Effective 1/29/21, this fund modified the landing point of its glide path (the strategic asset allocation of a target date fund over time) to be in line with the required minimum distribution age of 72. Additionally, the fund changed its primary equity benchmark from MSCI All Country World Index (MSCI ACWI) gross of taxes on dividends to MSCI ACWI net of taxes on dividends.
Beginning on 10/19/18, Class C shares held for 10 years or more will automatically convert to Class A shares. Thereafter, Class C shares held for 10 years or more will automatically convert to Class A shares on a monthly basis. This conversion allows shareholders to take advantage of the lower expenses offered by Class A shares. Please see the prospectus supplement for more information. If you have any questions, please contact your financial professional or call Franklin Templeton.
Effective 9/10/18, certain sales charges and commissions paid to dealers on Class A and A1 shares of our mutual funds changed. Please see the prospectus supplement for more information. If you have additional questions, please contact your financial professional or call Franklin Templeton.
The fund's investment goal is to seek the highest level of long-term total return consistent with its asset allocation. Total return consists of both capital appreciation and income, with the fund placing an increasing emphasis on fixed income as the target date 2045 approaches, and reaching its final and most conservative asset allocation approximately seven years after the target year. The fund invests
primarily in a combination of other Franklin Templeton mutual funds and Franklin
Templeton and third party exchange-traded funds (ETFs).
Along with an expectation to retire in or near the year 2045 and delay withdrawals until required minimum distribution age, the fund is designed for investors that want:
We do not publish a style box for this fund.
Through a dynamic asset allocation approach, the fund provides investors with a target retirement date solution that seeks to:
Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares.