....

<PAGE>


[Logo - American Funds/(R)/]            The right choice for the long term/(R)/





U.S. Government
Securities Fund/SM/








CLASS    TICKER   F-1....  UGSFX    529-C..  CGTCX
A......  AMUSX    F-2....  GVTFX    529-E..  CGTEX
B......  UGSBX    529-A..  CGTAX    529-F-1  CGTFX
C......  UGSCX    529-B..  CGTBX





SUMMARY
PROSPECTUS





November 1, 2009
(as amended January 4, 2010)





BEFORE YOU INVEST, YOU MAY WANT TO REVIEW THE FUND'S PROSPECTUS AND STATEMENT
OF ADDITIONAL INFORMATION, WHICH CONTAIN MORE INFORMATION ABOUT THE FUND AND
ITS RISKS. YOU CAN FIND THE FUND'S PROSPECTUS, STATEMENT OF ADDITIONAL
INFORMATION AND OTHER INFORMATION ABOUT THE FUND ONLINE AT
WWW.AMERICANFUNDS.COM/PROSPECTUS. YOU CAN ALSO GET THIS INFORMATION AT NO COST
BY CALLING 800/421-0180 OR BY SENDING AN E-MAIL REQUEST TO
PROSPECTUS@AMERICANFUNDS.COM. THE CURRENT PROSPECTUS AND STATEMENT OF
ADDITIONAL INFORMATION, DATED NOVEMBER 1, 2009, ARE INCORPORATED BY REFERENCE
INTO THIS SUMMARY PROSPECTUS.



<PAGE>

Investment objective

The fund's investment objective is to provide a high level of current income
consistent with prudent investment risk and preservation of capital.

Fees and expenses of the fund

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $100,000 in American
Funds. More information about these and other discounts is available from your
financial professional and in the "Sales charge reductions and waivers" section
on page 26 of the prospectus and on page 51 of the fund's statement of
additional information.

SHAREHOLDER FEES
 (fees paid directly from your investment)
----------------------------------------------------SHARE CLASSES--------------
                                                                      F-1, F-2
                                         A AND  B AND  C AND            AND
                                         529-A  529-B  529-C  529-E   529-F-1
-------------------------------------------------------------------------------
 Maximum sales charge (load) imposed on  3.75%  none   none   none      none
 purchases (as a percentage of offering
 price)
-------------------------------------------------------------------------------
 Maximum deferred sales charge (load)    none   5.00%  1.00%  none      none
 (as a percentage of the amount
 redeemed)
-------------------------------------------------------------------------------
 Maximum sales charge (load) imposed on  none   none   none   none      none
 reinvested dividends
-------------------------------------------------------------------------------
 Redemption or exchange fees             none   none   none   none      none
-------------------------------------------------------------------------------
 Maximum annual account fee               $10    $10    $10    $10      $10
 (529 share classes only)
-------------------------------------------------------------------------------

 ANNUAL FUND OPERATING EXPENSES
 (expenses that you pay each year as a percentage of the value of your investment)
--------------------------------------------------SHARE CLASSES----------------
                                       A       B       C      F-1       F-2
-------------------------------------------------------------------------------
 Management fees                     0.25%   0.25%   0.25%   0.25%     0.25%
-------------------------------------------------------------------------------
 Distribution and/or service         0.24    1.00    1.00    0.25      none
 (12b-1) fees
-------------------------------------------------------------------------------
 Other expenses                      0.15    0.14    0.18    0.15      0.16
-------------------------------------------------------------------------------
 Total annual fund operating         0.64    1.39    1.43    0.65      0.41
 expenses

                                     529-A   529-B   529-C   529-E    529-F-1
-------------------------------------------------------------------------------
 Management fees                     0.25%   0.25%   0.25%   0.25%     0.25%
-------------------------------------------------------------------------------
 Distribution and/or service         0.20    1.00    1.00    0.49      0.00
 (12b-1) fees
-------------------------------------------------------------------------------
 Other expenses                      0.25    0.26    0.25    0.25      0.25
-------------------------------------------------------------------------------
 Total annual fund operating         0.70    1.51    1.50    0.99      0.50
 expenses
-------------------------------------------------------------------------------




                                       1

U.S. Government Securities Fund / Summary prospectus


<PAGE>

EXAMPLE

This example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem all of your shares at the end of those periods. The
example also assumes that your investment has a 5% return each year, that all
dividends and capital gain distributions are reinvested, that you pay the
maximum initial or contingent deferred sales charge, and that the fund's
operating expenses remain the same. Although your actual costs may be higher or
lower, based on these assumptions, your costs would be:


 SHARE CLASSES                   1 YEAR  3 YEARS  5 YEARS   10 YEARS
---------------------------------------------------------------------
 A                                $438    $572    $  718     $1,143
---------------------------------------------------------------------
 B                                 642     840       961      1,463
---------------------------------------------------------------------
 C                                 246     452       782      1,713
---------------------------------------------------------------------
 F-1                                66     208       362        810
---------------------------------------------------------------------
 F-2                                42     132       230        518
---------------------------------------------------------------------
 529-A                             464     630       809      1,318
---------------------------------------------------------------------
 529-B                             673     916     1,081      1,684
---------------------------------------------------------------------
 529-C                             272     513       876      1,890
---------------------------------------------------------------------
 529-E                             121     354       605      1,316
---------------------------------------------------------------------
 529-F-1                            71     200       339        735


