Investment choices

Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

Average annual total returns shown "with sales charges" are net of the following: (1) the current annual plan management fee of 0.15% of plan portfolio assets; (2) the current annual distribution and service fees¹ of 0.25% for Class A units or the current annual distribution and service fees of 0.75% for Class C units; (3) initial sales charges up to 3.50% (Class A) or 0.75% CDSC for periods one year or less (Class C); (4) the current CollegeInvest Administration fee of 0.06%² and (5) annual expenses of the share classes of the underlying mutual funds in which Plan portfolios invest, currently up to 0.75% of assets, which may vary. The TIAA Money Market Portfolio does not charge an initial sales charge nor does it assess an annual distribution and service fee. Plan fees, expenses and sales charges are subject to change. Underlying fund expenses will vary and in some cases have been reduced by fee and expense waivers or reimbursements, which may be ended at any time reducing future performance.

Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

Average annual total returns shown "with sales charges" are net of the following: (1) the current annual plan management fee of 0.15% of plan portfolio assets; (2) the current annual distribution and service fees¹ of 0.25% for Class A units or the current annual distribution and service fees of 0.75% for Class C units; (3) initial sales charges up to 3.50% (Class A) or 0.75% CDSC for periods one year or less (Class C); (4) the current CollegeInvest Administration fee of 0.06%² and (5) annual expenses of the share classes of the underlying mutual funds in which Plan portfolios invest, currently up to 0.75% of assets, which may vary. The TIAA Money Market Portfolio does not charge an initial sales charge nor does it assess an annual distribution and service fee. Plan fees, expenses and sales charges are subject to change. Underlying fund expenses will vary and in some cases have been reduced by fee and expense waivers or reimbursements, which may be ended at any time reducing future performance.