0000930413-12-005763.txt : 20121016 0000930413-12-005763.hdr.sgml : 20121016 20121016143727 ACCESSION NUMBER: 0000930413-12-005763 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121016 DATE AS OF CHANGE: 20121016 EFFECTIVENESS DATE: 20121016 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIAA-CREF FUNDS CENTRAL INDEX KEY: 0001084380 IRS NUMBER: 134055167 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-76651 FILM NUMBER: 121146034 BUSINESS ADDRESS: STREET 1: 730 THIRD AVE. CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2129166746 MAIL ADDRESS: STREET 1: 730 THIRD AVE. CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: TIAA CREF INSTITUTIONAL MUTUAL FUNDS DATE OF NAME CHANGE: 19990415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIAA-CREF FUNDS CENTRAL INDEX KEY: 0001084380 IRS NUMBER: 134055167 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-09301 FILM NUMBER: 121146035 BUSINESS ADDRESS: STREET 1: 730 THIRD AVE. CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2129166746 MAIL ADDRESS: STREET 1: 730 THIRD AVE. CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: TIAA CREF INSTITUTIONAL MUTUAL FUNDS DATE OF NAME CHANGE: 19990415 0001084380 S000005375 TIAA-CREF Lifecycle 2010 Fund C000014639 Retirement Class TCLEX C000047972 Institutional Class TCTIX C000079559 Premier Class TCTPX 0001084380 S000005376 TIAA-CREF Lifecycle 2015 Fund C000014640 Retirement Class TCLIX C000047973 Institutional Class TCNIX C000079560 Premier Class TCFPX 0001084380 S000005377 TIAA-CREF Lifecycle 2020 Fund C000014641 Retirement Class TCLTX C000047974 Institutional Class TCWIX C000079561 Premier Class TCWPX 0001084380 S000005378 TIAA-CREF Lifecycle 2025 Fund C000014642 Retirement Class TCLFX C000047975 Institutional Class TCYIX C000079562 Premier Class TCQPX 0001084380 S000005379 TIAA-CREF Lifecycle 2030 Fund C000014643 Retirement Class TCLNX C000047976 Institutional Class TCRIX C000079563 Premier Class TCHPX 0001084380 S000005380 TIAA-CREF Lifecycle 2035 Fund C000014644 Retirement Class TCLRX C000047977 Institutional Class TCIIX C000079564 Premier Class TCYPX 0001084380 S000005382 TIAA-CREF Lifecycle 2040 Fund C000014647 Retirement Class TCLOX C000047978 Institutional Class TCOIX C000079566 Premier Class TCZPX 0001084380 S000012194 TIAA-CREF Managed Allocation Fund C000033271 Retail Class TIMRX C000033272 Retirement Class TITRX C000033273 Institutional Class TIMIX 0001084380 S000019659 TIAA-CREF Lifecycle 2045 Fund C000054991 Institutional Class TTFIX C000054992 Retirement Class TTFRX C000079575 Premier Class TTFPX 0001084380 S000019660 TIAA-CREF Lifecycle 2050 Fund C000054993 Institutional Class TFTIX C000054994 Retirement Class TLFRX C000079576 Premier Class TCLPX 0001084380 S000019661 TIAA-CREF Lifecycle Retirement Income Fund C000054995 Retail Class TLRRX C000054996 Institutional Class TLRIX C000054997 Retirement Class TLIRX C000079577 Premier Class TPILX 0001084380 S000026498 TIAA-CREF Lifecycle Index 2010 Fund C000079517 Institutional Class TLTIX C000079518 Premier Class TLTPX C000079519 Retirement Class TLTRX 0001084380 S000026499 TIAA-CREF Lifecycle Index Retirement Income Fund C000079520 Institutional Class TRILX C000079521 Premier Class TLIPX C000079522 Retirement Class TRCIX 0001084380 S000026501 TIAA-CREF Lifecycle Index 2015 Fund C000079527 Institutional Class TLFIX C000079528 Premier Class TLFPX C000079529 Retirement Class TLGRX 0001084380 S000026502 TIAA-CREF Lifecycle Index 2020 Fund C000079530 Institutional Class TLWIX C000079531 Premier Class TLWPX C000079532 Retirement Class TLWRX 0001084380 S000026503 TIAA-CREF Lifecycle Index 2025 Fund C000079533 Institutional Class TLQIX C000079534 Premier Class TLVPX C000079535 Retirement Class TLQRX 0001084380 S000026504 TIAA-CREF Lifecycle Index 2030 Fund C000079536 Institutional Class TLHIX C000079537 Premier Class TLHPX C000079538 Retirement Class TLHRX 0001084380 S000026505 TIAA-CREF Lifecycle Index 2035 Fund C000079539 Institutional Class TLYIX C000079540 Premier Class TLYPX C000079541 Retirement Class TLYRX 0001084380 S000026506 TIAA-CREF Lifecycle Index 2040 Fund C000079542 Institutional Class TLZIX C000079543 Premier Class TLPRX C000079544 Retirement Class TLZRX 0001084380 S000026507 TIAA-CREF Lifecycle Index 2045 Fund C000079545 Institutional Class TLXIX C000079546 Premier Class TLMPX C000079547 Retirement Class TLMRX 0001084380 S000026508 TIAA-CREF Lifecycle Index 2050 Fund C000079548 Institutional Class TLLIX C000079549 Premier Class TLLPX C000079550 Retirement Class TLLRX 0001084380 S000031926 TIAA-CREF LIFECYCLE INDEX 2055 FUND C000099413 RETIREMENT CLASS TTIRX C000099414 INSTITUTIONAL CLASS TTIIX C000099415 PREMIER CLASS TTIPX 0001084380 S000031927 TIAA-CREF LIFECYCLE 2055 FUND C000099416 RETIREMENT CLASS TTRLX C000099417 INSTITUTIONAL CLASS TTRIX C000099418 PREMIER CLASS TTRPX 0001084380 S000034958 TIAA-CREF Lifestyle Aggressive Growth Fund C000107517 Institutional Class TSAIX C000107518 Premier Class TSAPX C000107519 Retail Class TSALX C000107520 Retirement Class TSARX 0001084380 S000034959 TIAA-CREF Lifestyle Conservative Fund C000107521 Institutional Class TCSIX C000107522 Premier Class TLSPX C000107523 Retail Class TSCLX C000107524 Retirement Class TSCTX 0001084380 S000034960 TIAA-CREF Lifestyle Growth Fund C000107525 Premier Class TSGPX C000107526 Retail Class TSGLX C000107527 Retirement Class TSGRX C000107528 Institutional Class TSGGX 0001084380 S000034961 TIAA-CREF Lifestyle Income Fund C000107529 Institutional Class TSITX C000107530 Premier Class TSIPX C000107531 Retail Class TSILX C000107532 Retirement Class TLSRX 0001084380 S000034962 TIAA-CREF Lifestyle Moderate Fund C000107533 Institutional Class TSIMX C000107534 Premier Class TSMPX C000107535 Retail Class TSMLX C000107536 Retirement Class TSMTX 485BPOS 1 c70788_485bpos.htm

