Yes in general, you will be notified by the fund company and they will give you some options for where to put the money next. If you don't select any options, they will try to put your money into something similar. Who knows what this might be, so just make sure you read any information that you receive from your fund company.

Also on a side note, the target date fund will not automatically close when it reaches the retirement date. All that happens at this point is that the fund will have more of your money invested in safer assets such as bonds and less invested in stocks. This is the idea of a retirement date fund. It is trying to automatically do what most advisors would recommend (moving your money to safer assets as you approach your retirement). Of course the retirement date funds are designed for the masses, and may not get the allocation just right for you, but it's a very simple strategy which is definitely better than nothing. Hope it helps!

I have Fidelity 2020 FFFDX. It will be rolled into Fidelity Freedom Income Fund - FFFAX which is made up of 25% stocks and 75% bonds.

It will stay in the fund earning very little interest.

Best you move your money into a future dated

year fund. Like 2045.

it will remain in the target fund earning you money until you withdraw it

You have to put a cheeseburger in it

I am interested in starting to invest in target-date funds. I read that target-date funds can close on you, but the stories never go into details on what happens to the investors who invested in those closed target-date fund. So, anyone knows what actually happens to your accumulated investment when the target-date fund that you invest in closes?