Daily price and performance

The following tables show the returns of each Investment Option over the time period(s) indicated. For purposes of this discussion, each Enrollment Option in the Enrollment Year Investment Options table 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.

For more detailed information, including standardized returns as of the most recent calendar quarter end, click on the name of an Investment Option.

For more information on Investment Options, fees and expenses, including cost examples, please read the Program Description.

Effective June 9, 2023, the 2022/2023 Enrollment Option was merged into the In School Option and the 2040/2041 Enrollment Option was launched.

Daily as of November 19, 2024 Performance as of October 31, 2024
Investment Option1 Unit Value Change $ Change % Year to Date 1 year 3 year 5 year 10 year Since Inception Inception Date
2040/2041 Enrollment Option $12.33 +0.03 0.24% 12.52% 28.09% N/A N/A N/A 14.88% 6/9/2023
Benchmark 12.61% 28.49% N/A N/A N/A 15.04%  
2038/2039 Enrollment Option $11.83 +0.03 0.25% 12.34% 27.88% 3.92% N/A N/A 4.67% 6/25/2021
Benchmark 12.42% 28.22% 3.89% N/A N/A 4.64%  
2036/2037 Enrollment Option $15.60 +0.04 0.26% 11.85% 26.90% 3.53% N/A N/A 10.32% 6/12/2020
Benchmark 11.92% 27.29% 3.58% N/A N/A 10.41%  
2034/2035 Enrollment Option $15.32 +0.04 0.26% 11.35% 26.02% 3.27% N/A N/A 9.87% 6/12/2020
Benchmark 11.43% 26.37% 3.32% N/A N/A 9.99%  
2032/2033 Enrollment Option $14.93 +0.03 0.20% 10.65% 24.89% 2.94% N/A N/A 9.27% 6/12/2020
Benchmark 10.74% 25.19% 3.00% N/A N/A 9.40%  
2030/2031 Enrollment Option $14.41 +0.03 0.21% 9.44% 22.72% 2.27% N/A N/A 8.43% 6/12/2020
Benchmark 9.57% 23.12% 2.37% N/A N/A 8.58%  
2028/2029 Enrollment Option $13.65 +0.03 0.22% 7.72% 19.61% 1.34% N/A N/A 7.16% 6/12/2020
Benchmark 7.84% 20.04% 1.44% N/A N/A 7.32%  
2026/2027 Enrollment Option $12.83 +0.02 0.16% 5.99% 15.70% 0.58% N/A N/A 5.70% 6/12/2020
Benchmark 6.52% 16.50% 0.92% N/A N/A 6.02%  
2024/2025 Enrollment Option $12.27 +0.01 0.08% 4.89% 11.70% 0.64% N/A N/A 4.68% 6/12/2020
Benchmark 5.91% 13.09% 1.32% N/A N/A 5.21%  
In School Option $11.43 +0.01 0.09% 4.30% 9.41% 1.63% N/A N/A 3.01% 6/12/2020
Benchmark 5.50% 11.00% 2.52% N/A N/A 3.45%  
  1. 1All performance figures in the table represent the average annual compound rate of total return.↩

Daily as of November 19, 2024 Performance as of October 31, 2024
Investment Option1 Unit Value Change $ Change % Year to Date 1 year 3 year 5 year 10 year Since Inception Inception Date
Aggressive Allocation Option $15.79 +0.04 0.25% 12.44% 28.09% 3.91% N/A N/A 10.60% 6/12/2020
Benchmark 12.56% 28.43% 3.94% N/A N/A 10.68%  
Moderate Allocation Option $32.82 +0.08 0.24% 9.93% 23.45% 2.49% 6.95% 6.56% 6.61% 6/13/2006
Benchmark 10.03% 23.80% 2.64% 6.94% 6.65% 6.69%  
Conservative Allocation Option $12.14 +0.02 0.17% 6.26% 15.08% 1.57% N/A N/A 4.37% 6/12/2020
Benchmark 6.84% 15.95% 1.95% N/A N/A 4.61%  
International Equity Index Option $20.01 -0.01 -0.05% 7.77% 22.60% 1.85% 5.78% 4.88% 6.14% 11/15/2012
Benchmark 7.90% 23.56% 1.96% 5.89% 4.99% 6.15%  
Global Equity Index Option $52.17 +0.16 0.31% 15.96% 33.07% 5.96% 12.00% 10.23% 7.04% 11/28/2000
Benchmark 16.07% 33.45% 6.03% 12.02% 10.24% 7.10%  
100% Fixed-Income Option $17.68 +0.02 0.11% 2.61% 10.21% -1.23% 0.76% 1.81% 3.16% 6/14/2006
Benchmark 2.63% 10.42% -1.21% 0.84% 1.98% 3.50%  
  1. 1All performance figures in the table represent the average annual compound rate of total return.↩

Daily as of November 19, 2024 Performance as of October 31, 2024
Investment Option1 Unit Value Change $ Change % Year to Date 1 year 3 year 5 year 10 year Since Inception Inception Date
U.S. Equity Index Option $51.77 +0.24 0.47% 19.62% 37.72% 7.56% 14.51% 12.34% 14.34% 11/14/2012
Benchmark 19.75% 37.86% 7.64% 14.60% 12.44% 14.48%  
Large Cap Growth Equity Index Option $15.08 +0.16 1.07% 23.68% 43.96% N/A N/A N/A 13.86% 1/27/2022
Benchmark 23.74% 44.09% N/A N/A N/A 13.94%  
Large Cap Value Equity Index Option $13.23 -0.05 -0.38% 17.23% 31.40% N/A N/A N/A 9.75% 1/27/2022
Benchmark 17.34% 31.40% N/A N/A N/A 9.82%  
Small/Mid Cap Equity Index Option $13.08 +0.12 0.93% 12.30% 37.88% N/A N/A N/A 7.56% 1/27/2022
Benchmark 12.30% 37.65% N/A N/A N/A 7.43%  
Emerging Markets Equity Index Option $10.30 +0.05 0.49% 13.73% 25.33% N/A N/A N/A 1.57% 1/27/2022
Benchmark 14.56% 27.08% N/A N/A N/A 2.05%  
  1. 1All performance figures in the table represent the average annual compound rate of total return.↩

Daily as of November 19, 2024 Performance as of October 31, 2024
Investment Option1 Unit Value Change $ Change % Year to Date 1 year 3 year 5 year 10 year Since Inception Inception Date
Principal Plus Interest Option* $18.55 0.00 0.00% 2.55% 3.00% 2.22% 2.02% 1.85% 2.61% 11/28/2000
Benchmark 4.62% 5.59% 3.78% 2.44% 1.71% 1.71%  
  1. *The Principal Plus Interest Option seeks to preserve capital and provide stable return. The assets in the portfolio are allocated to a funding agreement issued by TIAA-CREF life to the Board as the policyholder on behalf of the Plan under the agreement. This funding agreement provides for a return of principal plus a guaranteed rate of interest and allows for the possibility that additional interest may be credited as declared periodically by TIAA-CREF Life. The interest rate guarantee is made to the State of Michigan only, and not to account owners or beneficiaries.↩
  2. 1All performance figures in the table represent the average annual compound rate of total return.↩
The performance data quoted represents 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 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.