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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Z5Zx3VqMmqABzNLI+XnzGQ==

<SEC-DOCUMENT>0000930413-99-001193.txt : 19990916
<SEC-HEADER>0000930413-99-001193.hdr.sgml : 19990916
ACCESSION NUMBER:		0000930413-99-001193
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLLEGE RETIREMENT EQUITIES FUND
		CENTRAL INDEX KEY:			0000777535
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				136022042
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	033-00480
		FILM NUMBER:		99711699

	BUSINESS ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129164905

	MAIL ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<DESCRIPTION>SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 1999
<TEXT>


Supplement
dated September 15, 1999
to the Prospectus dated May 1, 1999
for the College Retirement Equities Fund

Tax Consequences of Allocating to the CREF Inflation-Linked Bond Account under a
CREF Annuity for Self-Remitted Non-Qualified Funds

If you have a CREF  certificate  which was set up only to receive  self-remitted
non-qualified  funds  (e.g.,  money that is not part of a pension  plan that you
remit  to  us   directly)   and  you   allocate  any  such  funds  to  the  CREF
Inflation-Linked Bond Account, then earnings, if any, on your total accumulation
under the  certificate are not eligible for  tax-deferral.  You may therefore be
required to pay taxes on such earnings in any year in which you allocated  funds
under the certificate to the Inflation-Linked Bond Account.

If you any  questions  on this  Supplement  or if you would like to discuss this
matter in more detail, please telephone our counseling center at 1 800 842-2776.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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