Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The Morningstar Rating TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Investors cannot directly invest in an index. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. The benchmark asset allocation and glide path for each index in the series is determined once a year and represents market consensus across the universe of target date fund managers. The S&P Target DateĀ® Index Series consists of twelve multi-asset class indices, each corresponding to a particular target retirement date. Historical performance of Class A shares likely would have been different based on differences in share class expense ratios. Historical performance shown for Class A reflects the historical performance of Class I shares adjusted to reflect the higher expenses of Class A for periods prior to the inception date of Class A and is being shown in blue text. The amount of fees and expenses of the Underlying Funds borne by the Fund will vary based on the Fund's allocation of assets to, and annualized net expenses of, the particular Underlying Funds during the Fund's fiscal year. The Fund's Acquired (Underlying) Funds Fees and Expenses are based on a weighted average of the fees and expenses of the Underlying Funds in which it invests. The Fund is operating under the contractual expense limits. The expense limits will continue through at least. Please see the Fund's prospectus for more information. This expense limitation agreement excludes interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses and may be subject to possible recoupment. The Adviser has contractually agreed to limit expenses of the Fund.
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