TIAA-CREF Lifecycle Retire Inc Retire

TLIRX

Benchmark	Morningstar Category
Morningstar Lifetime Moderate Income Morningstar Lifetime Moderate Income MPT Benchmark Morningstar Moderate Target Risk Primary Prospectus Benchmark N/A Secondary Prospectus Benchmark Barclays US Agg Bond TR USD Analyst Assigned Benchmark Morningstar Lifetime Moderate Income Create Custom Benchmark Apply	Retirement Income Retirement Income Age 0-6 High Equity Age 0-6 Low Equity Age 0-6 Medium Equity Age 13-18 High Equity Age 13-18 Low Equity Age 13-18 Medium Equity Age 19+ High Equity Age 19+ Low Equity Age 19+ Medium Equity Age 7-12 High Equity Age 7-12 Low Equity Age 7-12 Medium Equity Aggressive Allocation Bank Loan Bear Market China Region Commodities Agriculture Commodities Broad Basket Commodities Energy Commodities Industrial Metals Commodities Miscellaneous Commodities Precious Metals Communications Conservative Allocation Consumer Cyclical Consumer Defensive Convertibles Diversified Emerging Mkts Diversified Pacific/Asia Emerging Markets Bond Equity Energy Equity Precious Metals Europe Stock Financial Foreign Large Blend Foreign Large Growth Foreign Large Value Foreign Small/Mid Blend Foreign Small/Mid Growth Foreign Small/Mid Value Global Real Estate Health High Yield Bond High Yield Muni India Equity Industrials Inflation-Protected Bond Intermediate Government Intermediate-Term Bond Japan Stock Large Blend Large Growth Large Value Latin America Stock Leveraged Net Long Long Government Long-Term Bond Long/Short Equity Managed Futures Market Neutral Mid-Cap Blend Mid-Cap Growth Mid-Cap Value Miscellaneous Region Miscellaneous Sector Moderate Allocation Multialternative Multicurrency Multisector Bond Muni California Intermediate Muni California Long Muni Florida Muni Massachusetts Muni Minnesota Muni National Interm Muni National Long Muni National Short Muni New Jersey Muni New York Intermediate Muni New York Long Muni Ohio Muni Pennsylvania Muni Single State Interm Muni Single State Long Muni Single State Short Natural Res Nontraditional Bond Pacific/Asia ex-Japan Stk Real Estate Retirement Income Short Government Short-Term Bond Single Currency Small Blend Small Growth Small Value Stable Value Static Aggressive Allocation Static Conservative Allocation Static Intermediate Bond Static Large Blend Static Large Growth Static Large Value Static Mid-Cap Equity Static Moderate Allocation Static Money Market Static Non US Equity Static Short-Term Bond Static Small-Cap Equity Static US Government Target Date 2000-2010 Target Date 2011-2015 Target Date 2016-2020 Target Date 2021-2025 Target Date 2026-2030 Target Date 2031-2035 Target Date 2036-2040 Target Date 2041-2045 Target Date 2046-2050 Target Date 2051+ Technology Trading-Inverse Commodities Trading-Inverse Debt Trading-Inverse Equity Trading-Leveraged Commodities Trading-Leveraged Debt Trading-Leveraged Equity Trading-Miscellaneous Ultrashort Bond Utilities Volatility World Allocation World Bond World Stock

Benchmark

Morningstar Category

Morningstar Lifetime Moderate Income

Retirement Income

Asset Allocation

TLIRX

Asset Distribution

	Type	% Net	% Short	% Long	Bench- mark	Cat Avg
As of 04/30/2013

	Cash	9.06	0.00	9.06	6.20	9.89

	US Stock	26.03	0.00	26.03	24.75	21.24

	Non US Stock	12.02	0.00	12.02	6.67	8.94

	Bond	55.10	0.00	55.10	56.66	57.43

	Other	-2.21	3.50	1.29	5.72	2.50

Style Details

Avg Market Cap USD
24,975 mil

Benchmark Market Cap USD
26,889 mil

Category Avg Market Cap USD
26,977 mil

Market Capitalization
Size	% of Portfolio	Benchmark	Category Avg

Giant	37.72	39.77	42.14

Large	32.20	28.54	30.79

Medium	22.93	24.13	18.76

Small	6.12	7.39	6.38

Micro	1.03	0.17	1.94

Value & Growth Measures
	Stock Portfolio	Benchmark	Category Avg
As of 04/30/2013 *Forward-looking based on historical data Style and Market Cap Breakdown and Value and Growth Measures are calculated only using the long position holdings of the portfolio.

Price/Prospective Earnings*	14.93	14.08	14.34

Price/Book*	1.95	1.82	1.83

Price/Sales*	1.21	1.13	1.16

Price/Cash Flow*	6.20	6.47	6.39

Dividend Yield %*	2.02	2.34	2.34

Long-Term Earnings %	10.00	9.08	9.42

Historical Earnings %	2.14	-1.37	-1.27

Sales Growth %	-0.06	-11.87	-14.12

Cash-Flow Growth %	-2.41	-4.90	-24.67

Book-Value Growth %	5.77	-8.58	-47.76

Ownership Zone

Weighted Average of holdings

75% of fund's stock holdings

Holdings Style

Portfolio Weight%

> 50% 25–50% 10–25% 0–10%

Investment Style History
Year	Style	% Equity
*As of 04/30/2013 Style Box Detail calculations do not include the fund's short positions (if any).