For the share classes listed below, you would pay the following if you did not
redeem your shares:

 SHARE CLASSES                   1 YEAR  3 YEARS  5 YEARS   10 YEARS
---------------------------------------------------------------------
 B                                $142    $440     $761      $1,463
---------------------------------------------------------------------
 C                                 146     452      782       1,713
---------------------------------------------------------------------
 529-B                             173     516      881       1,684
---------------------------------------------------------------------
 529-C                             172     513      876       1,890
---------------------------------------------------------------------



PORTFOLIO TURNOVER

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's performance.
During the most recent fiscal year, the fund's portfolio turnover rate was 166%
of the average value of its portfolio.


                                       2

                           U.S. Government Securities Fund / Summary prospectus
<PAGE>

Principal investment strategies

Normally, at least 80% of the fund's assets will be invested in securities that
are guaranteed or sponsored by the U.S. government, including debt securities
and mortgage-backed securities issued by federal agencies and instrumentalities
that are not backed by the full faith and credit of the U.S. government.

The fund relies on the professional judgment of its investment adviser to make
decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively valued
securities that, in its opinion, represent above-average, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is by analyzing various factors, which may include the credit
strength of the issuer, prices of similar securities issued by comparable
issuers and anticipated changes in interest rates, general market conditions and
other factors pertinent to the particular security being evaluated. Securities
may be sold when the investment adviser believes that they no longer represent
relatively attractive investment opportunities. The investment adviser uses a
system of multiple portfolio counselors in managing the fund's assets. Under
this approach, the portfolio of the fund is divided into segments managed by
individual counselors who decide how their respective segments will be invested.



Principal risks

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE
GREATER IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

Your investment in the fund is subject to risks, including the possibility that
the fund's income and the value of its portfolio holdings may fluctuate in
response to economic, political or social events in the United States or abroad.

The prices of, and the income generated by, the securities held by the fund may
decline in response to certain events taking place around the world, including
those directly involving the issuers whose securities are owned by the fund;
conditions affecting the general economy; overall market changes; local,
regional or global political, social or economic instability; governmental or
governmental agency responses to economic conditions; and currency, interest
rate and commodity price fluctuations.

While the fund invests primarily in securities that are guaranteed or sponsored
by the U.S. government, these securities are subject to interest rate and
prepayment risks. Interest rate risk is the risk that the market value of the
fixed-income securities owned by the fund will fluctuate as interest rates go up
or down.

For example, as with other debt securities, the value of U.S. government
securities generally will decline when interest rates rise and increase when
interest rates fall. Longer


                                       3

U.S. Government Securities Fund / Summary prospectus


<PAGE>

maturity securities generally have higher rates of interest but may be subject
to greater price fluctuations than shorter maturity securities.

In addition, falling interest rates may cause an issuer to redeem or "call" a
security before its stated maturity, which may result in the fund having to
reinvest the proceeds in lower yielding securities. This is known as prepayment
risk. Many types of debt securities, including mortgage-related securities, are
subject to prepayment risk. For example, when interest rates fall, homeowners
are more likely to refinance their home mortgages and "prepay" their principal
earlier than expected. The fund must then reinvest the prepaid principal in new
securities when interest rates on new mortgage investments are falling, thus
reducing the fund's income.

A security backed by the U.S. Treasury or the full faith and credit of the U.S.
government is guaranteed only as to the timely payment of interest and principal
when held to maturity. Accordingly, the current market values for these
securities will fluctuate with changes in interest rates.

It is important to note that neither your investment in the fund nor the fund's
yield is guaranteed by the U.S. government.

Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.



Investment results

The bar chart below shows how the fund's investment results have varied from
year to year, and the table on page 5 shows how the fund's average annual total
returns for various periods compare with different broad measures of market
performance. This information provides some indication of the risks of investing
in the fund. Past results (before and after taxes) are not predictive of future
results. Updated information on the fund's results can be obtained by visiting
americanfunds.com.


Calendar year total returns for Class A shares
(Results do not include a sales charge; if a sales charge were included,
 results would be lower.)

[begin bar chart]

1999         -1.59%
2000         11.93
2001          6.41
2002          9.02
2003          1.91
2004          2.88
2005          2.27
2006          3.15
2007          6.67
2008          7.73
[end bar chart]



                                       4

                           U.S. Government Securities Fund / Summary prospectus
<PAGE>

Highest/Lowest quarterly results during this time period were:


HIGHEST            5.34%  (quarter ended December 31, 2008)
LOWEST            -2.00%  (quarter ended June 30, 2004)


The fund's total return for the nine months ended September 30, 2009, was 2.59%.





 AVERAGE ANNUAL TOTAL RETURNS
 FOR THE PERIODS ENDED DECEMBER 31, 2008 (WITH MAXIMUM SALES CHARGE):
 SHARE CLASS                INCEPTION DATE      1 YEAR  5 YEARS  10 YEARS   LIFETIME
-------------------------------------------------------------------------------------
 A - Before taxes              10/17/85         3.69%    3.73%    4.57%      6.57%
   - After taxes on distributions               2.36     2.36     2.91        N/A
   - After taxes on distributions and sale of   2.35     2.36     2.87        N/A
     fund shares


 SHARE CLASS (before taxes)   INCEPTION DATE  1 YEAR  5 YEARS   LIFETIME
-------------------------------------------------------------------------
 B                               3/15/00      1.99%    3.43%     5.01%
-------------------------------------------------------------------------
 C                               3/15/01      5.94     3.73      3.96
-------------------------------------------------------------------------
 F-1                             3/15/01      7.78     4.55      4.77
-------------------------------------------------------------------------
 529-A                           2/20/02      3.68     3.67      4.05
-------------------------------------------------------------------------
 529-B                           2/20/02      1.85     3.28      3.75
-------------------------------------------------------------------------
 529-C                           2/19/02      5.86     3.64      3.76
-------------------------------------------------------------------------
 529-E                           3/7/02       7.41     4.17      4.48
-------------------------------------------------------------------------
 529-F-1                        10/11/02      7.93     4.61      4.20


 INDEXES/1/ (before taxes)             1 YEAR  5 YEARS  10 YEARS   LIFETIME/2/
-------------------------------------------------------------------------------
 Citigroup Treasury/Govt               10.54%   5.87%    6.12%        7.90%
 Sponsored/Mortgage Index
 Lipper General U.S. Government Funds   7.27    4.27     4.74         6.56
 Average
 Consumer Price Index                   0.09    2.67     2.52         2.88
 Class A annualized 30-day yield at August 31, 2009: 2.71%
 (For current yield information, please call American FundsLine/(R) /at 800/325-3590.)

1  The Citigroup Treasury/Government Sponsored/Mortgage Index reflects the market
   sectors in which the fund primarily invests. The Lipper General U.S. Government
   Funds Average includes the fund and other mutual funds that disclose investment
   objectives that are reasonably comparable to those of the fund. The Consumer
   Price Index provides a comparison of the fund's results to inflation. See the
   fund's prospectus for more information on the indexes listed above.
2  Lifetime results for the index(es) shown are measured from the date Class A
   shares were first sold.



After-tax returns are shown only for Class A shares; after-tax returns for other
share classes will vary. After-tax returns are calculated using the highest
individual federal income tax rates in effect during each year of the periods
shown and do not reflect the impact of state and local taxes. Your actual
after-tax returns depend on your individual tax situation and likely will differ
from the results shown above. In addition, after-tax returns are not relevant if
you hold your fund shares through a tax-deferred arrangement, such as a 401(k)
plan, individual retirement account (IRA) or 529 college savings plan.


                                       5

U.S. Government Securities Fund / Summary prospectus


<PAGE>

Management

INVESTMENT ADVISER

Capital Research and Management Company, the investment adviser to the fund,
uses a system of multiple portfolio counselors in managing mutual fund assets.

PORTFOLIO COUNSELORS

The primary individual portfolio counselors for the fund are:

 PORTFOLIO COUNSELOR/    PORTFOLIO COUNSELOR   PRIMARY TITLE
 FUND TITLE (if              EXPERIENCE        WITH INVESTMENT ADVISER
 applicable)                IN THIS FUND       (or one of its divisions)
-------------------------------------------------------------------------------
 JOHN H. SMET                 23 years         Senior Vice President - Fixed
 President and Trustee                         Income,
                                               Capital Research and Management
                                               Company
-------------------------------------------------------------------------------
 THOMAS H. HOGH               13 years         Senior Vice President - Fixed
 Vice President                                Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 FERGUS N. MACDONALD      Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 WESLEY K.-S. PHOA        Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------




Purchase and sale of fund shares

 PURCHASE MINIMUMS (for all share classes)
------------------------------------------------------------------------------
 TO ESTABLISH AN ACCOUNT (including retirement plan and 529 accounts)   $250
 For a payroll deduction retirement plan account, payroll deduction       25
 savings plan account or employer-sponsored 529 account
 TO ADD TO AN ACCOUNT                                                     50
 For a payroll deduction retirement plan account, payroll deduction       25
 savings plan account or employer-sponsored 529 account
------------------------------------------------------------------------------



You may sell (redeem) shares through your dealer or financial adviser or by
writing to American Funds Service Company at P.O. Box 6007, Indianapolis, IN
46206-6007; telephoning (800/421-0180); faxing (317/735-6636) American Funds
Service Company; or accessing our website (americanfunds.com).


                                       6

                           U.S. Government Securities Fund / Summary prospectus
<PAGE>

Tax information

Dividends and capital gain distributions you receive from the fund are subject
to federal income taxes and may also be subject to state and local taxes.




Payments to broker-dealers and other financial intermediaries

If you purchase shares of the fund through a broker-dealer or other financial
intermediary (such as a bank), the fund and the fund's distributor or its
affiliates may pay the intermediary for the sale of fund shares and related
services. These payments may create a conflict of interest by influencing the
broker-dealer or other intermediary and your individual financial adviser to
recommend the fund over another investment. Ask your individual financial
adviser or visit your financial intermediary's website for more information.





                                                                                       Investment Company File No. 811-04318
                                                                                    MFGEIP-922-0110P Litho in USA CGD/B/8010
-----------------------------------------------------------------------------------------------------------------------------
THE CAPITAL GROUP COMPANIES
American Funds     Capital Research and Management     Capital International     Capital Guardian     Capital Bank and Trust






<PAGE>


[Logo - American Funds/(R)/]            The right choice for the long term/(R)/




U.S. Government
Securities Fund/SM/






CLASS         TICKER        R-3.........  RGVCX
A...........  AMUSX         R-4.........  RGVEX
R-1.........  RGVAX         R-5.........  RGVFX
R-2.........  RGVBX         R-6.........  RGVGX






SUMMARY
RETIREMENT PLAN
PROSPECTUS



November 1, 2009
(as amended January 4, 2010)





BEFORE YOU INVEST, YOU MAY WANT TO REVIEW THE FUND'S RETIREMENT PLAN
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION, WHICH CONTAIN MORE
INFORMATION ABOUT THE FUND AND ITS RISKS. YOU CAN FIND THE FUND'S RETIREMENT
PLAN PROSPECTUS, STATEMENT OF ADDITIONAL INFORMATION AND OTHER INFORMATION
ABOUT THE FUND ONLINE AT WWW.AMERICANFUNDS.COM/
RETIREMENTPROSPECTUS. YOU CAN ALSO GET THIS INFORMATION AT NO COST BY CALLING
800/421-0180 OR BY SENDING AN E-MAIL REQUEST TO
RETIREMENTPROSPECTUS@AMERICANFUNDS.COM. THE CURRENT RETIREMENT PLAN PROSPECTUS
AND STATEMENT OF ADDITIONAL INFORMATION, DATED NOVEMBER 1, 2009, ARE
INCORPORATED BY REFERENCE INTO THIS SUMMARY RETIREMENT PLAN PROSPECTUS.



<PAGE>

Investment objective

The fund's investment objective is to provide a high level of current income
consistent with prudent investment risk and preservation of capital.

Fees and expenses of the fund

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. You may qualify for a Class A sales charge discount if you
and your family invest, or agree to invest in the future, at least $100,000 in
American Funds. More information about these and other discounts is available
from your financial professional and in the "Sales charge reductions" section on
page 20 of the retirement plan prospectus and in the "Sales charge reductions
and waivers" section on page 51 of the fund's statement of additional
information.

 SHAREHOLDER FEES
 (fees paid directly from your investment)
------------------------------------------------------------------------------
                                                CLASS A   ALL R SHARE CLASSES
                                                ------------------------------
 Maximum sales charge (load) imposed on          3.75%           none
 purchases (as a percentage of offering price)
------------------------------------------------------------------------------
 Maximum deferred sales charge (load)             none           none
 (as a percentage of the amount redeemed)
------------------------------------------------------------------------------
 Maximum sales charge (load) imposed              none           none
 on reinvested dividends
------------------------------------------------------------------------------
 Redemption or exchange fees                      none           none


 ANNUAL FUND OPERATING EXPENSES
 (expenses that you pay each year as a percentage of the value of your
 investment)
----------------------------------------------SHARE CLASSES--------------------
                              A     R-1    R-2    R-3    R-4    R-5      R-6
                            ---------------------------------------------------
 Management fees            0.25%  0.25%  0.25%  0.25%  0.25%  0.25%    0.25%
-------------------------------------------------------------------------------
 Distribution and/or        0.24   1.00   0.75   0.50   0.25   none     none
 service (12b-1) fees
-------------------------------------------------------------------------------
 Other expenses             0.15   0.20   0.49   0.28   0.19   0.13     0.08/*/
-------------------------------------------------------------------------------
 Total annual fund          0.64   1.45   1.49   1.03   0.69   0.38     0.33
 operating expenses
-------------------------------------------------------------------------------




                                       1

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

EXAMPLE

This example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem all of your shares at the end of those periods. The
example also assumes that your investment has a 5% return each year, that all
dividends and capital gain distributions are reinvested, that you pay the
maximum initial or contingent deferred sales charge, and that the fund's
operating expenses remain the same. Although your actual costs may be higher or
lower, based on these assumptions, your costs would be:


 SHARE CLASSES                  1 YEAR  3 YEARS  5 YEARS   10 YEARS
--------------------------------------------------------------------
 A                               $438    $572     $718      $1,143
--------------------------------------------------------------------
 R-1                              148     459      792       1,735
--------------------------------------------------------------------
 R-2                              152     471      813       1,779
--------------------------------------------------------------------
 R-3                              105     328      569       1,259
--------------------------------------------------------------------
 R-4                               70     221      384         859
--------------------------------------------------------------------
 R-5                               39     122      213         480
--------------------------------------------------------------------
 R-6/*/                            34     106      185         418
--------------------------------------------------------------------

*  Based on estimated amounts for the current fiscal year.



PORTFOLIO TURNOVER

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's performance.
During the most recent fiscal year, the fund's portfolio turnover rate was 166%
of the average value of its portfolio.


                                       2

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Principal investment strategies

Normally, at least 80% of the fund's assets will be invested in securities that
are guaranteed or sponsored by the U.S. government, including debt securities
and mortgage-backed securities issued by federal agencies and instrumentalities
that are not backed by the full faith and credit of the U.S. government.

