1. TIAA-CREF Lifecycle Index Funds: A Simple Choice
Participant Presentation
TIAA-CREF Lifecycle Funds: A Simple Choice
Good morning/afternoon!
My name is [NAME] and I’m with [ORGANIZATION NAME].
In today’s presentation I am going to discuss the opportunity to simplify your retirement plan investing process with an established and effective approach utilizing TIAA-CREF’S Lifecycle Index Funds.
This presentation is about 20 minutes long and we will be including some additional handouts to provide additional details about the funds.
We’ll leave about minutes at the end for questions.
So with that said, let’s get started!

2. Are Not Bank Guaranteed
Bank of America Corporation (“Bank of America”) is a financial holding company that, through its subsidiaries and affiliated companies, provides banking and investment products and other financial services .
Merrill Lynch, Pierce, Fenner & Smith Incorporated is a wholly-owned subsidiary of Bank of America Corporation, and a registered broker-dealer and member of FINRA and SIPC.
Investment products provided by Merrill Lynch, Pierce, Fenner & Smith, Incorporated:
The views and opinions expressed in this presentation are not necessarily those of Bank of America Corporation; Merrill Lynch, Pierce, Fenner & Smith Incorporated; or any affiliates.
Nothing discussed or suggested in these materials should be construed as permission to supersede or circumvent any Bank of America, Merrill Lynch, Pierce, Fenner & Smith Incorporated policies, procedures, rules, and guidelines.
Merrill Lynch, Pierce, Fenner & Smith Incorporated is not a tax or legal advisors. Clients should consult a personal tax or legal advisor prior to making any tax or legal related investment decisions.
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
Review Slide with participants.

3. Life is a series of decisions…
Who is picking up the kids?
Where should we eat tonight?
Life is a series of decisions…
When you really start to think about it, our lives are really made up of a series of decisions and choices.
Every day, each one of us is faced with dozens of decisions that affect all aspects of our lives: decisions we make at work, at home, with our family, our friends and even with strangers.
But the choices that we make are really what make us who we are and they define the life that we lead.
And, these choices add up to what we care about, how we spend our time (which is the most precious resource we have) what matters to us and what makes a difference in our lives.

4. Everyday challenge: Savings vs. spending
Everyday challenges: Saving vs. spending
These decisions that we make also apply to how we allocate our financial resources.
They drive how much do we spend and how much we save.
These decisions are important because of the long-term effects they have on both our short-term as well as our ling term financial security.
Save?
Spend?

5. Retirement savings choices are important too
How do I choose my investments?
…Among the many, many options available
Retirement savings choices are important too.
… including our retirement savings planning.
Importantly, it is not just how much we save for retirement, but what the right investments are for your retirement plan at your specific life and career stage.
And to make matters more challenging, there are an incredible array of investing options available to choose from.
…Which makes it difficult to decide which investment approach is right for you.

6. Solution: TIAA-CREF Lifecycle Index Funds
Lifecycle Index Funds remove the complexity of deciding which investing option is right for you and offer age-appropriate solutions to help you save during your working years and into retirement.
Lifecycle Index Funds
Diversified mutual funds where asset allocation is automatically adjusted over time.
Sometimes called “target-date” funds, since you chose the fund that most closely matches your retirement (“target”) date.
Managed by TIAA investment professionals who aim for a high total return over time while maintaining a risk-managed exposure.
Draw on TIAA’s decades of asset allocation experience.
Solution: TIAA-CREF Lifecycle Index Funds
At TIAA we have understand the complexities of retirement planning decisions. And we think our Lifecycle Index Funds can help.
Lifecycle Index Funds take the complexity of of deciding which investment approach is right for you.
What is a Lifecycle Index Fund?
An age-appropriate, diversified mutual fund where the asset allocation (such as stocks and bonds) within the fund is automatically adjusted over time to become more conservative as retirement nears, and continues to become more conservative during retirement.
It is sometimes called a ”target-date” fund, since you chose the fund that most closely matches your retirement date (the “target-date”).
Is managed by a professional investment team who aims for a high total return over time while maintaining a diversified, risk-managed exposure across a wide range of asset classes.
Consists of a series of target-date funds in 5-year increments that seek to deliver competitive, risk-adjusted returns through your working years and into retirement.
Draw on TIAA’s decades of asset allocation experience and offer age-appropriate asset allocation portfolios to help you save during your working years and into retirement.
The target-date is the approximate date when investors plan to start withdrawing their money. The principal value of the fund(s) is not guaranteed at any time, including at the target-date.

7. How do Lifecycle Index Funds work?
Choose the fund with the date that is closest to when you expect to retire.
How do Lifecycle Index Funds work?
It is easy.
All you need to do is simply choose the Lifecycle Index Fund fund with the date that is closest to when you expect to retire.
And with this single choice, you set in motion a complete retirement investment planning process.

8. Lifecycle Index Funds process
Fund Portfolio Manager selects the right investment mix for your fund.
Lifecycle Index Funds process
Once you choose your retirement date, the Lifecycle Index Fund investment process starts.
First, the TIAA Investments Portfolio Manager selects the right investment mix for your fund.
They do this by choosing different combinations of passive investments from a range of different asset classes like stocks and bonds.
The Portfolio Manager decisions are driven by combining four critical factors:
Their expert knowledge of the markets.
The analysis of decades of historical investment performance.
Future market expectations.
TIAA’s insight gained over decades to meeting individual retirement planning and investing needs.
Expert market knowledge
Historical investment performance
Future expectations insights
Insight into individual retirement needs

9. Lifecycle Index Funds key feature
Continual review
and refinement over time…
Lifecycle Index Funds key feature
TIAA’s investment process seeks to help grow your investments during periods of retirement savings and then seeks to maximize the opportunity for income in your retirement years.
The TIAA Investments Portfolio Manager continually reviews and refines the Fund’s underlying investments to help smooth out the inevitable ups and downs of the market.
As a result, your Fund’s investment mix is adjusted automatically as you age.
Your TIAA fund manager and the Fund’s investments focus on growth when you are younger and gradually shift to more conservative investments as you approach retirement.
This ongoing evaluation and readjustment process is the key feature of Lifecycle Index Funds and is a real advantage of do-it-yourself retirement investing.
Quite simply, It provides a simple choice for a long-term solution.
…Investment mix
Is adjusted accordingly

10. Hypothetical changes as you move towards retirement
Asset allocation glide path for TIAA-CREF Lifecycle Index Funds
Short-Term Fixed Income
Inflation-Protected Assets
Inflation-Protected Assets
Short-Term Fixed Income
Fixed Income
International Equity
Fixed Income
U.S. Equity
International Equity
Glidepath profile allocations
Hypothetical changes as you move towards retirement
To illustrate how the Lifecycle Index Fund investing process works, we have a few hypothetical portfolios at different career and life stages.
Younger investors just starting out will more likely have a portfolio comprised of a higher percentage of equities vs. fixed income. This is represented on the left side of the chart.
However, as you age, the TIAA Portfolio Manager gradually reassesses and reallocates your assets to maximize risk-adjusted growth on your way to retirement.
At your retirement date, noted as 0 in the chart and table, the asset allocation is evenly split between equities and fixed income investments and then, once in retirement, the focus is on delivering income, and the allocation shifts to a higher percentage of fixed income investments.
Years to Retirement
Equity
Fixed Income 45
95.0%
5.0% 25
90.0%
10.0% 15
73.0%
27.0%
50.0%
-10 and beyond
40.0%
60.0%
Source: TIAA Global Asset Management
*The above chart represents the strategic asset allocation progression of one of a series of multi-asset class portfolios with target retirement dates at 5-year intervals. Asset allocations represent the exposures sought at the given number of years before the maturity of the fund and are not actual mutual fund exposures. Allocations are presented for information only and may not represent the actual allocation at the time of investment.

11. TIAA‑CREF Lifecycle Index Funds reflect TIAA’s time-tested investing principles
Nearly 100 year history as an investment services provider
Pre-retirement wealth accumulation and maximizing opportunity for income during retirement
Diversification within and across asset classes
Low costs in relation to industry peers*
Carefully managed risk appropriate to investor’s time horizon
Underlying security selection relies on proprietary quantitative models that seek to minimize risk and trading costs
TIAA‑CREF Lifecycle Index Funds reflect our time-tested approach to investing
TIAA’s approach to target-date fund investing reflects the investment principles that we have found to be of most value throughout our more than 90 year history as an investment services provider:
Focus on accumulating wealth during pre-retirement years while maximizing opportunity for income during retirement years
Diversification within and across asset classes.
Low costs in relation to industry peers.
Carefully managed risk that is appropriate to each investor’s time horizon to retirement and each individual’s ability to withstand periods of market volatility.
Underlying security selection relies on proprietary quantitative models that seek to minimize risk and trading costs.
* Morningstar Direct (December 31, 2016). The expense ratio on the TIAA-CREF Lifecycle Index Funds, institutional class, fall into the lowest quintile in terms of fees. Rankings are based on total returns as of 12/31/16, other periods may have less favorable rankings.

12. Lifecycle Index Fund benefits to you
Makes saving for retirement easier…
Play
Lifecycle Index Fund benefits
TIAA-CREF’s Lifecycle Index Fund investing process is designed to make it easy for you to reduce the complexity and make the right retirement investing decisions.
So you can spend more time focused on the things that are important to you.
Volunteer
…So you can enjoy it more.

13. How to take the next step…
If you’re not currently enrolled in your retirement savings plan...
If you’re already enrolled in the plan...
Enroll using the procedures established by your plan.
Pick your retirement date and select the TIAA-CREF Lifecycle Index Fund closest to that date.
Transfer your current balance to the fund.
Direct your contributions into your fund.
Direct your future contributions into your fund.
How to take the next step
Are you ready to get started? If you’re not currently enrolled in your retirement savings plan...
Enroll in the plan using the procedures established by your plan
Pick your retirement date and select the TIAA-CREF Lifecycle Index Fund closest to that date
Direct your contributions into your fund
If you’re already enrolled in the plan...
Transfer your current balance to the fund
Direct your future contributions into your fund
Looking for additional information or want to take a closer look at YOUR fund? Visit /blend for more information.
Look for additional information or want to take a closer look at YOUR fund?

14. A WORD ON RISK
Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved and the target date is an approximate date when investors may begin withdrawing from the Fund. Target-date mutual funds are actively managed, so the asset allocation is subject to change and may vary from that shown and after the target date has been reached, the Fund may be merged into another with a more stable asset allocation. A portfolio that tracks an index is subject to the risk that it may not fully track its index closely due to security selection and may underperform when factoring in fees, expenses, transaction costs, and the size and timing of shareholder purchases and redemptions. The Fund is a fund of funds subject to the risks of its underlying funds in proportion to each Fund's allocation. These risks include those of fixed-income underlying funds risks which may be susceptible to general movements in the bond market and are subject to credit and interest rate risks as well as those of equity underlying funds risks, such as foreign investment and issuer risks. Credit risk arises from an issuer's ability to make interest and principal payments when due, as well as the prices of bonds declining when an issuer's credit quality is expected to deteriorate. Interest rate risk occurs when interest rates rise causing bond prices to fall. The Fund's income could decline during periods of falling interest rates. Non-U.S. investments involve risks such as currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These fixed-income underlying funds risks, such as call, extension, and income volatility risks as well as other risk considerations, such as active management risk and equity underlying funds risks, are described in detail in the Fund's prospectus.

15. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.
Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from Nuveen at or visit nuveen.com.
Nuveen, LLC, formerly known as TIAA Global Asset Management, delivers the expertise of TIAA Investments and its independent investment affiliates. Securities offered through Nuveen Securities, LLC, Member FINRA and SIPC.
INV-Y-03/18