The Teachers Insurance and Annuity Association-College Retirement Equities fund has reduced the expense charges of its CREF variable annuity investment accounts and its TIAA separate accounts. The fees cover annual investment and operating expenses.
Among the reductions: the stock and bond market account's expense ratios will fall 2 cents to 0.32% and 0.29%, respectively while the growth account fee will fall 5 cents to 0.37%, effective May 1. In addition, the annual expense ratio for the new TIAA real estate separate account will drop to 0.70% from 0.75%. The reduction follows a recently announced lowering of fees by the Vanguard Group.
