar is an independent service that rates mutual funds. Past performance cannot guarantee future results. For current performance and ratings, please visit  https://www.tiaa.org/public/investment-performance.

Diversification is a technique to help reduce risk. There is no guarantee that diversification will protect against a loss of income.
The principal value in a Lifecycle Fund is not guaranteed. The target date of the Lifecycle Fund is an approximate date when investors may plan to begin withdrawing from the fund, but there is no requirement to do so at that time.  Lifecycle funds share the risks associated with the types of securities held by each of the underlying funds in which they invest. In addition to the fees and expenses associated with the lifecycle funds, there is exposure to the fees and expenses associated with the underlying mutual funds. 
The principal value of the fund(s) is not guaranteed at any time, including at the target date.
TIAA-CREF products may be subject to market and other risk factors.  See the applicable product literature, or visit www.tiaa.org for details.
2 Refinitiv Lipper Fund Awards Winner United States 2016 -2020, Best Mixed Assets Large Fund Family Group Over Three Years. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com. The Award is based on a review of risk-adjusted performance of 39 companies for 2016, 36 for 2017, 35 for 2018 & 2019, and 30 for 2020. The award pertains only to the TIAA-CREF mutual funds in the mixed-asset category. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. Past performance does not guarantee future results. For current performance, rankings and prospectuses, please visit TIAA.org. The investment advisory services, strategies and expertise of TIAA Investments, a division of Nuveen, are provided by Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products.  
This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.
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