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T. Rowe Price Target Date Funds    Retire With Confidence®

Like most investors, you aspire to retire comfortably with enough income to last through retirement. The T. Rowe Price target date funds are a convenient way to get a diversified portfolio that you can carry to and through retirement.

Retirement Funds

Choose from two distinct types of target date funds:

Retirement Funds

Retirement Funds Chart

Our flagship target date fund series seeks to support withdrawals in retirement that could last 30 years or more. These funds offer higher potential long-term growth and volatility by maintaining an emphasis on stocks before and after the target retirement date.

Select your birth year to
find your Retirement Fund

Target Retirement Funds

Target Retirement Funds Chart

Our new target date fund series seeks to reduce volatility as you near retirement and may better support withdrawals over a shorter time period. These funds offer lower volatility and lower potential long-term growth by emphasizing bonds near the target retirement date.

Want to learn more about the new Target Retirement Funds or need help
choosing a target date fund? Call our investment specialists at 877-495-1038.

A One-Stop Approach.

See how the target date funds are engineered to address investors' changing needs as they approach and live in retirement.

Research Retirement Funds Learn More

How Are They Different?

Learn about the key differences between the Retirement Funds and the Target Retirement Funds.

Target Date Funds Key Differences View Details

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Retirement Funds Highlights

Gold Morningstar Analyst Rating   100% Retirement Funds
Retirement Funds:
Morningstar Analyst RatingTM
as of 2/13/141
100% of our Retirement
Funds beat their 5-year Lipper
average as of 3/31/14.2


Past performance cannot guarantee future results. The principal value of the Retirement Funds and Target Retirement Funds (collectively the "target date 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 target date funds' allocations among a broad range of underlying T. Rowe Price stock and bond funds will change over time. The Retirement 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 retirement withdrawal horizon. The Target Retirement Funds emphasize asset accumulation prior to retirement, balance the need for reduced market risk and income as retirement approaches, and focus on supporting an income stream over a moderate post-retirement withdrawal horizon. The target date funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The key difference between the Retirement Funds and the Target Retirement Funds is the overall allocation to equity; although they each maintain significant allocations to equities both prior to and after the target date, the Retirement Funds maintain a higher equity allocation, which can result in greater volatility over shorter time horizons.

1The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on 5 key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this 5-pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, but the assessment of each pillar and how they are combined is driven by the analyst's overall assessment and overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe.

The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a "Gold" rating distinguishes itself across the 5 pillars and has garnered the analysts' highest level of conviction. A fund with a "Silver" rating has notable advantages across several, but perhaps not all, of the 5 pillars' strengths that give the analysts a high level of conviction. A "Bronze" rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a "Neutral" rating isn't seriously flawed across the 5 pillars, nor does it distinguish itself very positively. A "Negative" rated fund is flawed in at least 1 pillar, if not more, and is considered an inferior offering to its peers. Analyst Ratings are reevaluated every 14 months. For more detailed information about Morningstar's Analyst Rating, including its methodology, please go to corporate.morningstar.com

The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings are based on Morningstar's current expectations about future events; therefore, in no way does Morningstar represent ratings as a guarantee nor should they be viewed by an investor as such. Morningstar Analyst Ratings involve unknown risks and uncertainties, which may cause Morningstar's expectations not to occur or to differ significantly from what we expected.

2Based on cumulative total return, 12 of 12, 12 of 12, 12 of 12, 9 of 9, and 2 of 3 (67%) of the Retirement Funds for individual investors outperformed their Lipper average for the 1-, 3-, 5-, and 10-year and since-inception periods ended 3/31/14, respectively. The Retirement 2010, 2020, 2030, 2040, and Income Funds began operations on 9/30/02; the 2005, 2015, 2025, and 2035 Funds began operations on 2/29/04; the 2045 Fund began operations on 5/31/05; and the 2050 and 2055 Funds began operations on 12/31/06. (Source for data: Lipper Inc.)

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