SUPPLEMENT NO. 4
dated October 13, 1999
to the Prospectus dated April 1, 1999
for the TIAA-CREF Mutual Funds
The example table on page 12 of the prospectus, as amended by the initial
Supplement to the prospectus, dated May 21, 1999, has changed to reflect the
extension of the period during which Teachers Advisors has agreed to waive a
portion of its fees for managing the funds. The extension of the fee waiver is
described in Supplement No. 3 to the prospectus, dated September 30, 1999.
The revised table below assumes you invested on January 1, 2000, and that
the expense waiver expires on July 1, 2003. Based on those assumptions, the cost
for investing $10,000 in any one of the TIAA-CREF Mutual Funds for the time
periods indicated, and then redeeming all of your shares in that fund at the end
of those periods will be as follows:
1 3 5 10
Year Years Years Years
International Equity Fund $50 $157 $364 $1,041
Growth Equity Fund $46 $144 $342 $ 993
Growth & Income Fund $44 $138 $331 $ 970
Managed Allocation Fund(1) $40 $125 $309 $ 922
Bond PLUS Fund $31 $ 97 $259 $ 814
Money Market Fund $30 $ 93 $253 $ 802
(1)The Managed Allocation Fund itself has no expense charges. However,
shareholders in the Managed Allocation Fund will indirectly bear their pro rata
share of the fees and expenses incurred by the funds in which the Managed
Allocation Fund invests. The Expenses in the table are based on a typical asset
mix for the Managed Allocation Fund: 24% Growth Equity Fund, 24% Growth & Income
Fund, 12% International Equity Fund and 40% Bond PLUS Fund.