As filed with the Securities and Exchange Commission on October 16, 2012
File Nos. 333-76651, 811-09301

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-1A

     
  REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 x
  Pre-Effective Amendment No. o
  Post-Effective Amendment No. 63 x
  and/or  
  REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT x
  OF 1940  
  Amendment No. 66 x
  (Check appropriate box or boxes)  

TIAA-CREF Funds
(Exact Name of Registrant as Specified in Charter)

730 Third Avenue
New York, New York 10017-3206
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (800) 842-2733

Stewart P. Greene, Esq.
TIAA-CREF Funds
730 Third Avenue
New York, New York 10017-3206
(Name and Address of Agent for Service)

Copy to:
Jeffrey S. Puretz, Esq.
Dechert LLP
1775 I Street, N.W.
Washington, D.C. 20006-2401

Approximate Date of Proposed Public Offering:
As soon as practicable after effectiveness of the Registration Statement.

It is proposed that this filing will become effective (check appropriate box):

o Immediately upon filing pursuant to paragraph (b)

x On October 16, 2012 pursuant to paragraph (b)

o 60 days after filing pursuant to paragraph (a)(1)

o 75 days after filing pursuant to paragraph (a)(2)

o On (date) pursuant to paragraph (a)(1)

o On (date) pursuant to paragraph (a)(2) of rule 485

If appropriate, check the following box:

o This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

Explanatory Note

This post-effective amendment on Form 485BPOS is being submitted for the sole purpose of furnishing, in Exhibit 101, XBRL Interactive Data for the related official 485BPOS filing which was submitted to the Commission on September 28, 2012.

No other changes have been made to the Form 485BPOS. This Form 485BPOS does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update any related disclosures made in the related official Form 485BPOS.

Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, TIAA-CREF Funds certifies that it meets all the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of New York, and State of New York on the 16 day of October, 2012.

   
  TIAA-CREF FUNDS
     
  By:  /s/ Roger W. Ferguson, Jr.  
  Name: Roger E. Ferguson, Jr.
  Title: Principal Executive Officer and President

Pursuant to the requirements of the Securities Act, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

     
Signature               Title                           Date            
     
/s/ Roger W. Ferguson, Jr.   Principal Executive Officer and President October 16, 2012
Roger W. Ferguson, Jr. (Principal Executive Officer)  
     
/s/ Phillip G. Goff   Principal Financial Officer, October 16, 2012
Phillip G. Goff Principal Accounting Officer and Treasurer  
  (Principal Financial and Accounting Officer)  
               

 

 

SIGNATURE OF TRUSTEE   DATE   SIGNATURE OF TRUSTEE   DATE
             
             
*   October  16,  2012   *   October  16,  2012
Forrest Berkley       Thomas J. Kenny    
             
*   October  16,  2012   *   October  16,  2012
Nancy Eckl       Bridget A. Macaskill    
             
*   October  16,  2012   *   October  16,  2012
Michael A. Forrester       James M. Poterba    
             
*   October  16,  2012   *   October  16,  2012
Howell E. Jackson       Maceo K. Sloan    
             
*   October  16,  2012   *   October  16,  2012
Nancy L. Jacobs       Laura T. Starks    
             
             
/s/ Stewart P. Greene   October  16,  2012        
Stewart P. Greene            
as attorney-in-fact            
             

* Signed by Stewart P. Greene pursuant to powers of attorney previously filed with the Securities and Exchange Commission.

 

EXHIBIT LIST

 

 

