Investment Transfer Strategy

Transcription

1 Create your own financial story. Investment Transfer Strategy TIAA-CREF plan participants (pages 2 to 4) Fidelity and Vanguard plan participants (pages 5 to 15) Enhancements to the Reynolda House Retirement Plan

2 TIAA-CREF plan participants Your assets in the Reynolda House Retirement Plan will transfer to the current Wake Forest University Retirement Plan on February 5, Accordingly, the TIAA and CREF annuities will transfer from the R1 to the R2 share class, without impacting your account balance(s). You will be enrolled in the new Wake Forest University Retirement Plan with a Retirement Choice contract on February 10, 2016, and you will receive a confirmation of your new account information. Your beneficiary(ies) will carry over from your (s). 1 Beginning February 19, 2016, your voluntary and/or employer contributions will be directed to the new investments, as shown on pages 3 and 4. Beginning February 25, 2016, any rollovers, transfers, assets, and loans 2 will be directed to the new investments, as shown on pages 3 and 4. If you prefer a different investment strategy, you can make changes by using the information on page 15 of the transition guide to access your account. Assets in the TIAA and CREF annuity accounts will remain in your existing contract(s), 3 although no new contributions, rollovers, or transfers in may be made. If you are evaluating whether to transfer money from an existing contract(s), review the comparison chart at under the Announcement section and consider the following: When TIAA Traditional Annuity assets are transferred from an existing contract, you risk giving up a favorable crediting rate on prior contributions. 4 The adjustable rate guarantee for the TIAA Traditional Annuity in the Retirement Choice contract is between 1% and 3%, 5 allowing it to be more responsive to the prevailing interest rate environment. The Retirement Choice contract has different liquidity rules than the existing contracts. Moving money from any investment in an existing contract to a Retirement Choice contract is a permanent decision. 1 Participants who have completed a Spousal Waiver for their will need to complete a new Spousal Waiver for the new Retirement Choice contract. 2 Up to three loans from faculty and staff contributions will be permitted under the new Retirement Choice contract. 3 As part of these enhancements, TIAA-CREF will move your assets from the existing TDA Plan to the existing Defined Contribution Plan. These changes will have no effect on your account balances or investment options, and your contracts will remain the same. 4 If you have been contributing to TIAA Traditional, you can review the rate in the existing contract using the information on page 15 of the transition guide to access your account. If you expect to retire within 10 years, compare the potential lifetime credited rates for TIAA Traditional before transferring these annuity assets to the new contract. 5 The adjustable rate guarantee is determined annually. Guarantees are subject to TIAA s claims-paying ability. 2

3 TIAA-CREF Investment Options Current TIAA-CREF Investment Option CREF Bond Market Account R2 1, 2 QCBMPX in CREF Equity Index Account R2 1, 2 QCEQPX in CREF Global Equities Account R2 1, 2 QCGLPX in CREF Growth Account R2 1, 2 QCGRPX in CREF Inflation-Linked Bond Account R2 1, 2 QCILPX in CREF Money Market Account R2 1, 2 QCMMPX in CREF Social Choice Account R2 1, 2 QCSCPX in CREF Stock Account R2 1, 2 QCSTPX in TIAA Real Estate Account 2 QREARX in TIAA Traditional Annuity 2 N/A in Metropolitan West Total Return Bond Plan Vanguard Institutional Index I Age-based Vanguard Target Retirement CREF Growth Account R2 Vanguard Inflation-Protected Securties CREF Money Market Account R2 CREF Social Choice Account R2 CREF Stock Account R2 TIAA Real Estate Account TIAA Traditional Annuity TIAA-CREF Growth & Income Retirement TRGIX Close Harbor Capital Appreciation Institutional TIAA-CREF International Equity Retirement TRERX Close American s EuroPacific Growth R6 MWTSX VINIX QCGRPX VAIPX QCMMPX QCSCPX QCSTPX QREARX N/A HACAX RERGX TIAA-CREF Large-Cap Value Retirement TRLCX Close JHancock Disciplined Value R6 JDVWX TIAA-CREF Lifecycle 2010 Retirement TCLEX Close Vanguard Target Retirement 2010 TIAA-CREF Lifecycle 2015 Retirement TCLIX Close Vanguard Target Retirement 2015 TIAA-CREF Lifecycle 2020 Retirement TCLTX Close Vanguard Target Retirement 2020 TIAA-CREF Lifecycle 2025 Retirement TCLFX Close Vanguard Target Retirement 2025 TIAA-CREF Lifecycle 2030 Retirement TCLNX Close Vanguard Target Retirement 2030 TIAA-CREF Lifecycle 2035 Retirement TCLRX Close Vanguard Target Retirement 2035 TIAA-CREF Lifecycle 2040 Retirement TCLOX Close Vanguard Target Retirement 2040 TIAA-CREF Lifecycle 2045 Retirement TTFRX Close Vanguard Target Retirement 2045 VTENX VTXVX VTWNX VTTVX VTHRX VTTHX VFORX VTIVX 1 As part of the plan merge on February 5, 2016, the TIAA and CREF annuities will transfer from the R1 to the R2 share class. 2 Assets in TIAA and CREF annuity accounts will remain in your existing contract(s), although no new contributions, rollovers, or transfers in may be made to these contracts. 3

