The T. Rowe Price Retirement Funds are designed to provide you with professionally managed, highly diversified, and cost effective investment options that you can invest in up to and throughout retirement.

ONE-STEP FUND-OF-FUNDS OPTION

  • Ongoing asset allocation, rebalancing, and investment management are incorporated in a single fund.

MANAGED TO AND THROUGH RETIREMENT

  • The T. Rowe Price Retirement Funds are designed to stay with you throughout your retirement journey.

SEEKS TO THOUGHTFULLY CONSIDER RETIREMENT RISK FACTORS

When managing their portfolios, our investment managers monitor the exposure of each fund to common risk factors, such as:

1. Market volatility—the chance that your portfolio's value will decline due to market losses.

2. Inflation—the chance that inflation will reduce the purchasing power of your savings.

3. Longevity—the chance that you will outlive your savings.

ASSET ALLOCATION ADJUSTS OVER TIME

  • Allocation to stocks and bonds changes gradually over time (commonly referred to as the glide path), so it becomes more conservative as it approaches the retirement year.

This chart shows the neutral allocations for the funds as of January 1, 2016. The allocation for each fund may vary from the long-term neutral allocation. Call 1-800-922-9945 for the most current asset allocation.

INSTANT PORTFOLIO DIVERSIFICATION

  • Each fund invests in a wide array of T. Rowe Price funds that represent various asset classes and investment styles. Keep in mind, diversification cannot assure a profit or protect against loss in a declining market.
  • We don't charge additional management or "wrap" fees. The target date funds bear the weighted average cost of the underlying funds' expense ratios.
  • When choosing a Retirement Fund, you should also consider your risk tolerance, time horizon, and financial situation.

ONGOING ACTIVE MANAGEMENT

  • Each underlying investment is actively managed by professional and well-tenured investment staff.
  • Ongoing modest tactical asset allocation adjustments are made to the target date funds to reflect our market outlook—at no additional cost to you.

The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds’ allocation among a broad range of underlying T. Rowe Price stock and bond funds will change over time. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term post-retirement withdrawal horizon. The funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.