101.     INS XBRL Instance Document

101.     SCH XBRL Taxonomy Extension Schema

101.     DEF XBRL Taxonomy Extension Definition Linkbase

101.     LAB XBRL Taxonomy Extension Label Linkbase

101.     PRE XBRL Taxonomy Extension Presentation Linkbase

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cik0001084380:C000107533Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034960Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034960Member cik0001084380:C000107526Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034960Member cik0001084380:C000107527Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034960Member cik0001084380:C000107525Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034960Member cik0001084380:C000107528Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034958Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034958Member cik0001084380:C000107519Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034958Member cik0001084380:C000107520Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034958Member cik0001084380:C000107518Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000034958Member cik0001084380:C000107517Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member cik0001084380:C000033273Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member rr:AfterTaxesOnDistributionsMember cik0001084380:C000033273Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member rr:AfterTaxesOnDistributionsAndSalesMember cik0001084380:C000033273Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member cik0001084380:C000033271Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member cik0001084380:C000033272Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member cik0001084380:index__Russell_3000_Index_reflects_no_deductions_for_fees_expenses_or_taxes_Member 2012-06-30 2012-06-30 0001084380 cik0001084380:S000012194Member cik0001084380:index__Managed_Allocation_Fund_Composite_Index_reflects_no_deductions_for_fees_expenses_or_taxes_Member 2012-06-30 2012-06-30 xbrli:pure iso4217:USD The performance shown for the Premier Class that is prior to its inception date is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Retirement Income Fund Composite Index consisted of: 40.0% Barclays U.S. Aggregate Bond Index; 30.0% Russell 3000 Index; 10.0% MSCI EAFE + Emerging Markets Index; 10.0% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 10.0% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retail Class of the Fund has adopted a Distribution (12b-1) Plan that pays the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retail Class shares at the annual rate of up to 0.25% of average daily net assets attributable to Retail Class shares. The fees shown in the chart have been restated to reflect current fees. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that pays the Fund's distributor, TPIS, for providing distribution, promotional and/or shareholder services to the Retirement Class shares at the annual rate up to 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retail Class shares; (ii) 0.25% of average daily net assets for Retirement Class shares; (iii) 0.15% of average daily net assets for Premier Class shares; and (iv) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2010 Fund Composite Index consisted of: 38.3% Barclays U.S. Aggregate Bond Index; 36.4% Russell 3000 Index; 12.1% MSCI EAFE + Emerging Markets Index; 6.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 6.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2015 Fund Composite Index consisted of: 41.7% Russell 3000 Index; 35.2% Barclays U.S. Aggregate Bond Index; 13.9% MSCI EAFE + Emerging Markets Index; 4.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 4.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2020 Fund Composite Index consisted of: 47.7% Russell 3000 Index; 31.2% Barclays U.S. Aggregate Bond Index; 15.9% MSCI EAFE + Emerging Markets Index; 2.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 2.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2025 Fund Composite Index consisted of: 53.7% Russell 3000 Index; 27.2% Barclays U.S. Aggregate Bond Index; 17.9% MSCI EAFE + Emerging Markets Index; 0.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 0.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2030 Fund Composite Index consisted of: 59.7% Russell 3000 Index; 19.9% MSCI EAFE + Emerging Markets Index; and 20.4% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2035 Fund Composite Index consisted of: 65.7% Russell 3000 Index; 21.9% MSCI EAFE + Emerging Markets Index; and 12.4% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Institutional Class and Premier Class that is prior to their inception dates is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Institutional Class and Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2040 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Premier Class that is prior to its inception date is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2045 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The performance shown for the Premier Class that is prior to its inception date is based on performance of the Fund's Retirement Class. The performance for these periods has not been restated to reflect the lower expenses of the Premier Class. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle 2050 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retirement Class shares; (ii) 0.15% of average daily net assets for Premier Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Advisors has contractually agreed to waive the Fund's Management Fees equal to, on an annual basis, 0.10%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index Retirement Income Fund Composite Index consisted of: 50.0% Barclays U.S. Aggregate Bond Index; 30.0% Russell 3000 Index; 10.0% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.05%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2010 Fund Composite Index consisted of: 44.9% Barclays U.S. Aggregate Bond Index; 36.4% Russell 3000 Index; 12.1% MSCI EAFE + Emerging Markets Index; and 6.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.04%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2015 Fund Composite Index consisted of: 41.7% Russell 3000 Index; 39.8% Barclays U.S. Aggregate Bond Index; 13.9% MSCI EAFE + Emerging Markets Index; and 4.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.03%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2020 Fund Composite Index consisted of: 47.7% Russell 3000 Index; 33.8% Barclays U.S. Aggregate Bond Index; 15.9% MSCI EAFE + Emerging Markets Index; and 2.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.03%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2025 Fund Composite Index consisted of: 53.7% Russell 3000 Index; 27.8% Barclays U.S. Aggregate Bond Index; 17.9% MSCI EAFE + Emerging Markets Index; and 0.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.02%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2030 Fund Composite Index consisted of: 59.7% Russell 3000 Index; 20.4% Barclays U.S. Aggregate Bond Index; and 19.9% MSCI EAFE + Emerging Markets Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2035 Fund Composite Index consisted of: 65.7% Russell 3000 Index; 21.9% MSCI EAFE + Emerging Markets Index; and 12.4% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2040 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2045 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Retirement Class. As of the close of business on December 31, 2011, the Lifecycle Index 2050 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. The Retirement Class of the Fund has adopted a Distribution (12b-1) Plan that compensates the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retirement Class shares at the annual rate of 0.05% of average daily net assets attributable to Retirement Class shares. In addition, TPIS has contractually agreed not to seek payment of this fee under the Plan for Retirement Class shares through September 30, 2013, unless changed with approval of the Board of Trustees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.35% of average daily net assets for Retirement Class shares; (ii) 0.25% of average daily net assets for Premier Class shares; and (iii) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. In addition to the expense reimbursement arrangements, Advisors has contractually agreed to waive a portion of the Fund's Management Fees equal to, on an annual basis, 0.01%. This waiver will remain in effect through September 30, 2013, unless changed with approval of the Board of Trustees. Other Expenses are estimates for the current fiscal year. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.49% of average daily net assets for Retail Class shares; (ii) 0.35% of average daily net assets for Retirement Class shares; (iii) 0.25% of average daily net assets for Premier Class shares; and (iv) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Other Expenses are estimates for the current fiscal year. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.49% of average daily net assets for Retail Class shares; (ii) 0.35% of average daily net assets for Retirement Class shares; (iii) 0.25% of average daily net assets for Premier Class shares; and (iv) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Other Expenses are estimates for the current fiscal year. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.49% of average daily net assets for Retail Class shares; (ii) 0.35% of average daily net assets for Retirement Class shares; (iii) 0.25% of average daily net assets for Premier Class shares; and (iv) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Other Expenses are estimates for the current fiscal year. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.49% of average daily net assets for Retail Class shares; (ii) 0.35% of average daily net assets for Retirement Class shares; (iii) 0.25% of average daily net assets for Premier Class shares; and (iv) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Other Expenses are estimates for the current fiscal year. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.49% of average daily net assets for Retail Class shares; (ii) 0.35% of average daily net assets for Retirement Class shares; (iii) 0.25% of average daily net assets for Premier Class shares; and (iv) 0.10% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. Performance is calculated from the inception date of the Institutional Class. As of the close of business on December 31, 2011, the Managed Allocation Fund Composite Index consisted of: 45.0% Russell 3000 Index; 40.0% Barclays U.S. Aggregate Bond Index; and 15.0% MSCI EAFE + Emerging Markets Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. The Retail Class of the Fund has adopted a Distribution (12b-1) Plan that pays the Fund's distributor, Teachers Personal Investors Services, Inc. ("TPIS"), for its expenses in providing distribution, promotional and/or shareholder services to Retail Class shares at the annual rate of up to 0.25% of average daily net assets attributable to Retail Class shares. The fees shown in the chart have been restated to reflect current fees. "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, Inc. ("Advisors"), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: (i) 0.25% of average daily net assets for Retail Class shares; (ii) 0.25% of average daily net assets for Retirement Class shares; and (iii) 0.00% of average daily net assets for Institutional Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2013, unless changed with approval of the Board of Trustees. TIAA-CREF FUNDS 485BPOS false 0001084380 2012-06-30 2012-09-28 2012-10-01 2012-10-01 TIAA-CREF Lifecycle Retirement Income Fund PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional, Retail and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle Retirement Income Fund -0.1749 0.1608 0.1044 0.0241 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20004 column dei_LegalEntityAxis compact cik0001084380_S000019661Member column rr_ProspectusShareClassAxis compact cik0001084380_C000054997Member row primary compact * ~ Best Quarter: 0.0888 2009-09-30 Worst Quarter: -0.0781 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0530 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 8.88%, for the quarter ended September 30, 2009. Worst quarter: -7.81%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 5.30%.</font> </p> 0.0241 0.0198 0.0151 0.0103 0.0169 0.0116 0.0278 0.0226 0.0247 0.0213 0.0264 0.0207 0.0784 0.0632 0.0403 0.0295 2009-09-30 2007-11-30 2007-11-30 2007-11-30 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20005 column dei_LegalEntityAxis compact cik0001084380_S000019661Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.7%"> &#160; </td> <td style="WIDTH: 54.11%"> &#160; </td> <td style="WIDTH: 15.01%"> &#160; </td> <td style="WIDTH: 1.8%"> &#160; </td> <td style="WIDTH: 8.26%"> &#160; </td> <td style="WIDTH: 2.71%"> &#160; </td> <td style="WIDTH: 1.8%"> &#160; </td> <td style="WIDTH: 9.94%"> &#160; </td> <td style="WIDTH: 3.68%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="9"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.7%"> &#160; </td> <td style="WIDTH: 54.11%"> &#160; </td> <td style="WIDTH: 15.01%"> &#160; </td> <td style="WIDTH: 1.8%"> &#160; </td> <td style="WIDTH: 8.26%"> &#160; </td> <td style="WIDTH: 2.71%"> &#160; </td> <td style="WIDTH: 1.8%"> &#160; </td> <td style="WIDTH: 9.94%"> &#160; </td> <td style="WIDTH: 3.68%"> &#160; </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="9"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="9"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="9"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. As of the close of business on December 31, 2011, the Lifecycle Retirement Income Fund Composite Index consisted of: 40.0% Barclays U.S. Aggregate Bond Index; 30.0% Russell 3000 Index; 10.0% MSCI EAFE + Emerging Markets Index; 10.0% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 10.0% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 65 65 55 40 261 263 221 173 473 477 401 318 1084 1095 922 741 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20003 column dei_LegalEntityAxis compact cik0001084380_S000019661Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15 0 0 0 0.0010 0.0010 0.0010 0.0010 0.0025 0.0005 0.0015 0.0016 0.0037 0.0012 0.0012 0.0039 0.0039 0.0039 0.0039 0.0090 0.0091 0.0076 0.0061 -0.0026 -0.0027 -0.0022 -0.0022 0.0064 0.0064 0.0054 0.0039 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact cik0001084380_S000019661Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20002 column dei_LegalEntityAxis compact cik0001084380_S000019661Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 The fees shown in the chart have been restated to reflect current fees. ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 13% of the average value of its portfolio. </p> 0.13 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle Retirement Income Fund seeks high total return over time primarily through income,</p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">with a secondary emphasis on capital appreciation. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). The Fund invests in Underlying Funds according to a relatively stable asset allocation strategy that will not gradually adjust over time and is designed for investors who are already in or entering retirement (i.e., have already passed their retirement year). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 40.00% of its assets to equity Underlying Funds and 60.00% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations may be changed and actual allocations may vary up to 10% from the targets. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which may change, are approximately as follows: U.S. Equity: 30.00%; International Equity: 10.00%; Fixed-Income: 40.00%; Short-Term Fixed-Income: 10.00%; and Inflation-Protected Assets: 10.00%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. Investors should note that the Fund has a significant level of equity exposure and this exposure could cause fluctuation in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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</td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 17.16%"> &#160; </td> <td style="WIDTH: 10.35%"> &#160; </td> <td style="WIDTH: 39.12%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: bold"> Total </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; 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There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2010 Fund 0.0423 0.0839 0.0920 -0.2357 0.1936 0.1153 0.0148 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20011 column dei_LegalEntityAxis compact cik0001084380_S000005375Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014639Member row primary compact * ~ Best Quarter: 0.1087 2009-06-30 Worst Quarter: -0.1104 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0569 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 10.87%, for the quarter ended June 30, 2009. Worst quarter: -11.04%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 5.69%.</font> </p> 0.0148 0.0243 0.0433 0.0069 0.0165 0.0344 0.0110 0.0168 0.0327 0.0169 0.0268 0.0450 0.0158 0.0247 0.0435 0.0784 0.0650 0.0549 0.0310 0.0278 0.0478 2004-10-15 2009-09-30 2007-01-17 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20012 column dei_LegalEntityAxis compact cik0001084380_S000005375Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2010 Fund Composite Index consisted of: 38.3% Barclays U.S. Aggregate Bond Index; 36.4% Russell 3000 Index; 12.1% MSCI EAFE + Emerging Markets Index; 6.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 6.