AMENDED AND RESTATED EXPENSE REIMBURSEMENT AGREEMENT FOR THE TIAA-CREF FUNDS

Exhibit (d)(98)

AMENDED AND RESTATED

This Agreement is entered into effective as of November 16, 2018, by and between TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, and Teachers Advisors, LLC (“Advisors”), a Delaware limited liability company.

WHEREAS, the Trust is an open-end diversified management investment company currently consisting of various investment portfolios, each with up to six classes (collectively, the “Funds”).

WHEREAS, Advisors and the Trust have entered into an Amended and Restated Investment Management Agreement, as amended, (the “Investment Management Agreement”) providing for investment management services to be provided by Advisors to the Funds for an investment management fee;

WHEREAS, the Lifecycle Retirement Income, Lifecycle 2010, Lifecycle 2015, Lifecycle 2020, Lifecycle 2025, Lifecycle 2030, Lifecycle 2035, Lifecycle 2040, Lifecycle 2045, Lifecycle 2050, Lifecycle 2055, Lifecycle 2060, Lifecycle Index Retirement Income, Lifecycle Index 2010, Lifecycle Index 2015, Lifecycle Index 2020, Lifecycle Index 2025, Lifecycle Index 2030, Lifecycle Index 2035, Lifecycle Index 2040, Lifecycle Index 2045, Lifecycle Index 2050, Lifecycle Index 2055 and Lifecycle Index 2060 Funds (the “Top-Tier Funds”) invest in Class W shares of certain other Funds (the “Underlying Funds”); and

WHEREAS, with respect to Retirement Class, Retail Class, Institutional Class, Premier Class, Advisor Class and Class W shares, the parties hereto wish to lessen the impact of the total expenses of the Funds (collectively, the “Total Expenses”).

NOW, THEREFORE, the parties do hereby agree as follows:

1.	Term of Agreement. This Agreement shall commence as of November 16, 2018. This Agreement shall continue in force per the paragraphs below unless earlier terminated by written agreement of the parties hereto.

This Agreement shall continue in force until the close of business on April 30, 2019 with respect to the following Funds: Large-Cap Value, Mid-Cap Value, Quant Small-Cap Equity, Emerging Markets Equity (with respect to the Retirement Class only), Social Choice Bond (with respect to the Retirement Class only), Money Market Fund (with respect to all classes except the Institutional Class and Class W) and Quant International Small-Cap Equity Funds.

This Agreement shall continue in force until the close of business on February 28, 2019 with respect to the following Funds: Growth & Income, International Equity, Emerging Markets Equity (with respect to all classes except the Retirement Class), Large-Cap Growth, Mid-Cap Growth, Large-Cap Growth Index, Large-Cap Value Index, Equity Index, S&P 500 Index, Small-Cap Blend Index, International Equity Index, Emerging Markets Equity Index, Quant International Equity, Social Choice Equity, International Opportunities, Emerging Markets Debt, Social Choice International Equity, Social Choice Low Carbon Equity, Quant Small/Mid-Cap Equity, International Bond, Quant Large-Cap Growth and Quant Large-Cap Value Funds.

This Agreement shall continue in force until the close of business on July 31, 2019 with respect to the following Funds: Real Estate Securities, Bond, Bond Plus, High-Yield, 5–15 Year Laddered Tax-Exempt Bond, Inflation Linked Bond, Short-Term Bond, Bond Index, Short-Term Bond Index, Social Choice Bond and Money Market Funds.

This Agreement shall continue in force until the close of business on September 30, 2019 with respect to the Top-Tier, Managed Allocation, Lifestyle Income, Lifestyle Conservative, Lifestyle Moderate, Lifestyle Growth and Lifestyle Aggressive Growth Funds.

This Agreement shall continue in force until the close of business on November 15, 2019 with respect to the Short Duration Impact Bond and Green Bond Funds.

2.	Reimbursement of Expenses of the Funds. Advisors hereby agrees to reimburse the Funds for the Total Expenses of each Class of the Funds that exceed, on an annual basis, the percentages of average daily net assets set forth on Exhibit A. Total Expenses under this Agreement shall not be construed to include Acquired Fund Fees and Expenses (as defined in the Securities and Exchange Commission’s Form N-1A), interest, taxes, brokerage commissions or other transactional expenses and any extraordinary expenses incurred by a Fund. For the Top-Tier Funds, Total Expenses under this Agreement shall also not be construed to include any expenses originally attributable to Class W shares of the Underlying Funds.

