Strategy And Objective

The Lifecycle Index 2030 Fund seeks high total return over time through a combination of capital appreciation and income. The Fund is a fund of funds that invests in Class W shares of other funds of the Trust and potentially in other investment pools or investment products, including other funds advised by the Fund s investment adviser, Teachers Advisors, LLC ( Advisors ), or its affiliates (collectively, the Underlying Funds ). In general, the Fund is designed for investors who have an approximate target retirement year in mind, and the Fund s investments are adjusted from more aggressive to more conservative over time as the Fund s target retirement year approaches and for approximately 30 years afterwards. The Fund invests in Underlying Funds according to an asset allocation strategy designed for investors retiring in, or planning to retire within a few years of, 2030 and who may begin taking systematic withdrawals upon retirement. The Fund has a policy of investing at least 80% of its assets (net assets, plus the amount of any borrowings for investment purposes) in Underlying Funds that are managed to seek investment returns that track particular market indices.