The fund relies on the professional judgment of its investment adviser to make
decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively valued
securities that, in its opinion, represent above-average, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is by analyzing various factors, which may include the credit
strength of the issuer, prices of similar securities issued by comparable
issuers and anticipated changes in interest rates, general market conditions and
other factors pertinent to the particular security being evaluated. Securities
may be sold when the investment adviser believes that they no longer represent
relatively attractive investment opportunities. The investment adviser uses a
system of multiple portfolio counselors in managing the fund's assets. Under
this approach, the portfolio of the fund is divided into segments managed by
individual counselors who decide how their respective segments will be invested.



Principal risks

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE
GREATER IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

Your investment in the fund is subject to risks, including the possibility that
the fund's income and the value of its portfolio holdings may fluctuate in
response to economic, political or social events in the United States or abroad.

The prices of, and the income generated by, the securities held by the fund may
decline in response to certain events taking place around the world, including
those directly involving the issuers whose securities are owned by the fund;
conditions affecting the general economy; overall market changes; local,
regional or global political, social or economic instability; governmental or
governmental agency responses to economic conditions; and currency, interest
rate and commodity price fluctuations.

While the fund invests primarily in securities that are guaranteed or sponsored
by the U.S. government, these securities are subject to interest rate and
prepayment risks. Interest rate risk is the risk that the market value of the
fixed-income securities owned by the fund will fluctuate as interest rates go up
or down.

For example, as with other debt securities, the value of U.S. government
securities generally will decline when interest rates rise and increase when
interest rates fall. Longer


                                       3

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

maturity securities generally have higher rates of interest but may be subject
to greater price fluctuations than shorter maturity securities.

In addition, falling interest rates may cause an issuer to redeem or "call" a
security before its stated maturity, which may result in the fund having to
reinvest the proceeds in lower yielding securities. This is known as prepayment
risk. Many types of debt securities, including mortgage-related securities, are
subject to prepayment risk. For example, when interest rates fall, homeowners
are more likely to refinance their home mortgages and "prepay" their principal
earlier than expected. The fund must then reinvest the prepaid principal in new
securities when interest rates on new mortgage investments are falling, thus
reducing the fund's income.

A security backed by the U.S. Treasury or the full faith and credit of the U.S.
government is guaranteed only as to the timely payment of interest and principal
when held to maturity. Accordingly, the current market values for these
securities will fluctuate with changes in interest rates.

It is important to note that neither your investment in the fund nor the fund's
yield is guaranteed by the U.S. government.

Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.



Investment results

The bar chart below shows how the fund's investment results have varied from
year to year, and the table on page 5 shows how the fund's average annual total
returns for various periods compare with different broad measures of market
performance. This information provides some indication of the risks of investing
in the fund. Past results are not predictive of future results. Updated
information on the fund's results can be obtained by visiting americanfunds.com.


                                       4

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Calendar year total returns for Class A shares
(Results do not include a sales charge; if a sales charge were included,
 results would be lower.)

[begin bar chart]

1999         -1.59%
2000         11.93
2001          6.41
2002          9.02
2003          1.91
2004          2.88
2005          2.27
2006          3.15
2007          6.67
2008          7.73
[end bar chart]


Highest/Lowest quarterly results during this time period were:

HIGHEST            5.34%  (quarter ended December 31, 2008)
LOWEST            -2.00%  (quarter ended June 30, 2004)


The fund's total return for the nine months ended September 30, 2009, was 2.59%.





 AVERAGE ANNUAL TOTAL RETURNS
 FOR THE PERIODS ENDED DECEMBER 31, 2008 (WITH MAXIMUM SALES CHARGE):
 SHARE CLASS            INCEPTION DATE  1 YEAR  5 YEARS  10 YEARS   LIFETIME
-----------------------------------------------------------------------------
 A                         10/17/85     3.69%    3.73%    4.57%      6.57%


 SHARE CLASS            INCEPTION DATE  1 YEAR  5 YEARS   LIFETIME
-------------------------------------------------------------------
 R-1                       6/13/02      6.89%    3.71%     3.82%
-------------------------------------------------------------------
 R-2                       5/31/02      6.95     3.77      3.92
-------------------------------------------------------------------
 R-3                        6/6/02      7.40     4.17      4.33
-------------------------------------------------------------------
 R-4                       5/28/02      7.76     4.54      4.73
-------------------------------------------------------------------
 R-5                       5/15/02      8.09     4.85      5.14


 INDEXES/1/                            1 YEAR  5 YEARS  10 YEARS   LIFETIME/2/
-------------------------------------------------------------------------------
 Citigroup Treasury/Govt               10.54%   5.87%    6.12%        7.90%
 Sponsored/Mortgage Index
 Lipper General U.S. Government Funds   7.27    4.27     4.74         6.56
 Average
 Consumer Price Index                   0.09    2.67     2.52         2.88
 Class A 30-day annualized yield at August 31, 2009: 2.71%
 (For current yield information, please call American FundsLine/(R)/ at 800/325-3590.)

1  The Citigroup Treasury/Government Sponsored/Mortgage Index reflects the market
   sectors in which the fund primarily invests. The Lipper General U.S. Government
   Funds Average includes the fund and other mutual funds that disclose investment
   objectives that are reasonably comparable to those of the fund. The Consumer
   Price Index provides a comparison of the fund's results to inflation. See the
   fund's prospectus for more information on the indexes listed above.
2  Lifetime results for the index(es) shown are measured from the date Class A
   shares were first sold.


