New Class of Mutual Funds at TIAA-CREF

Lower Management Expenses

Indiana University is pleased to announce a new class of mutual funds at TIAA-CREF with significantly lower management expenses, effective October 29, 2010. This new class of funds will only be available to a limited number of institutions.

Mutual funds in this new Institutional Share Class have the same investment strategies as the funds currently on the investment menu, but with lower management expenses. Reduced fund expenses provide more earning potential for participant retirement accounts.

During the weekend of October 30, 2010, existing mutual fund balances will be moved to the new, lower-cost class of funds automatically. Balances will simply be transferred, and no change will be made to current allocations.

Participants do not need to take any action—the quarterly statement will record any transfers to the new class of mutual funds. Details of these changes are being sent to participants, including a list of
investment choices.

For more information on these new investment options or to discuss investment allocation, contact TIAA-CREF’s Telephone Counseling Center at 800 842-2252 or schedule an appointment with a consultant, either via phone or at a TIAA-CREF office by calling 800 732-8353. Additional information is at www.tiaa-cref.org/indiana.

Examples: