American Century Target Maturities Trust

STATEMENT OF ADDITIONAL INFORMATION SUPPLEMENT

TARGET 2010 FUND * TARGET 2015 FUND * TARGET 2020 FUND * TARGET 2025 FUND

[american century investments logo and text logo]

Supplement dated December 3, 2007 * Statement of Additional Information dated February 1, 2007

THE FOLLOWING REPLACES THE COMPLEX FEE SCHEDULE TABLE ON PAGE 22:

COMPLEX FEE SCHEDULE
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                                                            FEE RATE: INVESTOR
COMPLEX ASSETS                                              AND ADVISOR CLASSES
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First $2.5 billion                                          0.3100%
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Next $7.5 billion                                           0.3000%
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Next $15 billion                                            0.2985%
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Next $25 billion                                            0.2970%
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Next $25 billion                                            0.2870%
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Next $25 billion                                            0.2800%
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Next $25 billion                                            0.2700%
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Next $25 billion                                            0.2650%
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Next $25 billion                                            0.2600%
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Next $25 billion                                            0.2550%
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Thereafter                                                  0.2500%
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THE FOLLOWING REPLACES THE SECOND PARAGRAPH UNDER MULTIPLE CLASS STRUCTURE ON
PAGE 30:

The Investor Class is made available to investors directly from American Century
and/or through some financial intermediaries. Investor Class shares charge a
single unified management fee, without any load or commission payable to
American Century. Additional information regarding eligibility for Investor
Class shares may be found in the funds' prospectus. The Advisor Class is made
available through financial intermediaries, for purchase by individual investors
who receive advisory and personal services from the intermediary. The unified
management fee for the Advisor Class is the same as for the Investor Class, but
the Advisor Class shares are subject to a Master Distribution and Individual
Shareholder Services Plan (the Advisor Class Plan) described below. The Advisor
Class Plan has been adopted by the funds' Board of Trustees in accordance with
Rule 12b-1 adopted by the SEC under the Investment Company Act.

THE FOLLOWING REPLACES THE ADVISOR CLASS PLAN SECTION ON PAGES 31 AND 32:

Advisor Class Plan

As described in the prospectus, the funds' Advisor Class shares are made
available to participants in employer-sponsored retirement or savings plans and
to persons purchasing through broker-dealers, banks, insurance companies and
other financial intermediaries that provide various administrative, shareholder
and distribution services. The funds' distributor enters into contracts with
various banks, broker-dealers, insurance companies and other financial
intermediaries, with respect to the sale of the funds' shares and/or the use of
the funds' shares in various investment products or in connection with various
financial services.

Certain recordkeeping and administrative services that are provided by the
funds' transfer agent for the Investor Class shareholders may be performed by a
plan sponsor (or its agents) or by a financial intermediary for Advisor Class
investors. In addition to such services, the financial intermediaries provide
various distribution services.




To make the funds' shares available through such plans and financial
intermediaries, and to compensate them for these services, the funds' Board of
Trustees has adopted the Advisor Class Plan. Prior to December 3, 2007, the
Advisor Class Plan required the Advisor Class to pay 0.50% annually of the
aggregate average daily net assets of the funds' Advisor Class shares, 0.25% for
certain ongoing shareholder and administrative services (as described below) and
0.25% for distribution services, including past distribution services (as
described below). However, at shareholder meetings on July 27, 2007 and August
24, 2007, the Advisor Class shareholders approved a decrease in the fee required
by the Advisor Class Plan of 0.25%, and a corresponding increase in the Advisor
Class management fee. This change was made because the administrative services
portion of the 12b-1 fee does not need to be made out of the 12b-1 plan, but may
properly be made out of the funds' unified fee, consistent with the other
classes of the funds. This change resulted in no difference in the overall fee
for the Advisor Class, but will lower the amount of the 12b-1 fee charged under
the Advisor Class Plan from and after December 3, 2007. After that date,
pursuant to the Advisor Class Plan, the Advisor Class pays the funds'
distributor 0.25% annually of the aggregate average daily net assets of the
funds' Advisor Class shares, which is paid for certain ongoing individual
shareholder services (as described below) and for distribution services,
including past distribution services (as described below). This payment is fixed
at 0.25% and is not based on expenses incurred by the distributor. During the
fiscal year ended September 30, 2006, the aggregate amount of fees paid under
the Advisor Class Plan was:

Target 2010           $29,764
Target 2015            $6,484
Target 2020           $51,790
Target 2025           $62,556

The distributor then makes these payments to the financial intermediaries
(including underwriters and broker-dealers, who may use some of the proceeds to
compensate sales personnel) who offer the Advisor Class shares in payment for
provision of the services described below. No portion of these payments is used
by the distributor to pay for advertising, printing costs or interest expenses.

Prior to December 3, 2007, 0.25% of the fee charged pursuant to the Advisor
Class Plan was for a variety of shareholder services, including, but not limited
to:

(a)  receiving, aggregating and processing purchase, exchange and
     redemption requests from beneficial owners (including contract owners of
     insurance products that utilize the funds as underlying investment media)
     of shares and placing purchase, exchange and redemption orders with the
     funds' distributor;

(b)  providing shareholders with a service that invests the assets of their
     accounts in shares pursuant to specific or pre-authorized instructions;

(c)  processing dividend payments from a fund on behalf of shareholders and
     assisting shareholders in changing dividend options, account designations
     and addresses;

(d)  providing and maintaining elective services such as check writing and
     wire transfer services;

(e)  acting as shareholder of record and nominee for beneficial owners;

(f)  maintaining account records for shareholders and/or other beneficial
     owners;

(g)  issuing confirmations of transactions;

(h)  providing subaccounting with respect to shares beneficially owned by
     customers of third parties or providing the information to a fund as
     necessary for such subaccounting;

(i)  preparing and forwarding investor communications from the funds (such
     as proxies, shareholder reports, annual and semiannual financial statements
     and dividend, distribution and tax notices) to shareholders and/or other
     beneficial owners; and

(j)  providing other similar administrative and sub-transfer agency
     services.

Shareholder services do not include those activities and expenses that are
primarily intended to result in the sale of additional shares of the funds.
During the fiscal year ended September 30, 2006, the amount of fees paid under
the Advisor Class Plan for shareholder services was:

Target 2010             $14,882
Target 2015              $3,242
Target 2020             $25,895
Target 2025             $31,278

Although these services are still being provided by the financial
intermediaries, after December 3, 2007, they will be reimbursed by the funds'
advisor out of the unified management fee rather than out of a 12b-1 fee, as
described above.


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Distribution services include any activity undertaken or expense incurred that
is primarily intended to result in the sale of Advisor Class shares, which
services may include but are not limited to:

(a)  paying of sales commissions, on-going commissions and other payments
     to brokers, dealers, financial institutions or others who sell Advisor
     Class shares pursuant to selling agreements;

(b)  compensating registered representatives or other employees of the
     distributor who engage in or support distribution of the funds' Advisor
     Class shares;

(c)  compensating and paying expenses (including overhead and telephone
     expenses) of the distributor;

(d)  printing prospectuses, statements of additional information and
     reports for other-than-existing shareholders;

(e)  preparing, printing and distributing sales literature and advertising
     materials provided to the funds' shareholders and prospective shareholders;


(f)  receiving and answering correspondence from prospective shareholders,
     including distributing prospectuses, statements of additional information,
     and shareholder reports;

(g)  providing facilities to answer questions from prospective shareholders
     about fund shares;

(h)  complying with federal and state securities laws pertaining to the
     sale of fund shares;

(i)  assisting shareholders in completing application forms and selecting
     dividend and other account options;

(j)  providing other reasonable assistance in connection with the
     distribution of fund shares;

(k)  organizing and conducting sales seminars and payments in the form of
     transactional and compensation or promotional incentives;

(l)  profit on the foregoing;

(m)  paying service fees for providing personal, continuing services to
     investors, as contemplated by the Rules of Fair Practice of the FINRA; and

(n)  such other distribution and services activities as the advisor
     determines may be paid for by the funds pursuant to the terms of the
     agreement between the trust and the funds' distributor and in accordance
     with Rule 12b-1 of the Investment Company Act.

During the fiscal year ended September 30, 2006, the amount of fees paid under
the Advisor Class Plan for distribution services was:

Target 2010               $14,882
Target 2015                $3,242
Target 2020               $25,895
Target 2025               $31,278

Beginning on December 3, 2007, a portion of the 12b-1 fee will be paid to the
distributor for certain individual shareholder services. These payments may be
made for a variety of individual shareholder services, including, but not
limited to:

(a)  providing individualized and customized investment advisory services,
     including the consideration of shareholder profiles and specific goals;

(b)  creating investment models and asset allocation models for use by
     shareholders in selecting appropriate funds;

(c)  conducting proprietary research about investment choices and the
     market in general;

(d)  periodic rebalancing of shareholder accounts to ensure compliance with
     the selected asset allocation;

(e)  consolidating shareholder accounts in one place; and

(f)  other individual services.

Individual shareholder services do not include those activities and expenses
that are primarily intended to result in the sale of additional shares of the
funds.


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American Century Investment Services, Inc., Distributor

©2007 American Century Proprietary Holdings, Inc. All rights reserved.

The American Century Investments logo, American Century and American Century
Investments are service marks of American Century Proprietary Holdings, Inc.

SH-SPL-57870 0712