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0029 0.0004 0.0004 0.0041 0.0041 0.0041 0.0085 0.0070 0.0055 -0.0019 -0.0014 -0.0014 0.0066 0.0056 0.0041 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20008 column dei_LegalEntityAxis compact cik0001084380_S000005375Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20009 column dei_LegalEntityAxis compact cik0001084380_S000005375Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 67 57 42 252 210 162 453 376 293 1031 857 676 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20010 column dei_LegalEntityAxis compact cik0001084380_S000005375Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 13% of the average value of its portfolio. </p> 0.13 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2010 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have recently retired or have an approximate target retirement year within a few years, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors who retired in 2010 or plan to retire within a few years of 2010. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 47.00% of its assets to equity Underlying Funds and 53.00% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative. The Fund had target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2010 and will reach the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2017 to 2020. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 35.25%; International Equity: 11.75%; Fixed-Income: 38.60%; Short-Term Fixed-Income: 7.20%; and Inflation-Protected Assets: 7.20%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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</td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>High-Yield Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 0.89% </p> </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>Bond Plus Fund </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 0.89% </p> </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Short-Term<br /> Fixed-Income </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; 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VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Inflation-Protected<br /> Assets </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 6.55% </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>Inflation-Linked Bond Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 6.55% </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 15.83%"> &#160; </td> <td style="WIDTH: 18.96%"> &#160; </td> <td style="WIDTH: 11.44%"> &#160; </td> <td style="WIDTH: 43.25%"> &#160; </td> <td style="WIDTH: 10.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: bold"> Total </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: center; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2015 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2015 Fund 0.0423 0.0940 0.0946 -0.2694 0.2132 0.1236 0.0046 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20018 column dei_LegalEntityAxis compact cik0001084380_S000005376Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014640Member row primary compact * ~ Best Quarter: 0.1239 2009-06-30 Worst Quarter: -0.1297 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0613 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 12.39%, for the quarter ended June 30, 2009. Worst quarter: -12.97%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 6.13%.</font> </p> 0.0046 0.0183 0.0418 -0.0054 0.0106 0.0330 0.0083 0.0122 0.0318 0.0074 0.0210 0.0437 0.0065 0.0189 0.0422 0.0103 -0.0001 0.0434 0.0233 0.0215 0.0462 2007-01-17 2009-09-30 2004-10-15 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20019 column dei_LegalEntityAxis compact cik0001084380_S000005376Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2015 Fund Composite Index consisted of: 41.7% Russell 3000 Index; 35.2% Barclays U.S. Aggregate Bond Index; 13.9% MSCI EAFE + Emerging Markets Index; 4.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 4.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0042 0.0042 0.0042 0.0085 0.0070 0.0055 -0.0018 -0.0013 -0.0013 0.0067 0.0057 0.0042 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20015 column dei_LegalEntityAxis compact cik0001084380_S000005376Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20016 column dei_LegalEntityAxis compact cik0001084380_S000005376Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 68 58 43 253 211 163 454 377 294 1032 858 677 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20017 column dei_LegalEntityAxis compact cik0001084380_S000005376Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 11% of the average value of its portfolio. </p> 0.11 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2015 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2015. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 53.20% of its assets to equity Underlying Funds and 46.80% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2015 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2022 to 2025. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 39.90%; International Equity: 13.30%; Fixed-Income: 36.40%; Short-Term Fixed-Income: 5.20%; and Inflation-Protected Assets: 5.20%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Inflation-Protected<br /> Assets </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 4.61% </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; 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VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: center; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2020 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2020 Fund 0.0477 0.1026 0.0922 -0.3033 0.2315 0.1315 -0.0052 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20025 column dei_LegalEntityAxis compact cik0001084380_S000005377Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014641Member row primary compact * ~ Best Quarter: 0.1385 2009-06-30 Worst Quarter: -0.1495 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0650 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 13.85%, for the quarter ended June 30, 2009. Worst quarter: -14.95%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 6.50%.</font> </p> -0.0052 0.0107 0.0387 -0.0140 0.0038 0.0304 0.0014 0.0062 0.0295 -0.0029 0.0131 0.0404 -0.0049 0.0112 0.0390 0.0103 -0.0001 0.0434 0.0147 0.0143 0.0432 2007-01-17 2009-09-30 2004-10-15 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20026 column dei_LegalEntityAxis compact cik0001084380_S000005377Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2020 Fund Composite Index consisted of: 47.7% Russell 3000 Index; 31.2% Barclays U.S. Aggregate Bond Index; 15.9% MSCI EAFE + Emerging Markets Index; 2.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 2.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0044 0.0044 0.0044 0.0087 0.0072 0.0057 -0.0018 -0.0013 -0.0013 0.0069 0.0059 0.0044 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20022 column dei_LegalEntityAxis compact cik0001084380_S000005377Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20023 column dei_LegalEntityAxis compact cik0001084380_S000005377Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 70 60 45 260 217 170 465 388 305 1056 882 701 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20024 column dei_LegalEntityAxis compact cik0001084380_S000005377Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 8% of the average value of its portfolio. </p> 0.08 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2020 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2020. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 61.20% of its assets to equity Underlying Funds and 38.80% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2020 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2027 to 2030. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 45.90%; International Equity: 15.30%; Fixed-Income: 32.40%; Short-Term Fixed-Income: 3.20%; and Inflation-Protected Assets: 3.20%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund, and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Inflation-Protected<br /> Assets </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 2.68% </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>Inflation-Linked Bond Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 2.68% </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 15.83%"> &#160; </td> <td style="WIDTH: 18.96%"> &#160; </td> <td style="WIDTH: 11.44%"> &#160; </td> <td style="WIDTH: 43.25%"> &#160; </td> <td style="WIDTH: 10.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: bold"> Total </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: center; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2025 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2025 Fund 0.0507 0.1078 0.0933 -0.3348 0.2496 0.1388 -0.0156 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20032 column dei_LegalEntityAxis compact cik0001084380_S000005378Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014642Member row primary compact * ~ Best Quarter: 0.1533 2009-06-30 Worst Quarter: -0.1697 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0692 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 15.33%, for the quarter ended June 30, 2009. Worst quarter: -16.97%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 6.92%.