Villanova Retirement Savings Plan Investment Transfer Strategy How your investments will transfer to the revised options On October 15, 2014, your existing assets and future contributions to the current investment options shown below will be transferred or “mapped” to the replacement options. You will see that most of the plan’s current investment options will continue to be offered, but many will now be available at a lower cost. Your existing assets in TIAA-CREF annuity accounts will remain where they are unless you choose to transfer them to the revised investment options. Check your most recent quarterly account statement to determine how your investments will be affected. A Welcome Package will be mailed to your home in mid-September. Once you receive your TIAA-CREF Welcome Package, you can update your beneficiary designation and direct any future contributions to the revised investment options. You can also update the investment choices for your current TIAA-CREF assets. When the transition is completed, the week of October 15, 2014, and the Blackout Period ends, you can direct your existing assets from Vanguard to other options on the revised investment menu. To update your account, you will need your current log-in information. If you are new to TIAA-CREF, you will need to establish a user ID and password to access your account online. We encourage you to schedule a One-on-One Counseling Session with a TIAA-CREF Financial Consultant before transferring assets. Vanguard Mapping Instructions SHARE CLASS TICKER Vanguard 500 Index Fund Admiral VFIAX u Vanguard Capital Opportunity Fund Admiral VHCAX VEIEX u Vanguard Emerging Markets Stock Index Fund Admiral VEMAX Investor VEXPX u Vanguard Explorer Fund Admiral VEXRX Vanguard Extended Market Index Fund Investor VEXMX u Vanguard Extended Market Index Fund Institutional VIEIX Vanguard GNMA Fund Investor VFIIX u Vanguard GNMA Fund Admiral VFIJX Vanguard High-Yield Corporate Fund Investor VWEHX u Vanguard High-Yield Corporate Fund Admiral VWEAX Vanguard Inflation Protected Securities Fund Investor VIPSX u Vanguard Inflation Protected Securities Fund Admiral VAIPX Vanguard International Growth Fund Investor VWIGX u Vanguard International Growth Fund Admiral VWILX Vanguard Long-Term Investment-Grade Fund Investor VWESX u Vanguard Long-Term Investment-Grade Fund Admiral VWETX Vanguard PRIMECAP Fund Investor VPMCX u Vanguard PRIMECAP Fund Admiral VPMAX Vanguard Prime Money Market Fund Investor VMMXX u Vanguard Prime Money Market Fund Institutional VMRXX Vanguard REIT Index Fund Investor VGSIX u Vanguard REIT Index Fund Admiral VGSLX Vanguard Short-Term Investment-Grade Fund Investor VFSTX u Vanguard Short-Term Investment-Grade Fund Institutional VFSIX Vanguard Total Bond Market Index Fund Investor VBMFX u Vanguard Total Bond Market Index Fund Institutional VBTIX SHARE CLASS TICKER Vanguard 500 Index Fund Investor VFINX u Vanguard Capital Opportunity Fund Investor VHCOX Vanguard Emerging Markets Stock Index Fund Investor Vanguard Explorer Fund EXISTING INVESTMENT NEW INVESTMENT OPTION SHARE CLASS TICKER Vanguard Total International Stock Index Fund Institutional VTSNX u Vanguard Total Stock Market Index Fund Institutional VITSX VWUSX u Vanguard U.S. Growth Fund Admiral VWUAX Investor VWINX u Vanguard Wellesley Income Fund Admiral VWIAX Vanguard Wellington Fund Investor VWELX u Vanguard Wellington Fund Admiral VWENX Vanguard Windsor II Fund Investor VWNFX u Vanguard Windsor II Fund Admiral VWNAX Vanguard Convertible Securities Fund Investor VCVSX u Vanguard Convertible Securities Fund Investor VCVSX Vanguard Dividend Growth Fund Investor VDIGX u Vanguard Dividend Growth Fund Investor VDIGX Vanguard FTSE Social Index Fund Investor VFTSX u Vanguard FTSE Social Index Fund Investor VFTSX Vanguard Global Equity Fund Investor VHGEX u Vanguard Global Equity Fund Investor VHGEX Vanguard International Explorer Fund Investor VINEX u Vanguard International Explorer Fund Investor VINEX Vanguard International Value Fund Investor VTRIX u