A target-date investment saves you time and effort by making it easier to choose investments. You can pick one or more target-date investments and let the investment professionals do the rest for you.
The year in the investment fund is the target retirement date. As you get closer to retirement, your investment will become less risky. Each target-date investment has a mix of investments that’s good for your age now—and will change to stay appropriate for your age as you move closer to your retirement goal.