</font> </p> -0.0156 0.0037 0.0357 -0.0234 -0.0024 0.0278 -0.0055 0.0007 0.0271 -0.0129 0.0062 0.0374 -0.0151 0.0038 0.0357 0.0103 -0.0001 0.0434 0.0060 0.0072 0.0401 2007-01-17 2009-09-30 2004-10-15 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20033 column dei_LegalEntityAxis compact cik0001084380_S000005378Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2025 Fund Composite Index consisted of: 53.7% Russell 3000 Index; 27.2% Barclays U.S. Aggregate Bond Index; 17.9% MSCI EAFE + Emerging Markets Index; 0.6% Barclays U.S. 1-5 Year Government/Credit Bond Index; and 0.6% Barclays U.S. Treasury Inflation Protected Securities Index (Series-L). The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0046 0.0046 0.0046 0.0089 0.0074 0.0059 -0.0018 -0.0013 -0.0013 0.0071 0.0061 0.0046 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20029 column dei_LegalEntityAxis compact cik0001084380_S000005378Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20030 column dei_LegalEntityAxis compact cik0001084380_S000005378Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 73 62 47 266 223 176 475 399 316 1080 906 725 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20031 column dei_LegalEntityAxis compact cik0001084380_S000005378Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 7% of the average value of its portfolio. </p> 0.07 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2025 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2025. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 69.20% of its assets to equity Underlying Funds and 30.80% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2025 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2032 to 2035. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 51.90%; International Equity: 17.30%; Fixed-Income: 28.40%; Short-Term Fixed-Income: 1.20%; and Inflation-Protected Assets: 1.20%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Inflation-Protected<br /> Assets </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 0.76% </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; 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VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: center; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2030 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2030 Fund 0.0490 0.1172 0.0939 -0.3654 0.2670 0.1439 -0.0261 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20039 column dei_LegalEntityAxis compact cik0001084380_S000005379Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014643Member row primary compact * ~ Best Quarter: 0.1662 2009-06-30 Worst Quarter: -0.1905 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0736 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 16.62%, for the quarter ended June 30, 2009. Worst quarter: -19.05%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 7.36%.</font> </p> -0.0261 -0.0040 0.0317 -0.0327 -0.0096 0.0244 -0.0129 -0.0055 0.0241 -0.0232 -0.0014 0.0336 -0.0243 -0.0036 0.0321 0.0103 -0.0001 0.0434 -0.0028 0.0000 0.0370 2007-01-17 2009-09-30 2004-10-15 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20040 column dei_LegalEntityAxis compact cik0001084380_S000005379Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2030 Fund Composite Index consisted of: 59.7% Russell 3000 Index; 19.9% MSCI EAFE + Emerging Markets Index; and 20.4% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0047 0.0047 0.0047 0.0090 0.0075 0.0060 -0.0018 -0.0013 -0.0013 0.0072 0.0062 0.0047 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20036 column dei_LegalEntityAxis compact cik0001084380_S000005379Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20037 column dei_LegalEntityAxis compact cik0001084380_S000005379Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 74 63 48 269 227 179 481 404 322 1091 918 738 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20038 column dei_LegalEntityAxis compact cik0001084380_S000005379Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. </p> 0.05 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2030 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2030. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 77.20% of its assets to equity Underlying Funds and 22.80% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2030 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2037 to 2040. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 57.90%; International Equity: 19.30%; Fixed-Income: 22.80%; Short-Term Fixed-Income: 0.00%; and Inflation-Protected Assets: 0.00%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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</td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>Bond Plus Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 5.85% </p> </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; 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FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: bold"> Total </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2035 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2035 Fund 0.0516 0.1247 0.0971 -0.3818 0.2830 0.1502 -0.0355 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20046 column dei_LegalEntityAxis compact cik0001084380_S000005380Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014644Member row primary compact * ~ Best Quarter: 0.1755 2009-06-30 Worst Quarter: -0.2030 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0757 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 17.55%, for the quarter ended June 30, 2009. Worst quarter: -20.30%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 7.57%.</font> </p> -0.0355 -0.0070 0.0315 -0.0412 -0.0122 0.0243 -0.0189 -0.0077 0.0241 -0.0337 -0.0047 0.0332 -0.0358 -0.0066 0.0318 0.0103 -0.0001 0.0434 -0.0117 -0.0032 0.0367 2004-10-15 2007-01-17 2009-09-30 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20047 column dei_LegalEntityAxis compact cik0001084380_S000005380Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> </table> <br/><table> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2035 Fund Composite Index consisted of: 65.7% Russell 3000 Index; 21.9% MSCI EAFE + Emerging Markets Index; and 12.4% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0048 0.0048 0.0048 0.0091 0.0076 0.0061 -0.0018 -0.0013 -0.0013 0.0073 0.0063 0.0048 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20043 column dei_LegalEntityAxis compact cik0001084380_S000005380Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20044 column dei_LegalEntityAxis compact cik0001084380_S000005380Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 75 64 49 272 230 182 486 410 327 1103 930 750 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20045 column dei_LegalEntityAxis compact cik0001084380_S000005380Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. </p> 0.04 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2035 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2035. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 85.20% of its assets to equity Underlying Funds and 14.80% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually becomes more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2035 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2042 to 2045. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 63.90%; International Equity: 21.30%; Fixed-Income: 14.80%; Short-Term Fixed-Income: 0.00%; and Inflation-Protected Assets: 0.00%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; 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</td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>High-Yield Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 3.91% </p> </td> </tr> <tr> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -5.75pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 5.75pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font><font style="WORD-SPACING: 3.875pt">&#160;</font>Bond Fund </p> </td> <td style="VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 3.12% </p> </td> </tr> </table> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.34%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 17.16%"> &#160; </td> <td style="WIDTH: 10.35%"> &#160; </td> <td style="WIDTH: 39.12%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: bold"> Total </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> &#160; </td> <td style="BORDER-BOTTOM: #000000 0.5pt solid; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 0.5pt solid"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; TEXT-INDENT: -9.35pt; FONT-FAMILY: Sans-Serif; MARGIN-LEFT: 9.35pt; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> 100.00% </p> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart shows how the investment glidepath for the Fund is expected to gradually move the Fund&#8217;s target allocations over time between the different target market sector allocations. The actual market sector allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target market sector allocations approximately seven to ten years following the target&#160;date. </p> <br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="6" style="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; text-align: center"> TIAA-CREF Active Lifecycle Funds </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: windowtext 0.5pt solid"> <div align="center"> Years to<br /> Target Date </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> U.S. Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> International<br /> Equity </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Short-term<br /> Fixed-Income </div> </td> <td style="border-bottom: windowtext 0.5pt solid; text-align: right"> <div align="center"> Inflation-Protected<br /> Assets </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 45 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 40 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 35 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 30 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 25 </div> </td> <td> <div align="center"> 67.50 </div> </td> <td> <div align="center"> 22.50 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 20 </div> </td> <td> <div align="center"> 61.50 </div> </td> <td> <div align="center"> 20.50 </div> </td> <td> <div align="center"> 18.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 15 </div> </td> <td> <div align="center"> 55.50 </div> </td> <td> <div align="center"> 18.50 </div> </td> <td> <div align="center"> 26.00 </div> </td> <td> <div align="center"> - </div> </td> <td> <div align="center"> - </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 10 </div> </td> <td> <div align="center"> 49.50 </div> </td> <td> <div align="center"> 16.50 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> <td> <div align="center"> 2.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 5 </div> </td> <td> <div align="center"> 43.50 </div> </td> <td> <div align="center"> 14.50 </div> </td> <td> <div align="center"> 34.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> <td> <div align="center"> 4.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> 0 </div> </td> <td> <div align="center"> 37.50 </div> </td> <td> <div align="center"> 12.50 </div> </td> <td> <div align="center"> 38.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> <td> <div align="center"> 6.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -5 </div> </td> <td> <div align="center"> 33.75 </div> </td> <td> <div align="center"> 11.25 </div> </td> <td> <div align="center"> 39.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> <td> <div align="center"> 8.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -10 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -15 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -20 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -25 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> <div align="center"> -30 </div> </td> <td> <div align="center"> 30.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 40.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> <td> <div align="center"> 10.00 </div> </td> </tr> </table> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is designed to accommodate investors who invest in a fund up to their target retirement date, and plan to make gradual systematic withdrawals in retirement. In addition, investors should note that the Fund will continue to have a significant level of equity exposure up to, through and after its target retirement date, and this exposure could cause significant fluctuations in the value of the Fund depending on the performance of the equity markets generally. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Approximately seven to ten years after the Fund enters its target retirement year, the Board of Trustees may authorize the merger of the Fund into the Lifecycle Retirement Income Fund or other similar fund. Fund shareholders will receive prior notice of any such merger. The Lifecycle Retirement Income Fund is designed to maintain a relatively stable allocation among the Underlying Funds reflecting the resting point on the glidepath described in the chart above. More detailed information about the Lifecycle Retirement Income Fund is contained in the prospectus for that fund. </p> TIAA-CREF Lifecycle 2040 Fund PRINCIPAL INVESTMENT RISKS <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">You could lose money over short or long periods by investing in this Fund. Accordingly, an investment in the Fund or the Underlying Funds typically is subject to the following principal investment risks:</font> </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Asset Allocation Risk</font>&#8212;The risk that the Fund may not achieve its target allocations. In addition, there is the risk that the asset allocations may not achieve the desired risk-return characteristic or that the selection of Underlying Funds and the allocations among them will result in the Fund underperforming other similar funds or cause an investor to lose money. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Underlying Funds Risk</font>&#8212;The Fund is exposed to the risks of the Underlying Funds in which it invests in direct proportion to the amount of assets the Fund allocates to each Underlying Fund. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Equity Underlying Funds Risks</font>&#8212;The risks of investing in equity Underlying Funds include risks specific to their investment strategies, such as style risk, capitalization risk, and foreign investment risk, among others, as well as risks related to the equity markets in general. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fixed-Income Underlying Funds Risks</font>&#8212;The risks of investing in fixed-income Underlying Funds include credit risk, interest rate risk, and market volatility, liquidity and valuation risk, among others. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Active Management Risk</font>&#8212;The risk that the strategy, investment selection or trading execution of Advisors could cause the Fund or an Underlying Fund to underperform its benchmark index or mutual funds with similar investment objectives. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -6.5pt; FONT-FAMILY: Serif; MARGIN-LEFT: 18.75pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 7pt; FONT-WEIGHT: normal">&#183;</font>&#160;<font style="FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-WEIGHT: bold">Fund of Funds Risk</font>&#8212;The ability of the Fund to achieve its investment objective will depend in part upon the ability of the Underlying Funds to achieve their investment objectives. There can be no guarantee that any Underlying Fund will achieve its investment objective. </p> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> There can be no assurances that the Fund will achieve its investment objective. You should not consider the Fund to be a complete investment program. Please see the non-summary portion of the prospectus for more detailed information about the risks described above, including the risks of the Underlying Funds. </p> You could lose money over short or long periods by investing in this Fund. PAST PERFORMANCE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. The bar chart shows the annual total returns of the Retirement Class of the Fund, before taxes, in each full calendar year since inception of the class. Because the expenses vary across share classes, the performance of the Retirement Class will vary from the other share classes. Below the bar chart are the best and worst returns for a calendar quarter since inception of the Retirement Class. The performance table following the bar chart shows the Fund&#8217;s average annual total returns for the Retirement, Institutional and Premier Classes over the one-year, five-year, ten-year and since-inception periods (where applicable) ended December 31, 2011, and how those returns compare to those of a broad-based securities market index and a composite index based on the Fund&#8217;s target allocations. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The returns shown below reflect previous agreements by Advisors to waive or reimburse the Fund and certain Underlying Funds for certain fees and expenses. Without these waivers and reimbursements, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The indices listed below are unmanaged, and you cannot invest directly in an index. The returns for the indices reflect no deduction for fees, expenses or taxes. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> For current performance information of each share class, including performance to the most recent month-end, please visit www.tiaa-cref.org. </p> ANNUAL TOTAL RETURNS FOR THE RETIREMENT CLASS SHARES (%)&dagger; Lifecycle 2040 Fund 0.0530 0.1312 0.1028 -0.3814 0.2839 0.1521 -0.0387 ~ http://tiaa-cref.org/20120928/role/ScheduleAnnualTotalReturnsBarChart20053 column dei_LegalEntityAxis compact cik0001084380_S000005382Member column rr_ProspectusShareClassAxis compact cik0001084380_C000014647Member row primary compact * ~ Best Quarter: 0.1754 2009-06-30 Worst Quarter: -0.2027 2008-12-31 The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 0.0775 2012-06-30 <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Serif; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal">Best quarter: 17.54%, for the quarter ended June 30, 2009. Worst quarter: -20.27%, for the quarter ended December 31, 2008.