3.	Amount and Frequency of Reimbursements. The amount of reimbursement, if any, for each Fund shall be determined monthly. The frequency of such reimbursements shall be made from time to time as agreed upon between the Trust and Advisors.

4.	Assignment and Modification. This Agreement may be modified or assigned only by a writing signed by all of the parties.

5.	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first written above.

TIAA-CREF FUNDS, on behalf of each of the Funds


By:
Title:

TEACHERS ADVISORS, LLC


By:
Title:

EXHIBIT A

	Inst Cl	Rtmt Cl	Retail Cl	Premier Cl	Advisor Cl	Class W

Growth & Income Fund	0.520%	0.770%	0.910%	0.670%	0.670%	0.520%

International Equity Fund	0.600%	0.850%	0.990%	0.750%	0.750%	0.600%

Emerging Markets Equity Fund¹	N/A	1.100%	N/A	N/A	N/A	N/A

Emerging Markets Equity Fund²	0.950%	1.200%	1.340%	1.100%	1.100%	0.950%

International Opportunities Fund	0.700%	0.950%	1.090%	0.850%	0.850%	0.700%

Large-Cap Growth Fund	0.520%	0.770%	0.910%	0.670%	0.670%	0.520%

Large-Cap Value Fund¹	0.500%	0.750%	0.890%	0.650%	0.650%	0.500%

Large-Cap Value Fund²	0.520%	0.770%	0.910%	0.670%	0.670%	0.520%

Mid-Cap Growth Fund	0.550%	0.800%	0.940%	0.700%	0.700%	N/A

Mid-Cap Value Fund¹	0.505%	0.755%	0.895%	0.655%	0.655%	N/A

Mid-Cap Value Fund²	0.550%	0.800%	0.940%	0.700%	0.700%	N/A

Quant Small-Cap Equity Fund¹	0.510%	0.760%	0.870%	0.660%	0.660%	0.510%

Quant Small-Cap Equity Fund²	0.530%	0.780%	0.920%	0.680%	0.680%	0.530%

Quant Small/Mid-Cap Equity Fund	0.530%	0.780%	0.920%	0.680%	0.680%	0.530%

Large-Cap Growth Index Fund	0.090%	0.340%	N/A	N/A	0.240%	0.090%

Large-Cap Value Index Fund	0.090%	0.340%	N/A	N/A	0.240%	0.090%

Equity Index Fund	0.090%	0.340%	0.480%	0.240%	0.240%	0.090%

S&P 500 Index Fund	0.090%	0.340%	N/A	N/A	0.240%	0.090%

Small-Cap Blend Index Fund	0.090%	0.340%	N/A	N/A	0.240%	0.090%

International Equity Index Fund	0.150%	0.400%	N/A	0.300%	0.300%	0.150%

Emerging Markets Equity Index Fund	0.250%	0.500%	0.640%	0.400%	0.400%	0.250%

Social Choice Equity Fund	0.220%	0.470%	0.610%	0.370%	0.370%	N/A

Real Estate Securities Fund	0.570%	0.820%	0.960%	0.720%	0.720%	N/A

Managed Allocation Fund	0.000%	0.250%	0.250%	N/A	N/A	N/A

Bond Fund	0.350%	0.600%	0.700%	0.500%	0.500%	0.350%


¹	Effective November 16, 2018 to April 30, 2019. For this effective period, these percentages supersede any other percentages then in effect.
²	Effective November 16, 2018 to February 28, 2019.

	Inst Cl	Rtmt Cl	Retail Cl	Premier Cl	Advisor Cl	Class W

Bond Plus Fund	0.350%	0.600%	0.700%	0.500%	0.500%	0.350%

Bond Index Fund	0.130%	0.380%	0.480%	0.280%	0.280%	0.130%

Short-Term Bond Fund	0.300%	0.550%	0.650%	0.450%	0.450%	0.300%

Short-Term Bond Index Fund	0.120%	0.370%	0.470%	0.270%	0.270%	0.120%

High-Yield Fund	0.400%	0.650%	0.750%	0.550%	0.550%	0.400%

5–15 Year Laddered Tax-Exempt Bond Fund	0.300%	N/A	0.650%	N/A	0.450%	N/A

Inflation-Linked Bond Fund	0.300%	0.550%	0.650%	0.450%	0.450%	0.300%

Social Choice Bond Fund³	N/A	0.620%	N/A	N/A	N/A	N/A

Social Choice Bond Fund⁴	0.400%	0.650%	0.750%	0.550%	0.550%	N/A

Social Choice Low Carbon Equity Fund	0.320%	0.570%	0.710%	0.470%	0.470%	N/A

Social Choice International Equity Fund	0.400%	0.650%	0.790%	0.550%	0.550%	N/A

Emerging Markets Debt Fund	0.650%	0.900%	1.000%	0.800%	0.800%	0.650%

International Bond Fund	0.650%	0.900%	1.000%	0.800%	0.800%	0.650%

Quant International Small-Cap Equity Fund¹	0.700%	0.850%	1.090%	0.850%	0.850%	0.700%

