0001683863-21-005409.txt : 20210928 0001683863-21-005409.hdr.sgml : 20210928 20210928090104 ACCESSION NUMBER: 0001683863-21-005409 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210928 DATE AS OF CHANGE: 20210928 EFFECTIVENESS DATE: 20210928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CHESTER FUNDS CENTRAL INDEX KEY: 0000752177 IRS NUMBER: 232311358 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-92948 FILM NUMBER: 211283834 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PRIMECAP FUND/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/PRIMECAP FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: PRIMECAP FUND INC DATE OF NAME CHANGE: 19920703 0000752177 S000002569 Vanguard Target Retirement Income Fund C000007072 Investor Shares VTINX 0000752177 S000002571 Vanguard Target Retirement 2015 Fund C000007074 Investor Shares VTXVX 0000752177 S000002572 Vanguard Target Retirement 2025 Fund C000007075 Investor Shares VTTVX 0000752177 S000002573 Vanguard Target Retirement 2035 Fund C000007076 Investor Shares VTTHX 0000752177 S000002574 Vanguard Target Retirement 2045 Fund C000007077 Investor Shares VTIVX 0000752177 S000012759 Vanguard Target Retirement 2020 Fund C000034438 Investor Shares VTWNX 0000752177 S000012760 Vanguard Target Retirement 2030 Fund C000034439 Investor Shares VTHRX 0000752177 S000012761 Vanguard Target Retirement 2040 Fund C000034440 Investor Shares VFORX 0000752177 S000012762 Vanguard Target Retirement 2050 Fund C000034441 Investor Shares VFIFX 0000752177 S000029700 Vanguard Target Retirement 2055 Fund C000091317 Investor Shares VFFVX 0000752177 S000035453 Vanguard Target Retirement 2060 Fund C000108861 Investor Shares VTTSX 0000752177 S000049259 Vanguard Institutional Target Retirement 2055 Fund C000155396 Institutional Shares VIVLX 0000752177 S000049260 Vanguard Institutional Target Retirement 2060 Fund C000155397 Institutional Shares VILVX 0000752177 S000049261 Vanguard Institutional Target Retirement Income Fund C000155398 Institutional Shares VITRX 0000752177 S000049262 Vanguard Institutional Target Retirement 2015 Fund C000155399 Institutional Shares VITVX 0000752177 S000049263 Vanguard Institutional Target Retirement 2020 Fund C000155400 Institutional Shares VITWX 0000752177 S000049264 Vanguard Institutional Target Retirement 2025 Fund C000155401 Institutional Shares VRIVX 0000752177 S000049265 Vanguard Institutional Target Retirement 2030 Fund C000155402 Institutional Shares VTTWX 0000752177 S000049266 Vanguard Institutional Target Retirement 2035 Fund C000155403 Institutional Shares VITFX 0000752177 S000049267 Vanguard Institutional Target Retirement 2040 Fund C000155404 Institutional Shares VIRSX 0000752177 S000049268 Vanguard Institutional Target Retirement 2045 Fund C000155405 Institutional Shares VITLX 0000752177 S000049269 Vanguard Institutional Target Retirement 2050 Fund C000155406 Institutional Shares VTRLX 0000752177 S000056747 Vanguard Institutional Target Retirement 2065 Fund C000180146 Institutional Shares VSXFX 0000752177 S000056748 Vanguard Target Retirement 2065 Fund C000180147 Investor Shares VLXVX 497 1 f9834d1.htm TRF 497 092021
 
Vanguard Target Retirement Funds
Supplement Dated September 28, 2021, to the Prospectus and Summary Prospectuses Dated January 31, 2021
Reorganization of Vanguard Institutional Target Retirement Funds into Vanguard Target Retirement Funds
 
The Board of Trustees of Vanguard Chester Funds (the Trust) has approved an agreement and plan of reorganization whereby each Vanguard Institutional Target Retirement Fund listed in the table below, each a series of the Trust, would be reorganized with and into each corresponding Vanguard Target Retirement Fund listed in the table below, each also a series of the Trust. 
Acquired Fund
Acquiring Fund
Vanguard Institutional Target Retirement Income
Fund
Vanguard Target Retirement Income
Fund
Vanguard Institutional Target Retirement 2015 Fund
Vanguard Target Retirement 2015 Fund
Vanguard Institutional Target Retirement 2020 Fund
Vanguard Target Retirement 2020 Fund
Vanguard Institutional Target Retirement 2025 Fund
Vanguard Target Retirement 2025 Fund
Vanguard Institutional Target Retirement 2030 Fund
Vanguard Target Retirement 2030 Fund
Vanguard Institutional Target Retirement 2035 Fund
Vanguard Target Retirement 2035 Fund
Vanguard Institutional Target Retirement 2040 Fund
Vanguard Target Retirement 2040 Fund
Vanguard Institutional Target Retirement 2045 Fund
Vanguard Target Retirement 2045 Fund
Vanguard Institutional Target Retirement 2050 Fund
Vanguard Target Retirement 2050 Fund
Vanguard Institutional Target Retirement 2055 Fund
Vanguard Target Retirement 2055 Fund
Vanguard Institutional Target Retirement 2060 Fund
Vanguard Target Retirement 2060 Fund
Vanguard Institutional Target Retirement 2065 Fund
Vanguard Target Retirement 2065 Fund
The reorganization does not require shareholder approval and is expected to close on or about February 11, 2022. Following each reorganization, it is expected that the expense ratio for each Target Retirement Fund will be reduced to 0.08%.
 © 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.PS 308B 092021

