Fund Description

The fund seeks to achieve its objectives by investing in a mix of underlying American Funds in varying combinations and weightings across growth, growth-and-income, equity-income, balanced and fixed income categories. It is designed for investors retiring in or near its target date, but shares may be purchased throughout the fund's life, including after the target date, with equity and fixed income exposure continuing in varying amounts. The investment adviser periodically reviews, rebalances or modifies underlying allocations and may maintain allocations amid short-term market moves. The investment adviser anticipates that the fund will invest its assets within a range that deviates no more than 10% above or below the investment approach. The glide path becomes more conservative over time, seeking dividend income, ongoing equity exposure for growth potential, and fixed income for current income, capital preservation and inflation protection.