4 TIAA-CREF Investment Options Current TIAA-CREF Investment Option TIAA-CREF Lifecycle 2050 Retirement TLFRX Close Vanguard Target Retirement 2050 TIAA-CREF Lifecycle 2055 Retirement TTRLX Close Vanguard Target Retirement 2055 TIAA-CREF Lifecycle Retire Income Retirement TLIRX Close Vanguard Target Retirement Income VFIFX VFFVX VTINX TIAA-CREF Mid-Cap Growth Retirement TRGMX Close Eagle Mid Cap Growth R6 HRAUX TIAA-CREF Mid-Cap Value Retirement TRVRX Close MFS Mid Cap Value R5 MVCKX TIAA-CREF Real Estate Sec Retirement TRRSX Close Age-based Vanguard Target Retirement TIAA-CREF S&P 500 Index Retirement TRSPX Close Vanguard Institutional Index I VINIX TIAA-CREF Small-Cap Equity Retirement TRSEX Close Vanguard Extended Market Index I VIEIX TIAA-CREF Social Choice Equity Retirement TRSCX Close CREF Social Choice Account R2 QCSCPX Vanguard Target Retirement s Birth Year Investment Name Vanguard Target Retirement Income VTINX Vanguard Target Retirement 2010 VTENX Vanguard Target Retirement 2015 VTXVX Vanguard Target Retirement 2020 VTWNX Vanguard Target Retirement 2025 VTTVX Vanguard Target Retirement 2030 VTHRX Vanguard Target Retirement 2035 VTTHX Vanguard Target Retirement 2040 VFORX Vanguard Target Retirement 2045 VTIVX Vanguard Target Retirement 2050 VFIFX Vanguard Target Retirement 2055 VFFVX 1993 Present Vanguard Target Retirement 2060 VTTSX 4

5 Fidelity and Vanguard plan participants Beginning February 4, 2016, a brief blackout period will facilitate a smooth transfer of your existing assets. 1 You will not be able to change your investments, make withdrawals, or transfer funds during this time, but scheduled payroll contributions will continue to be deducted. Details are provided in the enclosed Blackout Notice. You will be enrolled in the Wake Forest University Retirement Plan with a new a Retirement Choice contract on February 10, and you will receive a confirmation of your new account information. Your beneficiary will be set to Estate. Beginning February 19, 2016, your existing voluntary and/or employer contributions will be directed 2 to the new investments, as shown on pages 6 to 15. Once the blackout period ends on February 26, 2016, you can change your investments and beneficiary information by using the information on page 15 of the transition guide to access your account. Any loans 3 you have in the Plan also will transfer. If your current investment choices remain on the new menu: In-kind transfer of current funds to the same funds on the new investment menu: These assets will be re-registered at TIAA-CREF, participant accounts will remain fully invested, and the assets will share in the investment experience of the funds during the asset transfer process. In-kind and a subsequent transfer from higher- to lower-cost shares of the same fund: This method will be used for some Vanguard investment options, which will be moved in-kind to the TIAA-CREF platform. The asset transfer process will proceed to Step 1 upon receipt of participant-level data from the current Retirement Service Administrator. Step 1: TIAA-CREF will follow the fund-to-fund transfer strategy shown on pages 6 to 15. The Plan assets will be invested in the same fund on the TIAA-CREF platform as they are invested with the current Retirement Service Administrator today. As a result of this process, participants will be continuously invested throughout the asset transfer process. Step 2: TIAA-CREF will transfer from higher- to lower-cost shares, where applicable, as part of the transition. This transfer will be completed as soon as administratively possible. The fund-to-fund mapping on pages 6 to 15 will identify the investment options that are available for the higher- to lower-cost share class transfer. 4 You will receive two confirmation statements from TIAA-CREF, as follows: 1. Confirmation of the transfer of proceeds to the same fund on the TIAA-CREF platform. 2. Confirmation of the transfer from the higher-cost shares to the lower-cost shares. 1 The blackout period is subject to change. 2 If you are contributing to more than one retirement service provider, your contribution strategy for all future contributions will default to the strategy you have established in your current accounts in the following order: 1. TIAA-CREF, 2. Vanguard (if you currently have no contributions directed to TIAA-CREF), 3. Fidelity (if you currently have no contributions directed to TIAA-CREF or Vanguard). We urge you to review your investment asset allocation by logging in to your account at or by calling TIAA-CREF. 3 Up to three loans from faculty and staff contributions will be permitted under the new account. 4 As a result of this two-step transfer process, your accounts will be invested in the same fund on the TIAA-CREF platform from the date the assets are transferred to TIAA-CREF through the date the transfer to the lower-cost shares is completed. 5

