Fund Performance for the
Period Ending May 31, 2023
The following tables show the returns of each Investment Option over the time period(s) indicated. For purposes of this discussion, each Enrollment Year Investment Option is considered a separate Investment Option. The tables below compare the average annual total return of an Investment Option (after deducting fees and expenses) to the returns of a benchmark. The benchmark included in the tables combines the benchmark(s) for the underlying investment(s) in which an Investment Option invests weighted according to the allocations to those underlying investment(s) and adjusted to reflect any changes in the allocations, benchmark(s) or both during the relevant time period. Benchmarks are not available for investment, are not managed and do not reflect the fees or expenses of investing. Past performance is not a guarantee of future results. Performance may be substantially affected over time by changes in the allocations and changes in the investments in which an Investment Option invests. Investment returns and the value of your Account will fluctuate, so that your Account, when redeemed, may be worth more or less than the amounts contributed to your Account.
| Investment Portfolio1 | Inception Date | Year to Date | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| 2040/2041 Enrollment Option | 05/12/23 | -0.40% | |||||
| Benchmark | 05/12/23 | -0.02% | |||||
| 2038/2039 Enrollment Option | 06/11/21 | 5.90% | -0.11% | -3.46% | |||
| Benchmark | 06/11/21 | 6.00% | 0.00% | -3.44% | |||
| 2036/2037 Enrollment Option | 10/25/19 | 5.75% | -0.24% | 7.66% | 5.99% | ||
| Benchmark | 10/25/19 | 5.84% | -0.10% | 8.02% | 5.86% | ||
| 2034/2035 Enrollment Option | 10/25/19 | 5.54% | -0.33% | 7.25% | 5.66% | ||
| Benchmark | 10/25/19 | 5.66% | -0.16% | 7.61% | 5.55% | ||
| 2032/2033 Enrollment Option | 10/25/19 | 5.23% | -0.49% | 6.72% | 5.37% | ||
| Benchmark | 10/25/19 | 5.36% | -0.34% | 7.09% | 5.26% | ||
| 2030/2031 Enrollment Option | 10/25/19 | 4.77% | -0.67% | 6.06% | 4.85% | ||
| Benchmark | 10/25/19 | 4.88% | -0.47% | 6.40% | 4.76% | ||
| 2028/2029 Enrollment Option | 10/25/19 | 4.14% | -0.69% | 5.05% | 4.13% | ||
| Benchmark | 10/25/19 | 4.40% | -0.38% | 5.39% | 4.02% | ||
| 2026/2027 Enrollment Option | 10/25/19 | 3.66% | -0.61% | 4.00% | 3.56% | ||
| Benchmark | 10/25/19 | 3.91% | -0.20% | 4.35% | 3.46% | ||
| 2024/2025 Enrollment Option | 10/25/19 | 2.66% | -0.45% | 3.34% | 3.15% | ||
| Benchmark | 10/25/19 | 3.31% | 0.39% | 3.65% | 3.08% | ||
| In School Enrollment Option | 10/25/19 | 2.17% | 0.65% | 1.82% | 2.24% | ||
| Benchmark | 10/25/19 | 2.74% | 1.23% | 1.68% | 1.78% |
| Investment Portfolio1 | Inception Date | Year to Date | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| Aggressive Allocation Option | 08/12/14 | 5.95% | -0.17% | 7.82% | 6.31% | 6.77% | |
| Benchmark | 08/12/14 | 6.06% | 0.08% | 8.21% | 6.34% | 6.74% | |
| Moderate Allocation Option | 08/02/07 | 5.06% | -0.53% | 5.45% | 5.27% | 6.02% | 5.24% |
| Benchmark | 08/02/07 | 5.16% | -0.23% | 5.76% | 5.29% | 6.11% | 5.72% |
| Conservative Allocation Option | 08/18/14 | 3.29% | -0.15% | 2.65% | 3.44% | 3.48% | |
| Benchmark | 08/18/14 | 3.70% | 0.51% | 2.84% | 3.56% | 3.55% | |
| International Equity Index Option | 06/18/13 | 5.79% | 1.28% | 7.76% | 2.69% | 4.15% | |
| Benchmark | 06/18/13 | 5.67% | 0.80% | 7.63% | 2.52% | 4.18% | |
| U.S. and International Equity Option | 10/01/01 | 6.80% | 0.02% | 10.21% | 7.37% | 8.75% | 7.13% |
| Benchmark | 10/01/01 | 6.96% | 0.30% | 10.64% | 7.29% | 8.75% | 7.80% |
| Equity and Interest Accumulation Option | 08/18/14 | 4.71% | 2.08% | 6.96% | 6.01% | 6.00% | |
| Benchmark | 08/18/14 | 5.36% | 3.28% | 7.01% | 6.20% | 6.04% | |
| 100% Fixed Income Option | 08/16/07 | 2.47% | -1.67% | -1.94% | 1.40% | 1.44% | 2.74% |
| Benchmark | 08/16/07 | 2.44% | -1.63% | -1.73% | 1.59% | 1.73% | 3.27% |
| Investment Portfolio1 | Inception Date | Year to Date | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| U.S. Large Cap Equity Option | 08/12/14 | 9.59% | 2.78% | 12.76% | 10.84% | 11.04% | |
| Benchmark | 08/12/14 | 9.65% | 2.92% | 12.92% | 11.01% | 11.16% | |
| Social Choice Equity Option | 06/11/21 | 5.08% | 0.63% | -2.47% | |||
| Benchmark | 06/11/21 | 8.74% | 2.03% | -1.54% | |||
| Money Market Option3 | 11/01/07 | 1.83% | 3.26% | 1.11% | 1.33% | 0.79% | 0.67% |
| Benchmark | 11/01/07 | 1.78% | 3.09% | 1.04% | 1.23% | 0.72% | 0.61% |
| Investment Portfolio1 | Inception Date | Year to Date | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| Principal Plus Interest Option2 | 10/01/01 | 0.67% | 1.54% | 1.46% | 1.66% | 1.51% | 2.33% |
| Benchmark | 10/01/01 | 1.95% | 3.38% | 1.19% | 1.51% | 0.94% | 1.32% |
The performance data quoted represent past performance and are net of all fees and expenses. Past performance is not a guarantee of future results. Your returns and the principal value of your Account will fluctuate so your investment may be worth more or less than the original value when you withdraw your money. Current performance may be lower or higher than the performance quoted above. Investors cannot invest directly in a benchmark.
1 All performance figures in the table, with the exception of the performance figures in the Year-to-Date column, represent the average annual compound rate of total return. All figures in the Year-to-Date column represent cumulative, non-annualized returns.
2 Due to rounding, the illustrated returns for the Principal Plus Interest Option may be slightly higher or lower than the figures derived from the effective annual interest rates credited for the same period.
Effective September 1, 2022, accumulations under the Funding Agreement for the Principal Plus Interest Option as of August 31, 2022 will be credited to the Minnesota College Savings Plan with an effective annual interest rate of 1.70%, and are guaranteed to earn this rate through August 31, 2023, subject to the claims-paying ability of TIAA-CREF Life.
The Principal Plus Interest Option does not pay the Program Manager Fee and it is not invested in mutual funds so there is no estimated annual expense ratio for this option.
3The Money Market Option is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the portfolio seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the portfolio.
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