Vanguard has notified Nationwide of the merger of the Vanguard Target Retirement 2015 Fund (Ticker: VTXVX) into the Vanguard Target Retirement Income Fund (Ticker: VTINX). The effective date of this merger was July 8, 2022. On that date, all shares held in the Vanguard Target Retirement 2015 Fund were converted into shares of the Vanguard Target Retirement Income Fund. Investment elections to the closing fund for future contributions and other purchases were also redirected to the Vanguard Target Retirement Income Fund.
This action is expected. The Vanguard Target Retirement Funds continue on their glidepath for seven years past the target date reflected in the fund’s name, at which point the glidepath investment allocation of the Target Retirement Fund coincides with the investment allocation of the Income Fund. Because of this, the underlying investments remain largely consistent. Note also that the expense ratio for both funds is 0.08% annually.
No action is required of participants invested in the Vanguard Target Retirement 2015 Fund. The actions described above occurred automatically on July 8, 2022. Participants will see this activity reflected in their online account and on their 3rd Quarter 2022 participant account statements issued in October.