6 If your current investment choices are not on the new menu: One-step transfer process (non-target date funds): These mutual fund assets will move from Fidelity and/or Vanguard to TIAA-CREF, following a fund-to-fund transfer strategy, as shown on pages 6 to 15. When TIAA-CREF receives the proceeds from Fidelity and/or Vanguard, they will be applied as of 4 p.m. ET on the date of receipt, according to the transfer strategy. Your account will not share in the investment experience of the new investments for one business day. Two-step transfer process (Vanguard Target Retirement s): Certain mutual funds on the current investment menu will be closed and mapped to the Vanguard Target Retirement s. Investments moved through the two-step process will be transferred, as follows: Step 1: Fidelity and/or Vanguard will liquidate the existing plan assets, then wire the proceeds to TIAA-CREF. As of 4 p.m. ET on the date of receipt, TIAA-CREF will apply the monies to the CREF Money Market Account, as directed by your employer. 1 Step 2: The plan account proceeds in the CREF Money Market Account will be liquidated and then transferred at the participant level to the appropriate Vanguard Target Retirement, based on your date of birth. 2 You will receive two confirmation statements from TIAA-CREF, as follows: 1. Confirmation of the transfer of proceeds to the CREF Money Market Account. 2. Confirmation of the transfer from the CREF Money Market Account to the age-based Vanguard Target Retirement. Fidelity Investment Options Current Fidelity Investment Option Fidelity Advisor Stock Selector Mid Cap FSSMX Close Eagle Mid Cap Growth R6 HRAUX Fidelity Asset Manager 20% FASIX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 30% FTANX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 40% FFANX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 50% FASMX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 60% FSANX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 70% FASGX Close Age-based Vanguard Target Retirement Fidelity Asset Manager 85% FAMRX Close Age-based Vanguard Target Retirement Fidelity Balanced FBALX Close Age-based Vanguard Target Retirement Fidelity Blue Chip Growth FBGRX Close Harbor Capital Appreciation Institutional HACAX Fidelity Blue Chip Value FBCVX Close JHancock Disciplined Value R6 JDVWX Fidelity Canada FICDX Close Age-based Vanguard Target Retirement Fidelity Capital & Income FAGIX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Capital Appreciation FDCAX Close Harbor Capital Appreciation Institutional HACAX 6 1 Participant accounts will not share in the investment experience of the CREF Money Market Account for one business day during the transfer of plan assets. Upon receipt of participant-level data from Fidelity and/or Vanguard, the data will be fully reconciled to the proceeds received. When the reconciliation is completed, the participant-level instructions will be determined to be in good order and the asset transfer process will proceed to Step 2. 2 Any plan earnings on the proceeds from the CREF Money Market Account, from the initial trade date through the date Step 2 is completed, will be allocated to each participant s account in a proportionate manner. As a result of this two-step process, participant accounts will be invested in the CREF Money Market Account for a period during which they will not share in the investment experience of the appropriate age-based Vanguard Target Retirement s.

