New TIAA-CREF Articles Educate Investors on How to Maximize Retirement Income

Business Wire, June 18, 2008

Retirement Literacy Series to Focus on Strategies for Making Savings Last a Lifetime

NEW YORK -- TIAA-CREF has published the first in a new series of articles that explores strategies for maximizing retirement income.

The first article in the series, "Myth vs. Fact: Systematic Withdrawals vs. Income Annuity Payments," addresses the common misconception that a series of systematic withdrawals is a more efficient way to provide retirement income than an annuity payment, which may not necessarily be the case.

The article examines managing "longevity risk," the possibility of running out of retirement savings if one lives longer than expected, and the use of an annuity as a tool that can help ensure income for life.*

"This information can help investors make fact-based decisions about their options regarding the conversion of retirement savings, and provide guidance on how to help maximize and extend income during retirement," said Maliz Beams, TIAA-CREF's Executive Vice President for Individual Client Services. "When it comes to the goal of maximizing retirement income and achieving lifetime financial security, it is important to have a plan that is informed by objective, personalized advice and the facts."

The new series will feature additional articles that draw on TIAA-CREF's 90 years of expertise in providing lifetime income. Other topics in the series designed to promote retirement literacy include: exploring the concepts of retirement income, the importance of objective and non-commissioned** advice, and financial planning for spending down in retirement.

TIAA-CREF serves more than 3.4 million active and retired participants and more than 15,000 institutions. Over 500,000 TIAA-CREF participants received a combined $10 billion in annual payments from the organization in 2007.

Learn More

* To schedule an appointment with a TIAA-CREF consultant near you, please sign up online or call 1 800 842-2776.

* Visit our Learning Center, which can help you get the information you need to create your plan for the financial future you want -- and put that plan into action.

*Annuity guarantees are based on the claims paying ability of the issuer.

** Our Advisors receive no commissions. They are compensated through a salary plus incentive program that focuses on client service excellence.

You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1 877 518-9161, or go to www.tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity products are issued by TIAA (Teachers Insurance and Annuity Association), New York, NY. Advice and Planning Services is a division of TIAA-CREF Individual & Institutional Services, LLC.

About TIAA-CREF

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with $420 billion in combined assets under management (3/31/08).

Investing involves risk, including possible loss of principal.

(c)2008 Teachers Insurance and Annuity Association-College Retirement Equities Fund, New York, NY 10017.

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