XML 10 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2019
Entity Registrant Name dei_EntityRegistrantName PUTNAM TAX EXEMPT INCOME FUND
Entity Central Index Key dei_EntityCentralIndexKey 0000205802
Amendment Flag dei_AmendmentFlag false
Entity Inv Company Type dei_EntityInvCompanyType N-1A
Trading Symbol dei_TradingSymbol PTAEX
Document Creation Date dei_DocumentCreationDate Mar. 23, 2020
Document Effective Date dei_DocumentEffectiveDate Jul. 01, 2020
Prospectus Date rr_ProspectusDate Jan. 30, 2020
Putnam Tax Exempt Income Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
Prospectus Supplement   March 23, 2020 

 

Putnam Tax Exempt Income Fund
Prospectus dated January 30, 2020

Effective July 1, 2020 (the “Effective Date”), the following information replaces similar information provided with respect to class A shares of the fund under Fund Summary Fees and expenses:

Annual fund operating expenses
(expenses you pay each year as a percentage of the value of your investment)

        Total annual 
    Distribution and  Other  fund operating 
Share class  Management Fees  service (12b-1) fees  expenses  expenses 
Class A  0.43%  0.25%†  0.13%  0.81% 

 

† Distribution and service (12b-1) fees have been restated to reflect current fees. For periods prior to July 1, 2020, the distribution and service (12b-1) fee rate for class A shares is expected to be 0.22%, which is a blended rate. Effective July 1, 2020, the rate for class A shares is 0.25%.

Example

The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.

Share class  1 year  3 years  5 years  10 years 
Class A  $479  $648  $832  $1,362 
 
   

 

On the Effective Date, the following disclosure replaces similar disclosure under Distribution plans and payments to dealers – Distribution and service (12b-1) plans.

Distribution and service (12b-1) plans. The fund’s 12b-1 plans provide for payments at annual rates (based on average net assets) of up to 0.35% on class A shares and 1.00% on class B and class C shares. The Trustees currently limit payments on class B shares to 0.85% of average net assets, and effective July 1, 2020, will limit payments on class A shares to 0.25% of average net assets. For periods prior to July 1, 2020, the annual rate for class A shares will equal the weighted average of (i) 0.20% of the net assets of the fund attributable to class A shares purchased and paid for prior to April 1, 2005 and (ii) 0.25% of all other net assets of the fund attributable to class A shares. Because these fees are paid out of the fund’s assets on an ongoing basis, they will increase the cost of your investment. The higher fees for class B and class C shares may cost you more over time than paying the initial sales charge for class A shares. Class R6 and class Y shares, for shareholders who are eligible to purchase them, will be less expensive than other classes of shares because they do not bear sales charges or 12b-1 fees.

teisuppx1x1.jpg
320863 3/20 

 

Putnam Tax Exempt Income Fund | Class A  
Prospectus [Line Items] rr_ProspectusLineItems  
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25% [1]
Other expenses rr_OtherExpensesOverAssets 0.13%
Total annual fund operating expenses rr_ExpensesOverAssets 0.81%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 479
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 648
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 832
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,362
[1] Distribution and service (12b-1) fees have been restated to reflect current fees. For periods prior to July 1, 2020, the distribution and service (12b-1) fee rate for class A shares is expected to be 0.22%, which is a blended rate. Effective July 1, 2020, the rate for class A shares is 0.25%.