7 Fidelity Investment Options Current Fidelity Investment Option Fidelity Cash Reserves FDRXX Close CREF Money Market R2 QCMMPX Fidelity China Region FHKCX Close Age-based Vanguard Target Retirement Fidelity Conservative Income Bond FCONX Close CREF Money Market R2 QCMMPX Fidelity Contrafund FCNTX Close Harbor Capital Appreciation Institutional HACAX Fidelity Convertible Securities FCVSX Close Age-based Vanguard Target Retirement Fidelity Corporate Bond FCBFX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Disciplined Equity FDEQX Close Vanguard Institutional Index I VINIX Fidelity Diversified International FDIVX Close American s EuroPacific Growth R6 RERGX Fidelity Dividend Growth FDGFX Close Vanguard Institutional Index I VINIX Fidelity EMEA FEMEX Close DFA Emerging Markets Core Equity I DFCEX Fidelity Emerging Asia FSEAX Close Age-based Vanguard Target Retirement Fidelity Emerging Markets FEMKX Close DFA Emerging Markets Core Equity I DFCEX Fidelity Emerging Markets Discovery FEDDX Close DFA Emerging Markets Core Equity I DFCEX Fidelity Equity Dividend Income FEQTX Close JHancock Disciplined Value R6 JDVWX Fidelity Equity-Income FEQIX Close JHancock Disciplined Value R6 JDVWX Fidelity Europe FIEUX Close Age-based Vanguard Target Retirement Fidelity Export & Multinational FEXPX Close Harbor Capital Appreciation Institutional HACAX Fidelity Fifty FFTYX Close Harbor Capital Appreciation Institutional HACAX Fidelity Floating Rate High Income FFRHX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Focused High Income FHIFX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Focused Stock FTQGX Close Harbor Capital Appreciation Institutional HACAX Fidelity Four-in-One Index FFNOX Close Age-based Vanguard Target Retirement Fidelity Freedom 2005 FFFVX Close Vanguard Target Retirement Income VTINX Fidelity Freedom 2010 FFFCX Close Vanguard Target Retirement 2010 VTENX Fidelity Freedom 2015 FFVFX Close Vanguard Target Retirement 2015 VTXVX Fidelity Freedom 2020 FFFDX Close Vanguard Target Retirement 2020 VTWNX Fidelity Freedom 2025 FFTWX Close Vanguard Target Retirement 2025 VTTVX Fidelity Freedom 2030 FFFEX Close Vanguard Target Retirement 2030 VTHRX Fidelity Freedom 2035 FFTHX Close Vanguard Target Retirement 2035 VTTHX Fidelity Freedom 2040 FFFFX Close Vanguard Target Retirement 2040 VFORX Fidelity Freedom 2045 FFFGX Close Vanguard Target Retirement 2045 VTIVX Fidelity Freedom 2050 FFFHX Close Vanguard Target Retirement 2050 VFIFX Fidelity Freedom 2055 FDEEX Close Vanguard Target Retirement 2055 VFFVX Fidelity Freedom Income FFFAX Close Vanguard Target Retirement Income VTINX Fidelity FFIDX Close Harbor Capital Appreciation Institutional HACAX Fidelity Global Balanced FGBLX Close Age-based Vanguard Target Retirement Fidelity Global Bond FINUX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Global Commodity Stock FFGCX Close Age-based Vanguard Target Retirement 7

8 8 Fidelity Investment Options Current Fidelity Investment Option Fidelity Global Equity Income FGILX Close Age-based Vanguard Target Retirement Fidelity Global High Income FGHNX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Global Strategies FDYSX Close Age-based Vanguard Target Retirement Fidelity GNMA FGMNX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Government Income FGOVX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Government Money Market SPAXX Close CREF Money Market R2 QCMMPX Fidelity Growth & Income Portfolio FGRIX Close Vanguard Institutional Index I VINIX Fidelity Growth Company FDGRX Close Harbor Capital Appreciation Institutional HACAX Fidelity Growth Discovery FDSVX Close Harbor Capital Appreciation Institutional HACAX Fidelity Growth Strategies FDEGX Close Eagle Mid Cap Growth R6 HRAUX Fidelity High Income SPHIX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Independence FDFFX Close Harbor Capital Appreciation Institutional HACAX Fidelity Inflation-Protected Bond FINPX Close Vanguard Inflation-Protected Securities VAIPX Fidelity Intermediate Bond FTHRX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Intermediate Government Income FSTGX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity International Bond FINUX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity International Capital Appreciation FIVFX Close American s EuroPacific Growth R6 RERGX Fidelity International Discovery FIGRX Close American s EuroPacific Growth R6 RERGX Fidelity International Enhanced Index FIENX Close Vanguard Total International Stock Index VTIAX Fidelity International Growth FIGFX Close American s EuroPacific Growth R6 RERGX Fidelity International Real Estate FIREX Close Age-based Vanguard Target Retirement Fidelity International Small Cap FISMX Close American s EuroPacific Growth R6 RERGX Fidelity International Small Cap Opp FSCOX Close American s EuroPacific Growth R6 RERGX Fidelity International Value FIVLX Close T. Rowe Price Overseas Stock TROSX Fidelity Investment Grade Bond FBNDX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Japan FJPNX Close Age-based Vanguard Target Retirement Fidelity Japan Smaller Companies FJSCX Close Age-based Vanguard Target Retirement Fidelity Large Cap Core Enhanced Index FLCEX Close Vanguard Institutional Index I VINIX Fidelity Large Cap Growth Enhanced Idx FLGEX Close Harbor Capital Appreciation Institutional HACAX Fidelity Large Cap Stock FLCSX Close Vanguard Institutional Index I VINIX Fidelity Large Cap Value Enhanced Index FLVEX Close JHancock Disciplined Value R6 JDVWX Fidelity Latin America FLATX Close Age-based Vanguard Target Retirement Fidelity Leveraged Company Stock FLVCX Close Vanguard Extended Market Index I VIEIX Fidelity Limited Term Government FFXSX Close CREF Money Market R2 QCMMPX Fidelity Low-Priced Stock FLPSX Close MFS Mid Cap Value R5 MVCKX Fidelity Magellan FMAGX Close Harbor Capital Appreciation Institutional HACAX Fidelity Mega Cap Stock FGRTX Close Vanguard Institutional Index I VINIX Fidelity Mid Cap Enhanced Index FMEIX Close Vanguard Extended Market Index I VIEIX

