The Vanguard Target Retirement 2005 Fund will merge with
the Vanguard Target Retirement Income Fund as their asset allocations
become nearly identical. The Target Retirement Funds are designed to
reach an allocation of 65% bonds, 30% stocks, and 5% short-term reserves
within seven years after their target date, according to the company. The 2005 Fund will be closed to new investors, effective
Vanguard has also filed a registration statement with the U.S. Securities and Exchange Commission for the Vanguard Target Retirement 2060 Fund, which is aimed at investors who plan to retire and leave the workforce in or within a few years of 2060. At the time the fund is launched in early 2012, those investors will be 18 to 20 years old.
The expense ratio of the 2060 Fund is expected to be 0.18%, similar to other funds in the lineup. The expected initial allocation is 63% Vanguard Total Stock Market Index Fund; 10% Vanguard Total Bond Market II Index Fund; and 27% Vanguard Total International Stock Index Fund.For more information, visit http://www.vanguard.com.