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                    <ccc>XXXXXXXX</ccc>
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            <regFileNumber>811-21598</regFileNumber>
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            <regLei>5493005X9RIMZKJNE675</regLei>
            <regStreet1>100 FEDERAL STREET</regStreet1>
            <regCity>BOSTON</regCity>
            <regStateConditional regCountry="US" regState="US-MA"/>
            <regZipOrPostalCode>02110</regZipOrPostalCode>
            <regPhone>1-800-225-1581</regPhone>
            <seriesName>Putnam Retirement Advantage 2025 Fund</seriesName>
            <seriesId>S000067464</seriesId>
            <seriesLei>549300BDJ31UGZREKT13</seriesLei>
            <repPdEnd>2020-08-31</repPdEnd>
            <repPdDate>2020-08-31</repPdDate>
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                <title>MUTUAL FUND</title>
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                <payoffProfile>Long</payoffProfile>
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        <signature>
            <ncom:dateSigned>2020-10-28</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