Quant International Small-Cap Equity Fund²	0.750%	1.000%	1.140%	0.900%	0.900%	0.750%

Xxxxx Xxxxxx Xxxx⁰	X/X	0.280%	0.450%	0.280%	0.270%	N/A

Money Market Fund⁴	0.150%	0.400%	0.500%	0.300%	0.300%	0.150%

Quant Large-Cap Growth Fund	0.400%	N/A	N/A	N/A	0.550%	0.400%

Quant Large-Cap Value Fund	0.400%	N/A	N/A	N/A	0.550%	0.400%

Quant International Equity Fund	0.500%	N/A	N/A	N/A	0.650%	0.500%

Short Duration Impact Bond Fund⁵	0.350%	0.600%	0.700%	0.500%	0.500%	N/A

Short Duration Impact Bond Fund⁶	0.350%	0.600%	0.680%	0.500%	0.500%	N/A

Green Bond Fund⁶	0.450%	0.620%	0.710%	0.600%	0.600%	N/A


³	Effective November 16, 2018 to April 30, 2019. For this effective period, these percentages supersede any other percentages then in effect.
⁴	Effective November 16, 2018 to July 31, 2019.
⁵	Effective November 16, 2018 to November 15, 2019.
⁶	Effective November 16, 2018 to April 30, 2020. For this effective period, these percentages supersede any other percentages then in effect. The expense caps denoted by this footnote describe certain voluntary expense waivers and have been provided in this Agreement for informational purposes only. They are not otherwise subject to the terms and conditions of this Agreement.

	Inst Cl	Rtmt Cl	Retail Cl	Premier Cl	Advisor Cl	Class W

Green Bond Fund⁵	0.450%	0.700%	0.800%	0.600%	0.600%	N/A

Lifecycle 2010 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2015 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2020 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2025 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2030 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2035 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2040 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2045 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2050 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2055 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle 2060 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle Retirement Income Fund	0.000%	0.250%	0.250%	0.150%	0.150%	N/A

Lifecycle Index 2010 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle Index 2015 Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifecycle Index 2020 Fund	0.010%	0.260%	N/A	0.160%	0.160%	N/A

Lifecycle Index 2025 Fund	0.018%	0.268%	N/A	0.168%	0.168%	N/A

Lifecycle Index 2030 Fund	0.020%	0.270%	N/A	0.170%	0.170%	N/A

Lifecycle Index 2035 Fund	0.031%	0.281%	N/A	0.181%	0.181%	N/A

Lifecycle Index 2040 Fund	0.030%	0.280%	N/A	0.180%	0.180%	N/A

Lifecycle Index 2045 Fund	0.030%	0.280%	N/A	0.180%	0.180%	N/A

Lifecycle Index 2050 Fund	0.030%	0.280%	N/A	0.180%	0.180%	N/A

Lifecycle Index 2055 Fund	0.040%	0.290%	N/A	0.190%	0.190%	N/A

Lifecycle Index 2060 Fund	0.040%	0.290%	N/A	0.190%	0.190%	N/A

Lifecycle Index Retirement Income Fund	0.000%	0.250%	N/A	0.150%	0.150%	N/A

Lifestyle Income Fund	0.100%	0.350%	0.490%	0.250%	0.250%	N/A

Lifestyle Conservative Fund	0.100%	0.350%	0.490%	0.250%	0.250%	N/A

Lifestyle Moderate Fund	0.100%	0.350%	0.490%	0.250%	0.250%	N/A

Lifestyle Growth Fund	0.100%	0.350%	0.490%	0.250%	0.250%	N/A

Lifestyle Aggressive Growth Fund	0.100%	0.350%	0.490%	0.250%	0.250%	N/A

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AMENDED AND RESTATED EXPENSE REIMBURSEMENT AGREEMENT FOR THE TIAA-CREF FUNDS

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