Enhancements to our Pension & Savings Program

Fidelity ClearPath Portfolio target date funds are a professionally managed diversified investment portfolio of securities (such as stocks and bonds) that shift toward a more conservative asset allocation over time you approach your investment goal, such as retirement.

Each Fidelity ClearPath Portfolio has a target year. It’s designed to have a level of risk consistent with an expected retirement date. You can keep money in the ClearPath Portfolio target date fund throughout your career because the fund automatically adjusts investments over time to reduce investment risk as you get closer to retirement. Since each Portfolio is itself a mix of investments, you only need to invest in one target date fund to reduce the investment risk over time.

All members can make this investment choice when the Fidelity ClearPath Portfolios become available on June 20, 2025.

How you invest your Johnson & Johnson Defined Contribution (DC) pension plan and savings plans money is an essential element for building retirement savings. Fidelity ClearPath Portfolio target date funds reduce the amount of effort required by you to maintain risk-appropriate investments over time. In particular, these funds are helpful for members who have limited time to make investment decisions or who would rather have an investment option that automatically adjusts the investment mix on their behalf.

Fidelity ClearPath Portfolio target date funds provide an investment allocation that is appropriate for an individual aiming to retire in a fixed future year. These funds automatically adjust the investment mix and risk profile as the member gets closer to that target year. Fidelity ClearPath Portfolio target date funds are available to individual investors, so you can continue to invest in them even after you leave the Johnson & Johnson Pension & Savings Program.

We are offering these new investment options as a result of our efforts to continually improve our benefit plan choices.

A target date fund is a professionally managed diversified investment portfolio that is designed to provide an investment mix that adjusts and becomes more conservative as the target date of the fund approaches.

Each fund seeks to provide a diversified, age-appropriate investment to help you achieve financial security when you retire.

Each fund consists of a mix of investments, including global stocks and bonds, which slowly change over time to reduce your risk as you near the time frame of the fund.

You’re welcome to consult with a financial advisor who can review these options and recommend the best approach for your personal financial situation.

Fidelity ClearPath Portfolio target date funds will become an investment option on June 20, 2025.

All participants will be able to invest in ClearPath Portfolio target date funds beginning June 20, 2025. You can log into the For Your Benefit Portal (FYB Portal)  and move all or part of your DC pension plan and savings plans investments to a ClearPath Portfolio target date fund if you choose. As with any financial decision, you should consult with your financial advisor for more information.

We are offering these new investment options as a result of our efforts to continually improve our benefit plan choices.

Fidelity ClearPath Portfolio target date funds provide a customized investment option that helps members meet their retirement savings goals by automatically adjusting the investment mix and risk profile over time.

As part of this transition to ClearPath Portfolios, the PH&N Balanced Fund will no longer be an investment option after fall 2025.

You may check your current investment elections and balances on the FYB Portal  on the Monitor page.

If you have money in the PH&N Balanced Fund and do not wish to invest in the target date funds, you can log into the For Your Benefit Portal (FYB Portal)  and change your investment elections to move all current funds out of the Balanced Fund.

If you have chosen to invest all or part of your contributions in the PH&N Balanced Fund, your current contributions will remain unchanged until the Balanced Fund is removed in the fall. At that time, if you don’t make a new investment election, your money will be moved to the ClearPath Portfolio most aligned with the year of your 65^th birthday. For example, if you were born in 1970, your PH&N Balanced Fund money will automatically transfer to the ClearPath 2035 Portfolio.

If you have investments by default in the PH&N Balanced Fund, contributions as of June 20, 2025 will be invested in the ClearPath Portfolio closest to your 65^th birthday. If you do not make a new investment election before the fall, all your Balanced Fund money will be moved to the ClearPath Portfolio closest to the year of your 65^th birthday.

Nothing will happen if you don’t have money in the Balanced Fund.

Nothing will happen if you don’t have money in the Balanced Fund. As of June 20, 2025, you will be able to select any of the ClearPath Portfolio target date funds as an investment. Or you can continue to choose to invest in any of our other fund options.

When applicable, you will be mapped to a fund that most closely aligns to the year of your 65^th birthday, a typical retirement age. If this doesn’t match your retirement expectations, you can always choose a different target date fund before then. To understand how you will be mapped, review this table:

Yes, you still have complete control and ultimate responsibility over your investments. The “target date” of the fund is the expected “target” time frame of your retirement. If you would like to increase or decrease the overall amount you contribute to your retirement funds and/or the amounts you allocate to the various investment options, you may do so at any time on FYB. If you do not want to invest in the target date funds, you are free to invest in any of the other investment funds offered.

We recommend you consult with a financial advisor about planning for retirement. Although investment performance is not guaranteed, the target date fund provides a diversified fund that includes an investment asset allocation adjusted for risk for someone aiming to retire in the target year.

Yes, but in most cases, it’s not necessary. One exception, though, would be if your desired retirement year is between two target date funds’ targets. In that case, you might decide to invest in both rather than investing in one or the other.

Yes. You are free to invest in any or all of the funds offered, but the Fidelity ClearPath Portfolio target date funds are designed to be an overall investment solution.

Your Portfolio will continue to rebalance even after reaching its target year. Approximately 20 years after its target date, it will reach its most conservative mix. This feature helps to preserve wealth and generate retirement income.