# EDGAR Filing Document

**Accession Number:** 0001295293
**File Stem:** 0001193125-26-008868
**Filing Date:** 2026-1
**Character Count:** 5395
**Document Hash:** e45afe0965973d98729b56befc7c25a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-008868.hdr.sgml**: 20260109

**ACCESSION NUMBER**: 0001193125-26-008868

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20260109

**DATE AS OF CHANGE**: 20260109

**EFFECTIVENESS DATE**: 20260109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam Target Date Funds
- **CENTRAL INDEX KEY:** 0001295293

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-117134
- **FILM NUMBER:** 26522898

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Putnam RetirementReady Funds
- **DATE OF NAME CHANGE:** 20040624

## Series and Classes Contracts Data

### Putnam Sustainable Retirement 2060 Fund (Series ID: S000051718)

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|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Class A Shares  | C000162753 |
| Class C Shares  | C000162755 |
| Class R Shares  | C000162757 |
| Class Y Shares  | C000162758 |
| Class R6 Shares | C000174683 |
| Class R5 Shares | C000222458 |
| Class R4 Shares | C000222459 |
| Class R3 Shares | C000222460 |

---

## Series and Classes Contracts Data

### Putnam Sustainable Retirement 2060 Fund (Series ID: S000051718)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000162753 | Class A Shares  |  |
| C000162755 | Class C Shares  |  |
| C000162757 | Class R Shares  |  |
| C000162758 | Class Y Shares  |  |
| C000174683 | Class R6 Shares |  |
| C000222458 | Class R5 Shares |  |
| C000222459 | Class R4 Shares |  |
| C000222460 | Class R3 Shares |  |

?xml version='1.0' encoding='ASCII'? Putnam Sustainable Retirement 2060 Fund

------

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| | |
|:---|:---|
| PSRF-P5 01/26<br>**PUTNAM TARGET DATE FUNDS**<br> **SUPPLEMENT DATED JANUARY 9, 2026**<br> **TO THE PROSPECTUS**<br> **DATED DECEMBER 1, 2025**<br> **OF PUTNAM SUSTAINABLE RETIREMENT 2060 FUND (THE "FUND")** | <br> ![LOGO](g85564g57q58.jpg)  |

---

#### The following replaces the Average Annual Total Returns table in the section entitled "Performance" of the Fund's Prospectus:

#### Average annual total returns after sales charges
(for periods ended 12/31/24)

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **1 year** | **5 years** | **Since<br>Inception** |
|  Class A before taxes | 9.19% | 8.72% | 8.39%<sup>1</sup> |
|  Class A after taxes on distributions | 8.90% | 7.27% | 6.88%<sup>1</sup> |
| Class A after taxes on distributions and sale of fund shares | 5.58% | 6.43% | 6.23%<sup>1</sup> |
|  Class C before taxes | 13.90% | 9.18% | 8.39%<sup>1</sup> |
|  Class R before taxes | 15.34% | 9.61% | 8.76%<sup>1</sup> |
|  Class R3 before taxes<sup>\*</sup> | 15.66% | 9.87% | 8.99%<sup>1</sup> |
|  Class R4 before taxes<sup>\*\*</sup> | 15.92% | 10.15% | 9.26%<sup>1</sup> |
|  Class R5 before taxes<sup>\*\*\*</sup> | 16.09% | 10.30% | 9.42%<sup>1</sup> |
|  Class R6 before taxes<sup>\*\*\*\*</sup> | 16.21% | 10.39% | 9.46%<sup>1</sup> |
|  Class Y before taxes | 16.11% | 10.29% | 9.38%<sup>1</sup> |
| Russell 3000 Index (no deduction for fees, expenses or taxes) | 23.81% | 13.86% | 13.58%<sup>1</sup> |
| Bloomberg U.S. Aggregate Index (no deduction for fees, expenses or taxes) | 1.25% | -0.33% | 1.39%<sup>1</sup> |
| S&P Target Date To 2060 Index (no deduction for fees, expenses or taxes) | 13.63% | 9.04% | 9.47%<sup>1</sup> |

---

<sup>1.</sup> Since inception November 30, 2015

<sup>\*</sup> Performance for class R3 shares prior to their inception (1/4/21) is derived from the historical performance of class Y shares, adjusted for the higher 12b-1 fees and investor servicing fees applicable to class R3 shares (relative to the comparable fees applicable to class Y shares prior to the inception of class R3 shares).

------

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| | |
|:---|:---|
| <sup>\*\*</sup> | Performance for class R4 shares prior to their inception (1/4/21) is derived from the historical performance of class Y shares, adjusted for the higher investor servicing fees applicable to class R4 shares (relative to the comparable fees applicable to class Y shares prior to the inception of class R4 shares). |

---

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| | |
|:---|:---|
| <sup>\*\*\*</sup> | Performance for class R5 shares prior to their inception (1/4/21) is derived from the historical performance of class R6 shares and has not been adjusted for the lower fund expenses applicable to class R5 shares (relative to the comparable expenses applicable to R6 shares prior to the inception of class R5 shares); had it been adjusted, returns would have been higher. |

---

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| | |
|:---|:---|
| <sup>\*\*\*\*</sup> | Performance for class R6 shares prior to their inception (9/1/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 shares (relative to the comparable fees applicable to class Y shares prior to the inception of class R6 shares); had it been adjusted, returns would have been higher. |

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#### Please keep this supplement with your prospectus for future reference.