Vanguard International Value Fund Investor VTRIX Vanguard Selected Value Fund Investor VASVX u Vanguard Selected Value Fund Investor VASVX Vanguard STAR Fund Investor VGSTX u Vanguard STAR Fund Investor VGSTX Vanguard Target Retirement 2010 Fund Investor VTENX u Vanguard Target Retirement 2010 Fund Investor VTENX Vanguard Target Retirement 2015 Fund Investor VTXVX u Vanguard Target Retirement 2015 Fund Investor VTXVX Vanguard Target Retirement 2020 Fund Investor VTWNX u Vanguard Target Retirement 2020 Fund Investor VTWNX Vanguard Target Retirement 2025 Fund Investor VTTVX u Vanguard Target Retirement 2025 Fund Investor VTTVX Vanguard Target Retirement 2030 Fund Investor VTHRX u Vanguard Target Retirement 2030 Fund Investor VTHRX Vanguard Target Retirement 2035 Fund Investor VTTHX u Vanguard Target Retirement 2035 Fund Investor VTTHX Vanguard Target Retirement 2040 Fund Investor VFORX u Vanguard Target Retirement 2040 Fund Investor VFORX Vanguard Target Retirement 2045 Fund Investor VTIVX u Vanguard Target Retirement 2045 Fund Investor VTIVX Vanguard Target Retirement 2050 Fund Investor VFIFX u Vanguard Target Retirement 2050 Fund Investor VFIFX Vanguard Target Retirement 2055 Fund Investor VFFVX u Vanguard Target Retirement 2055 Fund Investor VFFVX Vanguard Target Retirement 2060 Fund Investor VTTSX u Vanguard Target Retirement 2060 Fund Investor VTTSX Vanguard Target Retirement Income Fund Investor VTINX u Vanguard Target Retirement Income Fund Investor VTINX N/A N/A u Brokerage Account at TIAA-CREF N/A N/A SHARE CLASS TICKER Vanguard Total International Stock Index Fund Investor VGTSX u Vanguard Total Stock Market Index Fund Investor VTSMX Vanguard U.S. Growth Fund Investor Vanguard Wellesley Income Fund EXISTING INVESTMENT Brokerage Account at Vanguard NEW INVESTMENT OPTION Mapping Instructions from Existing TIAA-CREF Funds to Retirement Choice Contracts SHARE CLASS TICKER Vanguard Target Retirement 2010 Fund Investor VTENX u Vanguard Target Retirement 2015 Fund Investor VTXVX TLWIX u Vanguard Target Retirement 2020 Fund Investor VTWNX Institutional TLQIX u Vanguard Target Retirement 2025 Fund Investor VTTVX TIAA-CREF Lifecycle Index 2030 Fund Institutional TLHIX u Vanguard Target Retirement 2030 Fund Investor VTHRX TIAA-CREF Lifecycle Index 2035 Fund Institutional TLYIX u Vanguard Target Retirement 2035 Fund Investor VTTHX TIAA-CREF Lifecycle Index 2040 Fund Institutional TLZIX u Vanguard Target Retirement 2040 Fund Investor VFORX TIAA-CREF Lifecycle Index 2045 Fund Institutional TLXIX u Vanguard Target Retirement 2045 Fund Investor VTIVX TIAA-CREF Lifecycle Index 2050 Fund Institutional TLLIX u Vanguard Target Retirement 2050 Fund Investor VFIFX TIAA-CREF Lifecycle Index 2055 Fund Institutional TTIIX u Vanguard Target Retirement 2055 Fund Investor VFFVX TIAA-CREF Lifecycle Index Retirement Income Fund Institutional TRILX u Vanguard Target Retirement Income Fund Investor VTINX N/A Variable Annuity u Vanguard Prime Money Market Fund (new contributions only) Institutional VMRXX SHARE CLASS TICKER TIAA-CREF Lifecycle Index 2010 Fund Institutional TLTIX u TIAA-CREF Lifecycle Index 2015 Fund Institutional TLFIX TIAA-CREF Lifecycle Index 2020 Fund Institutional TIAA-CREF Lifecycle Index 2025 Fund EXISTING INVESTMENT CREF Money Market Account (Current Assets remain in Money Market) NEW INVESTMENT OPTION Important note: The date of plan transfers and the end of the Blackout Period depend on the accurate, timely transfer of data from Vanguard to TIAA-CREF. If this does not occur, these dates may be delayed. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity and may lose value. Investment products may be subject to market and other risk factors. See the applicable product literature, or visitwww.tiaa-cref.org/villanova for details. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 or go to www.tiaa-cref.org/villanova for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. © 2014 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017 C18505 331422_429702a (07/14)