                                       5

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

Management

INVESTMENT ADVISER

Capital Research and Management Company, the investment adviser to the fund,
uses a system of multiple portfolio counselors in managing mutual fund assets.

PORTFOLIO COUNSELORS

The primary individual portfolio counselors for the fund are:

 PORTFOLIO COUNSELOR/    PORTFOLIO COUNSELOR   PRIMARY TITLE
 FUND TITLE (if              EXPERIENCE        WITH INVESTMENT ADVISER
 applicable)                IN THIS FUND       (or one of its divisions)
-------------------------------------------------------------------------------
 JOHN H. SMET                 23 years         Senior Vice President - Fixed
 President and Trustee                         Income,
                                               Capital Research and Management
                                               Company
-------------------------------------------------------------------------------
 THOMAS H. HOGH               13 years         Senior Vice President - Fixed
 Vice President                                Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 FERGUS N. MACDONALD      Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 WESLEY K.-S. PHOA        Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------




Purchase and sale of fund shares

Eligible retirement plans generally may open an account and purchase Class A or
R shares by contacting any investment dealer (who may impose transaction charges
in addition to those described in this prospectus) authorized to sell these
classes of the fund's shares.

Please contact your plan administrator or recordkeeper in order to sell (redeem)
shares from your retirement plan.


                                       6

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Tax information

Dividends and capital gains distributed by the fund to tax-deferred retirement
plan accounts are not currently taxable.



Payments to broker-dealers and other financial intermediaries

If you purchase shares of the fund through a broker-dealer or other financial
intermediary (such as a bank), the fund and the fund's distributor or its
affiliates may pay the intermediary for the sale of fund shares and related
services. These payments may create a conflict of interest by influencing the
broker-dealer or other intermediary and your individual financial adviser to
recommend the fund over another investment. Ask your individual financial
adviser or visit your financial intermediary's website for more information.




                                                                                       Investment Company File No. 811-04318
                                                                                    RPGEIP-922-0110P Litho in USA CGD/B/8034
-----------------------------------------------------------------------------------------------------------------------------
THE CAPITAL GROUP COMPANIES
American Funds     Capital Research and Management     Capital International     Capital Guardian     Capital Bank and Trust






THE FUND PROVIDES SPANISH TRANSLATION IN CONNECTION WITH THE
PUBLIC OFFERING AND SALE OF ITS SHARES. THE FOLLOWING IS A FAIR
AND ACCURATE ENGLISH TRANSLATION OF A SPANISH LANGUAGE PROSPECTUS
FOR THE FUND.

/s/ KIMBERLY S. VERDICK
    KIMBERLY S. VERDICK
    SECRETARY




<PAGE>


[Logo - American Funds/(R)/]            The right choice for the long term/(R)/




U.S. Government
Securities Fund/SM/






CLASS         TICKER        R-3.........  RGVCX
A...........  AMUSX         R-4.........  RGVEX
R-1.........  RGVAX         R-5.........  RGVFX
R-2.........  RGVBX         R-6.........  RGVGX






SUMMARY
RETIREMENT PLAN
PROSPECTUS



November 1, 2009
(as amended January 4, 2010)





BEFORE YOU INVEST, YOU MAY WANT TO REVIEW THE FUND'S RETIREMENT PLAN
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION, WHICH CONTAIN MORE
INFORMATION ABOUT THE FUND AND ITS RISKS. YOU CAN FIND THE FUND'S RETIREMENT
PLAN PROSPECTUS, STATEMENT OF ADDITIONAL INFORMATION AND OTHER INFORMATION
ABOUT THE FUND ONLINE AT WWW.AMERICANFUNDS.COM/
RETIREMENTPROSPECTUS. YOU CAN ALSO GET THIS INFORMATION AT NO COST BY CALLING
800/421-0180 OR BY SENDING AN E-MAIL REQUEST TO
RETIREMENTPROSPECTUS@AMERICANFUNDS.COM. THE CURRENT RETIREMENT PLAN PROSPECTUS
AND STATEMENT OF ADDITIONAL INFORMATION, DATED NOVEMBER 1, 2009, ARE
INCORPORATED BY REFERENCE INTO THIS SUMMARY RETIREMENT PLAN PROSPECTUS.



<PAGE>

Investment objective

The fund's investment objective is to provide a high level of current income
consistent with prudent investment risk and preservation of capital.

Fees and expenses of the fund

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. You may qualify for a Class A sales charge discount if you
and your family invest, or agree to invest in the future, at least $100,000 in
American Funds. More information about these and other discounts is available
from your financial professional and in the "Sales charge reductions" section on
page 20 of the retirement plan prospectus and in the "Sales charge reductions
and waivers" section on page 51 of the fund's statement of additional
information.