</font> </p> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: -9pt; FONT-FAMILY: Serif; MARGIN-LEFT: 9pt; FONT-SIZE: 1pt; FONT-WEIGHT: normal"> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><sup>&amp;dagger;</sup></font><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"><font style="WORD-SPACING: 5.5pt">&#160;</font>The year-to-date return as of the most recent calendar quarter, which ended on June 30, 2012, was 7.75%.</font> </p> -0.0387 -0.0061 0.0341 -0.0444 -0.0111 0.0269 -0.0207 -0.0069 0.0264 -0.0358 -0.0035 0.0360 -0.0368 -0.0055 0.0345 0.0103 -0.0001 0.0434 -0.0139 -0.0030 0.0388 2009-09-30 2004-10-15 2007-01-17 ~ http://tiaa-cref.org/20120928/role/ScheduleAverageAnnualReturnsTransposed20054 column dei_LegalEntityAxis compact cik0001084380_S000005382Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ <table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 46.98%"> &#160; </td> <td style="WIDTH: 13.06%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 7.2%"> &#160; </td> <td style="WIDTH: 2.39%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.04%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> <td style="WIDTH: 1.61%"> &#160; </td> <td style="WIDTH: 8.67%"> &#160; </td> <td style="WIDTH: 3.23%"> &#160; </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> <tr> <td style="VERTICAL-ALIGN: middle" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> Current performance of the Fund&#8217;s shares may be higher or lower than that shown above. </p> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top" colspan="12"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 8.5pt; FONT-WEIGHT: normal"> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary. </p> </td> </tr> <tr style="FONT-SIZE: 1px"> <td style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top" colspan="12"> &#160; </td> </tr> </table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax performance is shown only for the Retirement Class shares, and after-tax returns for the other Classes of shares will vary from the after-tax returns presented for Retirement Class shares. As of the close of business on December 31, 2011, the Lifecycle 2040 Fund Composite Index consisted of: 67.5% Russell 3000 Index; 22.5% MSCI EAFE + Emerging Markets Index; and 10.0% Barclays U.S. Aggregate Bond Index. The Fund's composite benchmark, the components that make up a composite benchmark and the method of calculating a composite benchmark's performance may vary over time. (reflects no deductions for fees, expenses or taxes) www.tiaa-cref.org AVERAGE ANNUAL TOTAL RETURNS For the Periods Ended December 31, 2011 The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). FEES AND EXPENSES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010 0.0010 0.0010 0.0005 0.0015 0.0028 0.0003 0.0003 0.0049 0.0049 0.0049 0.0092 0.0077 0.0062 -0.0018 -0.0013 -0.0013 0.0074 0.0064 0.0049 ~ http://tiaa-cref.org/20120928/role/ScheduleShareholderFees20050 column dei_LegalEntityAxis compact cik0001084380_S000005382Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://tiaa-cref.org/20120928/role/ScheduleOperatingExpenses20051 column dei_LegalEntityAxis compact cik0001084380_S000005382Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-09-30 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) "Acquired Fund Fees and Expenses" are the Fund's proportionate amount of the expenses of any investment companies or pools in which it invests. These expenses are not paid directly by Fund shareholders. Instead, Fund shareholders bear these expenses indirectly because they reduce Fund performance. Because "Acquired Fund Fees and Expenses" are included in the chart above, the Fund's operating expenses here will not correlate with the expenses included in the Financial Highlights in this Prospectus and the Fund's annual report. SHAREHOLDER FEES (deducted directly from gross amount of transaction) Example <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12.25pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> This example is intended to help you compare the cost of investing in shares of the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses, before expense reimbursements, remain the same. The example assumes that the Fund&#8217;s fee waiver and/or expense reimbursement agreement will remain in place through September 30, 2013 but that there will be no waiver or expense reimbursement agreement in effect thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </p> 76 65 50 275 233 185 492 415 333 1115 942 762 ~ http://tiaa-cref.org/20120928/role/ScheduleExpenseExample20052 column dei_LegalEntityAxis compact cik0001084380_S000005382Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ PORTFOLIO TURNOVER <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the fiscal year ended May 31, 2012 the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. </p> 0.05 INVESTMENT OBJECTIVE <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Lifecycle 2040 Fund seeks high total return over time through a combination of capital appreciation and income. </p> PRINCIPAL INVESTMENT STRATEGIES <p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund is a &#8220;fund of funds&#8221; that invests in Institutional Class shares of other funds of the Trust and potentially in other investment pools or investment products (collectively, the &#8220;Underlying Funds&#8221;). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund&#8217;s investments are adjusted from more aggressive to more conservative over time as the target retirement year approaches and for approximately seven to ten years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring or planning to retire within a few years of 2040. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund expects to allocate approximately 90.00% of its assets to equity Underlying Funds and 10.00% of its assets to fixed-income Underlying Funds. These allocations represent targets for equity and fixed-income asset classes. Target allocations will change over time and actual allocations may vary up to 10% from the targets. The target allocations along the investment glidepath, illustrated in the chart below, gradually become more conservative, moving to target allocations of approximately 50% equity/50% fixed-income in the Fund&#8217;s target retirement year of 2040 and reaching the Fund&#8217;s final target allocation of approximately 40% equity/60% fixed-income at some point from 2047 to 2050. Within the equity and fixed-income asset classes, the Fund allocates its investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income and inflation-protected assets) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund&#8217;s target market sector allocations. The Fund&#8217;s current target market sector allocations for June 30, 2013, which will change over time, are approximately as follows: U.S. Equity: 67.50%; International Equity: 22.50%; Fixed-Income: 10.00%; Short-Term Fixed-Income: 0.00%; and Inflation-Protected Assets: 0.00%. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth &amp; Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (U.S. Equity); International Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund and Emerging Markets Equity Fund (International Equity); Bond Fund, Bond Plus Fund and High-Yield Fund (Fixed-Income); Short-Term Bond Fund and Money Market Fund (Short-Term Fixed-Income); and Inflation-Linked Bond Fund (Inflation-Protected Assets). </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund&#8217;s desired levels of risk and potential return at the particular time. The Fund&#8217;s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund&#8217;s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of a Fund&#8217;s assets are expected to be invested in any Underlying Fund or market sectors not listed above, shareholders will receive prior notice of such change. </p> <br/><p style="TEXT-ALIGN: left; FONT-STYLE: normal; TEXT-INDENT: 12pt; FONT-FAMILY: Serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> The Fund&#8217;s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2012, are listed in the chart below. These allocations will change over&#160;time. </p> <br/><table style="CLEAR: both" cellspacing="0" cellpadding="0" width="100%"> <tr style="FONT-SIZE: 1pt"> <td style="WIDTH: 14.37%"> &#160; </td> <td style="WIDTH: 9.52%"> &#160; </td> <td style="WIDTH: 18.16%"> &#160; </td> <td style="WIDTH: 9.31%"> &#160; </td> <td style="WIDTH: 40.12%"> &#160; </td> <td style="WIDTH: 8.52%"> &#160; </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Asset Class </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Market Sector </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold"> Allocation </p> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Sans-Serif; FONT-SIZE: 7.5pt; FONT-WEIGHT: bold&qu