9 Fidelity Investment Options Current Fidelity Investment Option Fidelity Mid Cap Value FSMVX Close MFS Mid Cap Value R5 MVCKX Fidelity Mid-Cap Stock FMCSX Close Eagle Mid Cap Growth R6 HRAUX Fidelity Money Market SPRXX Close CREF Money Market R2 QCMMPX Fidelity Mortgage Securities FMSFX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Nasdaq Composite Index FNCMX Close Harbor Capital Appreciation Institutional HACAX Fidelity New Markets Income FNMIX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity New Millennium FMILX Close Harbor Capital Appreciation Institutional HACAX Fidelity Nordic FNORX Close Age-based Vanguard Target Retirement Fidelity OTC Portfolio FOCPX Close Harbor Capital Appreciation Institutional HACAX Fidelity Overseas FOSFX Close T. Rowe Price Overseas Stock TROSX Fidelity Pacific Basin FPBFX Close Age-based Vanguard Target Retirement Fidelity Puritan FPURX Close Age-based Vanguard Target Retirement Fidelity Real Estate Income FRIFX Close Age-based Vanguard Target Retirement Fidelity Real Estate Investment Portfolio FRESX Close Age-based Vanguard Target Retirement Fidelity Retirement Govt Money Market FGMXX Close CREF Money Market R2 QCMMPX Fidelity Retirement Money Market FRTXX Close CREF Money Market R2 QCMMPX Fidelity Select Air Transportation Portfolio FSAIX Close Age-based Vanguard Target Retirement Fidelity Select Automotive Portfolio FSAVX Close Age-based Vanguard Target Retirement Fidelity Select Banking Portfolio FSRBX Close Age-based Vanguard Target Retirement Fidelity Select Biotechnology Portfolio FBIOX Close Age-based Vanguard Target Retirement Fidelity Select Brokerage & Investment Management FSLBX Close Age-based Vanguard Target Retirement Fidelity Select Chemicals Portfolio FSCHX Close Age-based Vanguard Target Retirement Fidelity Select Comms Equip Portfolio FSDCX Close Age-based Vanguard Target Retirement Fidelity Select Computers Portfolio FDCPX Close Age-based Vanguard Target Retirement Fidelity Select Construction & Hsg Portfolio FSHOX Close Age-based Vanguard Target Retirement Fidelity Select Consumer Discret Portfolio FSCPX Close Age-based Vanguard Target Retirement Fidelity Select Consumer Finance Portfolio FSVLX Close Age-based Vanguard Target Retirement Fidelity Select Consumer Staples Portfolio FDFAX Close Age-based Vanguard Target Retirement Fidelity Select Defense & Aero Portfolio FSDAX Close Age-based Vanguard Target Retirement Fidelity Select Electronics Portfolio FSELX Close Age-based Vanguard Target Retirement Fidelity Select Energy Portfolio FSENX Close Age-based Vanguard Target Retirement Fidelity Select Energy Service Portfolio FSESX Close Age-based Vanguard Target Retirement Fidelity Select Envir and Alt Engy Portfolio FSLEX Close Age-based Vanguard Target Retirement Fidelity Select Financial Services Portfolio FIDSX Close Age-based Vanguard Target Retirement Fidelity Select Gold Portfolio FSAGX Close Age-based Vanguard Target Retirement Fidelity Select Health Care Portfolio FSPHX Close Age-based Vanguard Target Retirement 9