 SHAREHOLDER FEES
 (fees paid directly from your investment)
------------------------------------------------------------------------------
                                                CLASS A   ALL R SHARE CLASSES
                                                ------------------------------
 Maximum sales charge (load) imposed on          3.75%           none
 purchases (as a percentage of offering price)
------------------------------------------------------------------------------
 Maximum deferred sales charge (load)             none           none
 (as a percentage of the amount redeemed)
------------------------------------------------------------------------------
 Maximum sales charge (load) imposed              none           none
 on reinvested dividends
------------------------------------------------------------------------------
 Redemption or exchange fees                      none           none


 ANNUAL FUND OPERATING EXPENSES
 (expenses that you pay each year as a percentage of the value of your
 investment)
----------------------------------------------SHARE CLASSES--------------------
                              A     R-1    R-2    R-3    R-4    R-5      R-6
                            ---------------------------------------------------
 Management fees            0.25%  0.25%  0.25%  0.25%  0.25%  0.25%    0.25%
-------------------------------------------------------------------------------
 Distribution and/or        0.24   1.00   0.75   0.50   0.25   none     none
 service (12b-1) fees
-------------------------------------------------------------------------------
 Other expenses             0.15   0.20   0.49   0.28   0.19   0.13     0.08/*/
-------------------------------------------------------------------------------
 Total annual fund          0.64   1.45   1.49   1.03   0.69   0.38     0.33
 operating expenses
-------------------------------------------------------------------------------




                                       1

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

EXAMPLE

This example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem all of your shares at the end of those periods. The
example also assumes that your investment has a 5% return each year, that all
dividends and capital gain distributions are reinvested, that you pay the
maximum initial or contingent deferred sales charge, and that the fund's
operating expenses remain the same. Although your actual costs may be higher or
lower, based on these assumptions, your costs would be:


 SHARE CLASSES                  1 YEAR  3 YEARS  5 YEARS   10 YEARS
--------------------------------------------------------------------
 A                               $438    $572     $718      $1,143
--------------------------------------------------------------------
 R-1                              148     459      792       1,735
--------------------------------------------------------------------
 R-2                              152     471      813       1,779
--------------------------------------------------------------------
 R-3                              105     328      569       1,259
--------------------------------------------------------------------
 R-4                               70     221      384         859
--------------------------------------------------------------------
 R-5                               39     122      213         480
--------------------------------------------------------------------
 R-6/*/                            34     106      185         418
--------------------------------------------------------------------

*  Based on estimated amounts for the current fiscal year.



PORTFOLIO TURNOVER

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's performance.
During the most recent fiscal year, the fund's portfolio turnover rate was 166%
of the average value of its portfolio.


                                       2

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Principal investment strategies

Normally, at least 80% of the fund's assets will be invested in securities that
are guaranteed or sponsored by the U.S. government, including debt securities
and mortgage-backed securities issued by federal agencies and instrumentalities
that are not backed by the full faith and credit of the U.S. government.

The fund relies on the professional judgment of its investment adviser to make
decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively valued
securities that, in its opinion, represent above-average, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is by analyzing various factors, which may include the credit
strength of the issuer, prices of similar securities issued by comparable
issuers and anticipated changes in interest rates, general market conditions and
other factors pertinent to the particular security being evaluated. Securities
may be sold when the investment adviser believes that they no longer represent
relatively attractive investment opportunities. The investment adviser uses a
system of multiple portfolio counselors in managing the fund's assets. Under
this approach, the portfolio of the fund is divided into segments managed by
individual counselors who decide how their respective segments will be invested.



Principal risks

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE
GREATER IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

Your investment in the fund is subject to risks, including the possibility that
the fund's income and the value of its portfolio holdings may fluctuate in
response to economic, political or social events in the United States or abroad.

The prices of, and the income generated by, the securities held by the fund may
decline in response to certain events taking place around the world, including
those directly involving the issuers whose securities are owned by the fund;
conditions affecting the general economy; overall market changes; local,
regional or global political, social or economic instability; governmental or
governmental agency responses to economic conditions; and currency, interest
rate and commodity price fluctuations.

While the fund invests primarily in securities that are guaranteed or sponsored
by the U.S. government, these securities are subject to interest rate and
prepayment risks. Interest rate risk is the risk that the market value of the
fixed-income securities owned by the fund will fluctuate as interest rates go up
or down.

For example, as with other debt securities, the value of U.S. government
securities generally will decline when interest rates rise and increase when
interest rates fall. Longer


                                       3

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

maturity securities generally have higher rates of interest but may be subject
to greater price fluctuations than shorter maturity securities.

In addition, falling interest rates may cause an issuer to redeem or "call" a
security before its stated maturity, which may result in the fund having to
reinvest the proceeds in lower yielding securities. This is known as prepayment
risk. Many types of debt securities, including mortgage-related securities, are
subject to prepayment risk. For example, when interest rates fall, homeowners
are more likely to refinance their home mortgages and "prepay" their principal
earlier than expected. The fund must then reinvest the prepaid principal in new
securities when interest rates on new mortgage investments are falling, thus
reducing the fund's income.

A security backed by the U.S. Treasury or the full faith and credit of the U.S.
government is guaranteed only as to the timely payment of interest and principal
when held to maturity. Accordingly, the current market values for these
securities will fluctuate with changes in interest rates.

It is important to note that neither your investment in the fund nor the fund's
yield is guaranteed by the U.S. government.

Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.



Investment results

The bar chart below shows how the fund's investment results have varied from
year to year, and the table on page 5 shows how the fund's average annual total
returns for various periods compare with different broad measures of market
performance. This information provides some indication of the risks of investing
in the fund. Past results are not predictive of future results. Updated
information on the fund's results can be obtained by visiting americanfunds.com.


                                       4

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Calendar year total returns for Class A shares
(Results do not include a sales charge; if a sales charge were included,
 results would be lower.)

[begin bar chart]

1999         -1.59%
2000         11.93
2001          6.41
2002          9.02
2003          1.91
2004          2.88
2005          2.27
2006          3.15
2007          6.67
2008          7.73
[end bar chart]


Highest/Lowest quarterly results during this time period were:

HIGHEST            5.34%  (quarter ended December 31, 2008)
LOWEST            -2.00%  (quarter ended June 30, 2004)


The fund's total return for the nine months ended September 30, 2009, was 2.59%.





 AVERAGE ANNUAL TOTAL RETURNS
 FOR THE PERIODS ENDED DECEMBER 31, 2008 (WITH MAXIMUM SALES CHARGE):
 SHARE CLASS            INCEPTION DATE  1 YEAR  5 YEARS  10 YEARS   LIFETIME
-----------------------------------------------------------------------------
 A                         10/17/85     3.69%    3.73%    4.57%      6.57%


 SHARE CLASS            INCEPTION DATE  1 YEAR  5 YEARS   LIFETIME
-------------------------------------------------------------------
 R-1                       6/13/02      6.89%    3.71%     3.82%
-------------------------------------------------------------------
 R-2                       5/31/02      6.95     3.77      3.92
-------------------------------------------------------------------
 R-3                        6/6/02      7.40     4.17      4.33
-------------------------------------------------------------------
 R-4                       5/28/02      7.76     4.54      4.73
-------------------------------------------------------------------
 R-5                       5/15/02      8.09     4.85      5.14


 INDEXES/1/                            1 YEAR  5 YEARS  10 YEARS   LIFETIME/2/
-------------------------------------------------------------------------------
 Citigroup Treasury/Govt               10.54%   5.87%    6.12%        7.90%
 Sponsored/Mortgage Index
 Lipper General U.S. Government Funds   7.27    4.27     4.74         6.56
 Average
 Consumer Price Index                   0.09    2.67     2.52         2.88
 Class A 30-day annualized yield at August 31, 2009: 2.71%
 (For current yield information, please call American FundsLine/(R)/ at 800/325-3590.)

1  The Citigroup Treasury/Government Sponsored/Mortgage Index reflects the market
   sectors in which the fund primarily invests. The Lipper General U.S. Government
   Funds Average includes the fund and other mutual funds that disclose investment
   objectives that are reasonably comparable to those of the fund. The Consumer
   Price Index provides a comparison of the fund's results to inflation. See the
   fund's prospectus for more information on the indexes listed above.
2  Lifetime results for the index(es) shown are measured from the date Class A
   shares were first sold.


                                       5

U.S. Government Securities Fund / Summary retirement plan prospectus


<PAGE>

Management

INVESTMENT ADVISER

Capital Research and Management Company, the investment adviser to the fund,
uses a system of multiple portfolio counselors in managing mutual fund assets.

PORTFOLIO COUNSELORS

The primary individual portfolio counselors for the fund are:

 PORTFOLIO COUNSELOR/    PORTFOLIO COUNSELOR   PRIMARY TITLE
 FUND TITLE (if              EXPERIENCE        WITH INVESTMENT ADVISER
 applicable)                IN THIS FUND       (or one of its divisions)
-------------------------------------------------------------------------------
 JOHN H. SMET                 23 years         Senior Vice President - Fixed
 President and Trustee                         Income,
                                               Capital Research and Management
                                               Company
-------------------------------------------------------------------------------
 THOMAS H. HOGH               13 years         Senior Vice President - Fixed
 Vice President                                Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 FERGUS N. MACDONALD      Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------
 WESLEY K.-S. PHOA        Less than 1 year     Vice President - Fixed Income,
                                               Capital Research Company
-------------------------------------------------------------------------------




Purchase and sale of fund shares

Eligible retirement plans generally may open an account and purchase Class A or
R shares by contacting any investment dealer (who may impose transaction charges
in addition to those described in this prospectus) authorized to sell these
classes of the fund's shares.

Please contact your plan administrator or recordkeeper in order to sell (redeem)
shares from your retirement plan.


                                       6

           U.S. Government Securities Fund / Summary retirement plan prospectus
<PAGE>

Tax information

Dividends and capital gains distributed by the fund to tax-deferred retirement
plan accounts are not currently taxable.



Payments to broker-dealers and other financial intermediaries

If you purchase shares of the fund through a broker-dealer or other financial
intermediary (such as a bank), the fund and the fund's distributor or its
affiliates may pay the intermediary for the sale of fund shares and related
services. These payments may create a conflict of interest by influencing the
broker-dealer or other intermediary and your individual financial adviser to
recommend the fund over another investment. Ask your individual financial
adviser or visit your financial intermediary's website for more information.




                                                                                       Investment Company File No. 811-04318
                                                                                    RPGEIP-922-0110P Litho in USA CGD/B/8034
-----------------------------------------------------------------------------------------------------------------------------
THE CAPITAL GROUP COMPANIES
American Funds     Capital Research and Management     Capital International     Capital Guardian     Capital Bank and Trust

....