Average Annual Rate of Return
Years Ended June 30, 1995
ISSUER FUND NAME One Year Five Years 10 Years
MONEY MARKET FUNDS
CREF Money Market 5.35 4.83 n/a
FIDELITY Retirement Government 5.19 4.62 n/a
VANGUARD Prime Portfolio 5.37 4.80 6.21
91 Day Treasury Bill Index - Money Market 5.56 4.74 5.81
BOND FUNDS -- U.S.
CREF Bond Market 11.86 9.25 n/a
FIDELITY Intermediate Bond 8.68 8.55 8.76
FIDELITY Investment Grade Bond 9.50 9.89 9.61
FIDELITY GNMA (Mortgages) 12.16 8.35 n/a
VANGUARD GNMA (Mortgages) 12.47 9.08 9.56
VANGUARD Short-Term Corporate Bond 8.60 8.04 8.43
VANGUARD Long-Term Corporate Bond 16.57 11.57 10.86
VANGUARD Long-Term U.S. Treasury Bond 18.61 11.32 n/a
VANGUARD Total Bond Market Portfolio 12.30 9.21 n/a
Lehman Brothers U.S. Aggregate Bond Index -- U.S. Bonds 12.55 9.41 10.01
BOND FUNDS -- GLOBAL
FIDELITY Global Bond 5.21 6.58 n/a
Salomon World Government Bond Index -- Global Bonds 18.79 12.94 13.08
STOCK FUNDS -- U.S.
CREF Stock 19.01 10.90 14.23
CREF Growth 27.42 n/a n/a
CREF Equity Index 24.34 n/a n/a
FIDELITY Growth Company 30.66 15.89 17.24
FIDELITY Value 14.43 15.34 13.42
FIDELITY Magellan 31.16 16.24 18.28
FIDELITY Contrafund 25.42 20.08 19.36
FIDELITY Disciplined Equity 23.03 14.56 n/a
FIDELITY Growth and Income 20.86 15.38 n/a
FIDELITY OTC (Small Companies) 34.21 16.00 16.37
VANGUARD U.S. Growth 28.44 11.45 12.77
VANGUARD Primecap 38.93 16.45 16.35
VANGUARD Windsor II 19.73 12.28 13.63
VANGUARD Total Stock Market 24.74 n/a n/a
VANGUARD Index S&P 500 25.89 11.90 14.35
Dow Jones Industrial Average Index -- U.S. Stocks 29.06 12.97 16.94
S&P 500 Index -- U.S. Stocks 26.07 12.09 14.64
NASDAQ Composite Index -- U.S. Stocks (Small Companies) 32.22 15.09 12.16
STOCK FUNDS -- GLOBAL & INTERNATIONAL
CREF Global Equities 12.45 n/a n/a
FIDELITY Worldwide 6.36 8.14 n/a
FIDELITY Overseas 2.15 4.26 16.75
FIDELITY Pacific Basin (11.84) 3.41 n/a
VANGUARD International Growth 7.12 5.94 16.75
VANGUARD International Index Pacific (10.65) 2.46 n/a
VANGUARD International Index European 19.20 7.92 n/a
MSCI World Index -- Global Stocks 10.67 7.14 14.08
MSCI Europe, Australia & Far East (EAFE) Index -
International Stocks 1.66 4.69 16.04
BALANCED FUNDS -- U.S. Stocks & Bonds
CREF Social Choice 19.39 11.59 n/a
FIDELITY Puritan 12.12 13.12 13.03
FIDELITY Equity -- Income 17.52 13.36 12.64
VANGUARD Wellington 20.10 11.63 12.61
ASSET ALLOCATION FUNDS
FIDELITY Asset Manager 7.95 12.26 n/a
FIDELITY Asset Manager: Growth 7.88 n/a n/a
ANNUITY FUNDS
TIAA Annuity 6.76 8.11 9.40
1. The "n/a" indicates that the fund has not been in existence for that particular period of time.
2. Any returns in bracks () are negative results.