10 Fidelity Investment Options Current Fidelity Investment Option 10 Fidelity Select Industrial Equip Port FSCGX Close Age-based Vanguard Target Retirement Fidelity Select Industrials Portfolio FCYIX Close Age-based Vanguard Target Retirement Fidelity Select Insurance Portfolio FSPCX Close Age-based Vanguard Target Retirement Fidelity Select IT Services Portfolio FBSOX Close Age-based Vanguard Target Retirement Fidelity Select Leisure Portfolio FDLSX Close Age-based Vanguard Target Retirement Fidelity Select Materials Portfolio FSDPX Close Age-based Vanguard Target Retirement Fidelity Select Medical Delivery Portfolio FSHCX Close Age-based Vanguard Target Retirement Fidelity Select Medical Equip & Systems FSMEX Close Age-based Vanguard Target Retirement Fidelity Select Money Market FSLXX Close CREF Money Market R2 QCMMPX Fidelity Select Multimedia Portfolio FBMPX Close Age-based Vanguard Target Retirement Fidelity Select Natural Gas Portfolio FSNGX Close Age-based Vanguard Target Retirement Fidelity Select Natural Resources Portfolio FNARX Close Age-based Vanguard Target Retirement Fidelity Select Pharmaceuticals Portfolio FPHAX Close Age-based Vanguard Target Retirement Fidelity Select Retailing Portfolio FSRPX Close Age-based Vanguard Target Retirement Fidelity Select Software & Comp Portfolio FSCSX Close Age-based Vanguard Target Retirement Fidelity Select Technology Portfolio FSPTX Close Age-based Vanguard Target Retirement Fidelity Select Telecommunications Portfolio FSTCX Close Age-based Vanguard Target Retirement Fidelity Select Transportation FSRFX Close Age-based Vanguard Target Retirement Fidelity Select Utilities Portfolio FSUTX Close Age-based Vanguard Target Retirement Fidelity Select Wireless Portfolio FWRLX Close Age-based Vanguard Target Retirement Fidelity Short-Term Bond FSHBX Close CREF Money Market R2 QCMMPX Fidelity Small Cap Discovery FSCRX Close Vanguard Extended Market Index I VIEIX Fidelity Small Cap Enhanced Index FCPEX Close Vanguard Extended Market Index I VIEIX Fidelity Small Cap Growth FCPGX Close Vanguard Explorer VEXRX Fidelity Small Cap Stock FSLCX Close Vanguard Extended Market Index I VIEIX Fidelity Small Cap Value FCPVX Close Goldman Sachs Small Cap Value Institutional GSSIX Fidelity Spartan 500 Index Advantage FUSVX Close Vanguard Institutional Index I VINIX Fidelity Spartan EMkts Index Advantage FPMAX Close DFA Emerging Markets Core Equity I DFCEX Fidelity Spartan Extnd Market Index Advantage Fidelity Spartan Global ex U.S. Index Advantage Fidelity Spartan Inflation-Protected Bond Index Fidelity Advantage Fidelity Spartan Intermediate Treasury Bond Index Advantage Fidelity Spartan International Index Advantage FSEVX Close Vanguard Extended Market Index I VIEIX FSGDX Close Vanguard Total International Stock Index FSIYX Close Vanguard Inflation-Protected Securities VTIAX VAIPX FIBAX Close Vanguard Total Bond Market Index VBTLX FSIVX Close Vanguard Total International Stock Index VTIAX

11 Fidelity Investment Options Current Fidelity Investment Option Fidelity Spartan Long-Term Treasury Bond Index Fidelity Advantage Fidelity Spartan Mid Cap Index Advantage Fidelity Spartan Real Estate Index Advantage FLBAX Close Age-based Vanguard Target Retirement FMEIX Close Vanguard Extended Market Index I VIEIX FSRVX Close Age-based Vanguard Target Retirement Fidelity Spartan Short-Term Treasury FSBAX Close CREF Money Market R2 QCMMPX Bond Indx Fidelity Advantage Fidelity Spartan Small Cap Index FSSVX Close Vanguard Extended Market Index I VIEIX Advantage Fidelity Spartan Total Market Index FSTVX Close Vanguard Institutional Index I VINIX Advantage Fidelity Spartan US Bond Index FSITX Close Vanguard Total Bond Market Index VBTLX Advantage Fidelity Stock Select All Cap FDSSX Close Harbor Capital Appreciation Institutional HACAX Fidelity Stock Select Large Cap Value FSLVX Close JHancock Disciplined Value R6 JDVWX Fidelity Stock Selector Small Cap FDSCX Close Vanguard Extended Market Index I VIEIX Fidelity Strategic Dividend & Income FSDIX Close Age-based Vanguard Target Retirement Fidelity Strategic Income FSICX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Strategic Real Return FSRRX Close Age-based Vanguard Target Retirement Fidelity Telecom and Utilities FIUIX Close Age-based Vanguard Target Retirement Fidelity Total Bond FTBFX Close Metropolitan West Total Return Bond Plan MWTSX Fidelity Total Emerging Markets FTEMX Close DFA Emerging Markets Core Equity I DFCEX Fidelity Total International Equity FTIEX Close American s EuroPacific Growth R6 RERGX Fidelity Treasury Only Money Market FDLXX Close CREF Money Market R2 QCMMPX Fidelity Trend FTRNX Close Harbor Capital Appreciation Institutional HACAX Fidelity US Government Res FGRXX Close CREF Money Market R2 QCMMPX Fidelity Value FDVLX Close MFS Mid Cap Value R5 MVCKX Fidelity Value Discovery FVDFX Close JHancock Disciplined Value R6 JDVWX Fidelity Value Strategies FSLSX Close MFS Mid Cap Value R5 MVCKX Fidelity Worldwide FWWFX Close Age-based Vanguard Target Retirement Strategic Advisers Core Inc Multi-Manager FWHBX Close Metropolitan West Total Return Bond Plan MWTSX Strategic Advisers Core Multi-Manager FLAUX Close Vanguard Institutional Index I VINIX Strategic Advisers Emerging Markets of s FLILX Close DFA Emerging Markets Core Equity I DFCEX Strategic Advisers Growth Multi-Manager FMELX Close Harbor Capital Appreciation Institutional HACAX Strategic Advisers Income Opportunities FSADX Close Metropolitan West Total Return Bond Plan MWTSX of s Strategic Advisers International Multi- FMJDX Close T. Rowe Price Overseas Stock TROSX Manager Strategic Advisers Small Cap Multi- FNAPX Close Vanguard Extended Market Index I VIEIX Manager Strategic Advisers Value Multi-Manager FKMOX Close JHancock Disciplined Value R6 JDVWX 11

