Fund Description

The fund invests in a mix of underlying mutual funds using an asset allocation strategy designed for investors in retirement. Its asset allocation may be affected by factors such as whether the underlying funds are accepting additional investments, and allocations may not add to 100% due to rounding and/or less than 1% invested in other assets. Indirect fixed income holdings include a diversified mix of U.S. government, agency, and investment-grade corporate bonds across maturities; U.S. Treasury inflation-protected obligations; mortgage- and asset-backed securities; and hedged investment-grade foreign bonds. Indirect stock holdings include diversified U.S. and foreign large-, mid-, and small-cap stocks.