"TIAA-CREF is the nationwide retirement and financial services system for people who work at colleges, universities, independent schools, and other nonprofit education and research institutions throughout the United States. A nonprofit organization, TIAA-CREF is really two companies working together as one. TIAA is the Teachers Insurance and Annuity Association, an insurance company founded in 1918 by the Carnegie Foundation for the Advancement of Teaching. CREF is the College Retirement Equities Fund, first set up in 1952 and now registered with the SEC as an open-end, diversified management company under the federal Investment Company Act of 1940."

"The CREF Social Choice Account is a balanced fund, holding stocks, bonds, and money-market investments that meet certain social criteria or "screens." The screens are developed and monitored by the CREF trustees and are based on concerns expressed by our participants.

Invested Assets as of 09/30/97: $2.1 billion

Total Returns for Standard Reporting Periods*

Periods Ending 09/30/97




1 year
5 year
Since inception

(March 1, 1990)

Returns: The Social Choice Account seeks to reflect the overall performance of the financial markets. The stock portion of the account attempts to track the performance of the U.S. stock market, while returns on bond investments are similar to those of the CREF Bond Market Account. Money market investments take advantage of attractive opportunities and preserve the account's liquidity. However, since investments are based in part on social criteria, returns may be lower or higher than those of funds that select investments for purely financial reasons."

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Last update of this page May 8, 1998