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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