12 Vanguard Investment Options Current Vanguard Investment Option Vanguard 500 Index VFINX Vanguard Institutional Index I Vanguard Treasury Money Market VUSXX Close CREF Money Market R2 QCMMPX Vanguard Balanced Index VBINX Close Age-based Vanguard Target Retirement VINIX Vanguard Capital Opportunity VHCOX Close Harbor Capital Appreciation Institutional HACAX Vanguard Capital Value VCVLX Close Vanguard Institutional Index I VINIX Vanguard Convertible Securities VCVSX Close Age-based Vanguard Target Retirement Vanguard Developed Markets Index VDVIX Close Vanguard Total International Stock Index VTIAX Vanguard Diversified Equity VDEQX Close Harbor Capital Appreciation Institutional HACAX Vanguard Dividend Appreciation Index VDAIX Close Vanguard Institutional Index I VINIX Vanguard Dividend Growth VDIGX Close Vanguard Institutional Index I VINIX Vanguard Emerging Mkts Stock Index VEIEX Close DFA Emerging Markets Core Equity I DFCEX Vanguard Energy VGENX Close Age-based Vanguard Target Retirement Vanguard Equity-Income VEIPX Close JHancock Disciplined Value R6 JDVWX Vanguard European Stock Index VEURX Close Age-based Vanguard Target Retirement Vanguard Explorer VEXPX Vanguard Extended Market Index Vanguard FTSE All-World ex-us Index Vanguard FTSE All-World ex-us Small Cap Index VEXMX Vanguard Explorer Vanguard Extended Market Index I VFWIX Close Vanguard Total International Stock Index VFSVX Close Vanguard Total International Stock Index VEXRX VIEIX VTIAX VTIAX Vanguard FTSE Social Index VFTSX Close Harbor Capital Appreciation Institutional HACAX Vanguard Global Equity VHGEX Close Age-based Vanguard Target Retirement Vanguard GNMA VFIIX Close Metropolitan West Total Return Bond Plan MWTSX Vanguard Growth & Income VQNPX Close Vanguard Institutional Index I VINIX Vanguard Growth Index VIGRX Close Harbor Capital Appreciation Institutional HACAX Vanguard Health Care VGHCX Close Age-based Vanguard Target Retirement Vanguard High Dividend Yield Index VHDYX Close JHancock Disciplined Value R6 JDVWX Vanguard High-Yield Corporate VWEHX Close Metropolitan West Total Return Bond Plan MWTSX 12

13 Vanguard Investment Options Current Vanguard Investment Option Vanguard Inflation-Protected Secs Vanguard Interm-Term Bond Index Vanguard Interm-Term Investment-Grade VIPSX Vanguard Inflation-Protected Securities VBIIX Close Vanguard Total Bond Market Index VFICX Close Metropolitan West Total Return Bond Plan Vanguard Interm-Term Treasury VFITX Close Metropolitan West Total Return Bond Plan VAIPX VBTLX MWTSX MWTSX Vanguard International Explorer VINEX Close American s EuroPacific Growth R6 RERGX Vanguard International Growth VWIGX Close American s EuroPacific Growth R6 RERGX Vanguard International Value VTRIX Close T. Rowe Price Overseas Stock TROSX Vanguard Large Cap Index VLACX Close Vanguard Institutional Index I VINIX Vanguard LifeStrategy Conservative Growth VSCGX Close Age-based Vanguard Target Retirement Vanguard LifeStrategy Growth VASGX Close Age-based Vanguard Target Retirement Vanguard LifeStrategy Income VASIX Close Age-based Vanguard Target Retirement Vanguard LifeStrategy Moderate Growth Vanguard Long-Term Bond Index Vanguard Long-Term Investment-Grade VSMGX Close Age-based Vanguard Target Retirement VBLTX Close Age-based Vanguard Target Retirement VWESX Close Metropolitan West Total Return Bond Plan Vanguard Long-Term Treasury VUSTX Close Age-based Vanguard Target Retirement MWTSX Vanguard Mid Cap Growth VMGRX Close Eagle Mid Cap Growth R6 HRAUX Vanguard Mid Cap Index VIMSX Close Vanguard Extended Market Index I VIEIX Vanguard Mid-Cap Growth Index VMGIX Close Eagle Mid Cap Growth R6 HRAUX Vanguard Mid-Cap Value Index VMVIX Close MFS Mid Cap Value R5 MVCKX Vanguard Morgan Growth VMRGX Close Harbor Capital Appreciation Institutional HACAX Vanguard Pacific Stock Index VPACX Close Age-based Vanguard Target Retirement Vanguard Precious Metals and Mining VGPMX Close Age-based Vanguard Target Retirement Vanguard Prime Money Market VMMXX Close CREF Money Market R2 QCMMPX Vanguard PRIMECAP Core VPCCX Close Harbor Capital Appreciation Institutional HACAX Vanguard PRIMECAP VPMCX Close Harbor Capital Appreciation Institutional HACAX Vanguard REIT Index VGSIX Close Age-based Vanguard Target Retirement Vanguard Selected Value VASVX Close MFS Mid Cap Value R5 MVCKX 13