 
Vanguard Institutional Target Retirement Funds
Supplement Dated September 28, 2021, to the Prospectus and Summary Prospectuses Dated January 31, 2021
Reorganization of Vanguard Institutional Target Retirement Funds into Vanguard Target Retirement Funds
 
The Board of Trustees of Vanguard Chester Funds (the Trust) has approved an agreement and plan of reorganization (the Agreement) whereby each Vanguard Institutional Target Retirement Fund listed in the table below, each a series of the Trust, would be reorganized with and into each corresponding Vanguard Target Retirement Fund listed in the table below, each also a series of the Trust. 
Acquired Fund
Acquiring Fund
Vanguard Institutional Target Retirement Income
Fund
Vanguard Target Retirement Income
Fund
Vanguard Institutional Target Retirement 2015 Fund
Vanguard Target Retirement 2015 Fund
Vanguard Institutional Target Retirement 2020 Fund
Vanguard Target Retirement 2020 Fund
Vanguard Institutional Target Retirement 2025 Fund
Vanguard Target Retirement 2025 Fund
Vanguard Institutional Target Retirement 2030 Fund
Vanguard Target Retirement 2030 Fund
Vanguard Institutional Target Retirement 2035 Fund
Vanguard Target Retirement 2035 Fund
Vanguard Institutional Target Retirement 2040 Fund
Vanguard Target Retirement 2040 Fund
Vanguard Institutional Target Retirement 2045 Fund
Vanguard Target Retirement 2045 Fund
Vanguard Institutional Target Retirement 2050 Fund
Vanguard Target Retirement 2050 Fund
Vanguard Institutional Target Retirement 2055 Fund
Vanguard Target Retirement 2055 Fund
Vanguard Institutional Target Retirement 2060 Fund
Vanguard Target Retirement 2060 Fund
Vanguard Institutional Target Retirement 2065 Fund
Vanguard Target Retirement 2065 Fund
Each reorganization will consolidate the assets of the Funds and place shareholders of each Institutional Target Retirement Fund in a larger combined fund with an identical investment objective, investment strategies, and investment risks and a lower expense ratio. Following each reorganization, it is expected that the expense ratio for each Target Retirement Fund will be reduced to 0.08%. The reorganization does not require shareholder approval and is expected to close on or about February 11, 2022. Prior to the closing, shareholders of each Institutional Target Retirement Fund will be issued a
combined Information Statement/Prospectus, which will describe the reorganization, provide a description of each Target Retirement Fund, and include a comparison of the Funds.
Under the Agreement and after the closing, shareholders of each Institutional Target Retirement Fund will receive Investor Shares of the corresponding Target Retirement Fund in exchange for their Institutional Shares of the Institutional Target Retirement Fund, and the Institutional Target Retirement Funds will cease operations.
We anticipate that the reorganization will qualify as a tax-free reorganization under the Internal Revenue Code of 1986, as amended.
 © 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.PSI 1673C 092021

 
Vanguard Chester Funds
 
Supplement Dated September 28, 2021, to the Statement of Additional Information Dated January 31, 2021
 
Reorganization of Vanguard Institutional Target Retirement Funds into Vanguard Target Retirement Funds
The Board of Trustees of Vanguard Chester Funds (the Trust) has approved an agreement and plan of reorganization (the Agreement) whereby each Vanguard Institutional Target Retirement Fund listed in the table below, each a series of the Trust, would be reorganized with and into each corresponding Vanguard Target Retirement Fund listed in the table below, each also a series of the Trust. 
 Acquired Fund
Acquiring Fund
Vanguard Institutional Target Retirement Income Fund
Vanguard Target Retirement Income Fund
Vanguard Institutional Target Retirement 2015 Fund
Vanguard Target Retirement 2015 Fund
Vanguard Institutional Target Retirement 2020 Fund
Vanguard Target Retirement 2020 Fund
Vanguard Institutional Target Retirement 2025 Fund
Vanguard Target Retirement 2025 Fund
Vanguard Institutional Target Retirement 2030 Fund
Vanguard Target Retirement 2030 Fund
Vanguard Institutional Target Retirement 2035 Fund
Vanguard Target Retirement 2035 Fund
Vanguard Institutional Target Retirement 2040 Fund
Vanguard Target Retirement 2040 Fund
Vanguard Institutional Target Retirement 2045 Fund
Vanguard Target Retirement 2045 Fund
Vanguard Institutional Target Retirement 2050 Fund
Vanguard Target Retirement 2050 Fund
Vanguard Institutional Target Retirement 2055 Fund
Vanguard Target Retirement 2055 Fund
Vanguard Institutional Target Retirement 2060 Fund
Vanguard Target Retirement 2060 Fund
Vanguard Institutional Target Retirement 2065 Fund
Vanguard Target Retirement 2065 Fund
Each reorganization will consolidate the assets of the Funds and place shareholders of each Institutional Target Retirement Fund in a larger combined fund with an identical investment objective, investment strategies, and investment risks and a lower expense ratio. Following each reorganization, it is expected that the expense ratio for each Target Retirement Fund will be reduced to 0.08%. The reorganization does not require shareholder approval and is expected to close on or about February 11, 2022. Prior to the closing, shareholders of each Institutional Target Retirement Fund will be issued a combined Information Statement/Prospectus, which will describe the reorganization, provide a description of each Target Retirement Fund, and include a comparison of the Funds.
Under the Agreement and after the closing, shareholders of each Institutional Target Retirement Fund will receive Investor Shares of the corresponding Target Retirement Fund in exchange for their Institutional Shares of the Institutional Target Retirement Fund, and the Institutional Target Retirement Funds will cease operations.
We anticipate that the reorganization will qualify as a tax-free reorganization under the Internal Revenue Code of 1986, as amended.
© 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.
SAI 059A 092021

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