2013*		38.05

2012		38.60

2011		38.68

2010		39.24

2009		39.71

Fixed-Income Style

Fixed-Income Style History
Year	Style	% Bonds
As of 03/31/2013

2013		55.10

2012		52.80

2011		50.24

2010		49.75

2009		52.53

Bond Statistics
Detail	Value
As of 03/31/2013, *As of 04/30/2013

Average Effective Duration (Years)*	4.73

Average Effective Maturity (Years)*	5.94

Average Credit Quality	BBB

Average Weighted Coupon*	3.47

Average Weighted Price*	106.39

Credit Quality
Type	% Bonds	Benchmark	Category Avg

AAA	50.93	56.97	63.78

AA	6.21	25.09	4.33

A	14.10	10.75	9.07

BBB	18.55	7.13	10.16

BB	6.25	0.04	1.29

B	3.29	0.00	1.18

Below B	0.60	0.01	0.37

Not Rated	0.06	0.00	9.82

As of 03/31/2013 Credit Quality is calculated only using the long position holdings of the portfolio.

Sector Weightings

TLIRX

Equity Sector
Bond Sector

		% Stocks	Benchmark	Category Avg

	Cyclical

	Basic Materials	7.83	4.90	5.55

	Consumer Cyclical	14.13	11.74	11.49

	Financial Services	14.62	15.90	15.84

	Real Estate	2.69	3.95	5.26


	Sensitive

	Communication Services	3.20	3.95	3.99

	Energy	8.55	9.48	9.72

	Industrials	12.03	12.74	11.72

	Technology	14.11	13.12	13.50


	Defensive

	Consumer Defensive	8.22	9.33	9.25

	Healthcare	11.93	10.91	10.59

	Utilities	2.71	3.97	3.10

As of 04/30/2013 Sector data is calculated only using the long position holdings of the portfolio.

Fixed-Income Sectors
Type		% Bonds	Benchmark	Category Avg

	Government	19.54	73.42	39.40

Government		16.54	70.87	34.99

Government-Related		3.00	2.55	4.40


	Corporate	35.11	16.52	21.14


	Securitized	29.75	0.19	21.49

Agency Mortgage-Backed		13.23	0.14	16.47

Non-Agency Residential MBS		3.01	0.01	1.24

Commercial MBS		2.93	0.00	1.24

Asset-Backed		10.57	0.00	2.53

Covered Bond		0.00	0.03	0.00


	Municipal	1.43	0.00	0.67


	Cash & Equivalents	14.17	9.87	16.63


	Other	0.00	0.00	0.67

As of 04/30/2013 Sector data is calculated only using the long position holdings of the portfolio.

Coupon Range
Type	% Bonds	Benchmark	Category Avg

0% PIK	0.77	0.05	1.01

0% to 4%	59.93	80.07	61.56

4% to 6%	29.57	13.15	25.03

6% to 8%	7.69	4.76	8.87

8% to 10%	1.84	1.87	2.78

10% to 12%	0.17	0.11	0.65

More than 12%	0.03	0.00	0.10

As of 04/30/2013 Sector data is calculated only using the long position holdings of the portfolio.

Top 10 Country Breakdown

TLIRX

	% Bonds	Benchmark	Category Avg

United States	81.53	88.29	91.12

Canada	1.73	0.93	1.20

Cayman Islands	1.42	0.40	0.41

South Korea	1.38	0.30	0.10

Netherlands	1.29	0.93	0.44

Mexico	0.99	0.12	0.54

United Kingdom	0.99	2.10	1.12

Luxembourg	0.87	0.29	0.52

Australia	0.87	0.75	0.44

Norway	0.84	0.08	0.08


As of 04/30/2013 Country breakdown data is calculated only using the long position holdings of the portfolio.

Bond Maturity Breakdown

TLIRX

	% Bonds	Benchmark	Category Avg

1 to 3 Years	17.99	20.62	22.63

3 to 5 Years	20.97	30.11	17.67

5 to 7 Years	11.02	23.71	9.83

7 to 10 Years	17.36	12.08	13.70

10 to 15 Years	2.64	6.11	4.25

15 to 20 Years	4.01	3.28	4.29

20 to 30 Years	14.68	3.89	21.38

Over 30 Years	11.32	0.21	5.97


As of 04/30/2013

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	% Stocks	Benchmark	Category Avg
As of 04/30/2013 Region breakdown data is calculated by using the long position holdings of the portfolio equity part only.

Americas	70.84	81.17	73.83

North America	68.91	80.55	72.43

Latin America	1.92	0.62	1.40

Greater Europe	19.30	11.18	15.39

United Kingdom	5.74	3.50	4.89

Europe Developed	12.02	7.02	9.24

Europe Emerging	1.04	0.28	0.64

Africa/Middle East	0.50	0.37	0.62

Greater Asia	9.86	7.65	10.79

Japan	2.88	3.40	4.11

Australasia	1.02	1.46	1.75

Asia Developed	2.53	1.63	2.64

Asia Emerging	3.44	1.15	2.28


Market Classification

% Developed Markets	93.34	97.71	95.24

% Emerging Markets	6.66	2.29	4.76

TLIRX

US Stocks

Non-US Stocks

Cash

Bond

Other

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*Grey bar reflects the selected investment's target asset allocation.

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TIAA-CREF Lifecycle Retire Inc Retire

Summary

Holdings

Premium Details

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Asset Allocation

TLIRX

Style Details

TLIRX

Sector Weightings

TLIRX

Top 10 Country Breakdown

TLIRX

Bond Maturity Breakdown

TLIRX

World Regions

TLIRX

Glide Path

TLIRX