14 Vanguard Investment Options Current Vanguard Investment Option Vanguard Short-Term Bond Index VBISX Close CREF Money Market R2 Vanguard Short-Term Federal VSGBX Close CREF Money Market R2 QCMMPX Vanguard Short-Term Investment-Grade VFSTX Close CREF Money Market R2 QCMMPX Vanguard Short-Term Treasury VFISX Close CREF Money Market R2 QCMMPX Vanguard Small Cap Growth Index VISGX Close Vanguard Explorer VEXRX Vanguard Small Cap Index NAESX Close Vanguard Extended Market Index I VIEIX Vanguard Small Cap Value Index VISVX Close Goldman Sachs Small Cap Value Institutional Vanguard STAR VGSTX Close Age-based Vanguard Target Retirement Vanguard Strategic Equity VSEQX Close Vanguard Extended Market Index I VIEIX Vanguard Target Retirement 2010 Vanguard Target Retirement 2015 Vanguard Target Retirement 2020 Vanguard Target Retirement 2025 Vanguard Target Retirement 2030 Vanguard Target Retirement 2035 Vanguard Target Retirement 2040 Vanguard Target Retirement 2045 Vanguard Target Retirement 2050 Vanguard Target Retirement 2055 Vanguard Target Retirement 2060 Vanguard Target Retirement Income Vanguard Total Bond Market Index VTENX VTXVX VTWNX VTTVX VTHRX VTTHX VFORX VTIVX VFIFX VFFVX VTTSX VTINX VBMFX Vanguard Total Intl Stock Index VGTSX Vanguard Target Retirement 2010 Vanguard Target Retirement 2015 Vanguard Target Retirement 2020 Vanguard Target Retirement 2025 Vanguard Target Retirement 2025 Vanguard Target Retirement 2035 Vanguard Target Retirement 2040 Vanguard Target Retirement 2045 Vanguard Target Retirement 2050 Vanguard Target Retirement 2055 Vanguard Target Retirement 2060 Vanguard Target Retirement Income Vanguard Total Bond Market Index Vanguard Total International Stock Index GSSIX VTENX VTXVX VTWNX VTTVX VTHRX VTTHX VFORX VTIVX VFIFX VFFVX VTTSX VTINX VBTLX VTIAX 14

15 Vanguard Investment Options Current Vanguard Investment Option Vanguard Total Stock Market Index Vanguard Total World Stock Index VTSMX Close Vanguard Institutional Index I VINIX VTWSX Close Age-based Vanguard Target Retirement Vanguard US Growth VWUSX Close Harbor Capital Appreciation Institutional HACAX Vanguard US Value VUVLX Close JHancock Disciplined Value R6 JDVWX Vanguard Value Index VIVAX Close JHancock Disciplined Value R6 JDVWX Vanguard Wellesley Income VWINX Close Age-based Vanguard Target Retirement Vanguard Wellington VWELX Close Age-based Vanguard Target Retirement Vanguard Windsor II VWNFX Close JHancock Disciplined Value R6 JDVWX Vanguard Windsor VWNDX Close JHancock Disciplined Value R6 JDVWX Vanguard Target Retirement s Birth Year Investment Name Vanguard Target Retirement Income VTINX Vanguard Target Retirement 2010 VTENX Vanguard Target Retirement 2015 VTXVX Vanguard Target Retirement 2020 VTWNX Vanguard Target Retirement 2025 VTTVX Vanguard Target Retirement 2030 VTHRX Vanguard Target Retirement 2035 VTTHX Vanguard Target Retirement 2040 VFORX Vanguard Target Retirement 2045 VTIVX Vanguard Target Retirement 2050 VFIFX Vanguard Target Retirement 2055 VFFVX 1993 Present Vanguard Target Retirement 2060 VTTSX 15

16 Distributions from 403(b) plans before age 59½, severance from employment, death, or disability may be prohibited, limited, and/or subject to substantial tax penalties. Different restrictions may apply to other types of plans. 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. You should consider the investment objectives, risks, charges, and expenses carefully before investing. Call or access for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal s Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations Teachers Insurance and Annuity Association of America-College Retirement Equities (TIAA-CREF), 730 Third Avenue, New York, NY C _ (01/16)