Virginia Tech
PAE-T2-6: Socially Responsible Retirement Plan

CREF Social Choice: Portfolio Strategies This variable annuity account seeks a favorable long-term rate of return that reflects the investment performance of the financial markets while giving special consideration to certain social criteria. The account is balanced, with assets divided between domestic and foreign stocks (about 60%) and bonds and other fixed income securities, including money market instruments (about 40%). The domestic equity portion of the account attempts to track the return of the U.S. stock market, as measured by the Russell 3000 Index, while the foreign equity portion attempts to match the return of developed international markets, as measured by the MSCI EAFE + Canada Index. The fixed income portion seeks a favorable long-term total return from investment-grade, fixed-rate securities. The account invests only in companies that are suitable from a financial perspective and whose activities are consistent with the account's social criteria.