Each Retirement Hybrid Trusts invests in other T. Rowe Price funds across asset classes - an all in one package.

Each Retirement Fund invests in other T. Rowe Price funds across asset classes - an all in one package.

Automatic rebalancing
The T. Rowe Price Retirement Fund's investment portfolio automatically adjusts over time, becoming more conservative as the retirement year approaches.

Actively managed through your retirement years

This chart shows the neutral allocations for the funds as of ********[DATE]********. The allocation for each fund may vary from the long-term neutral allocation

When choosing a Retirement Fund, investors should also consider their risk tolerance, time horizon, and financial situation.

The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate date when investors turn age 65. The funds invest in a broad range of underlying mutual funds that include stocks, bonds, and short-term investments and are subject to the risks of different areas of the market. 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 more on income and principal stability during retirement. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility.

All funds may not be available in your plan. Check a recent copy of your plan information to confirm your fund choices.