Vanguard Target Retirement Funds Merger

Your employer provides you with a diversified menu of investment options appropriate for long-term retirement savings, in partnership with its independent investment advisor. Recently, we were made aware of a fund merger that will occur within the Vanguard Institutional Target Retirement suite of funds. As a result of this merger, the expense ratio for the Vanguard Target Retirement Funds is expected to be reduced from the current 0.09% to 0.08% annually, providing additional cost savings to plan participants.

What to expect

On or around February 11, 2022, assets currently invested in the Institutional share class of the Vanguard Target Retirement Funds will automatically be consolidated into the Investor share class of the same fund. Details of these changes can be found in the following table:

Assets invested in and contributions to: Ticker Will be directed to: Ticker
Vanguard Inst Target Ret 2015 Fund VITVX Vanguard Target Retirement 2015 Investor VTXVX
Vanguard Inst Target Ret 2020 Fund VITWX Vanguard Target Retirement 2020 Investor VTWNX
Vanguard Inst Target Ret 2025 Fund VRIVX Vanguard Target Retirement 2025 Investor VTTVX
Vanguard Inst Target Ret 2030 Fund VTTWX Vanguard Target Retirement 2030 Investor VTHRX
Vanguard Inst Target Ret 2035 Fund VITFX Vanguard Target Retirement 2035 Investor VTTHX
Vanguard Inst Target Ret 2040 Fund VIRSX Vanguard Target Retirement 2040 Investor VFORX
Vanguard Inst Target Ret 2045 Fund VITLX Vanguard Target Retirement 2045 Investor VTIVX
Vanguard Inst Target Ret 2050 Fund VTRLX Vanguard Target Retirement 2050 Investor VFIFX
Vanguard Inst Target Ret 2055 Fund VIVLX Vanguard Target Retirement 2055 Investor VFFVX
Vanguard Inst Target Ret 2060 Fund VILVX Vanguard Target Retirement 2060 Investor VTTSX
Vanguard Inst Target Ret 2065 Fund VSXFX Vanguard Target Retirement 2065 Investor VLXVX
Vanguard Inst Target Ret Income Fund VITRX Vanguard Target Retirement Income Investor VTINX

Understanding the details

No action is required by participants. If you have assets in the impacted funds and/or are making deferrals into those funds, the appropriate changes will automatically occur and may be viewed online by logging into your account or on your 1st Quarter 2022 participant statement.

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