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.

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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.

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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
Morningstar Analyst
Rating for Target Date
Fund Series as of 12/31/141
100% of our Retirement
Funds beat their 10-year Lipper
average as of 6/30/15.2


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 postretirement 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 for Target Date Fund Series is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar. Morningstar evaluates the Target Date Fund Series based on five key pillars, which are process, performance, people, parent, and price. Analysts use this five-pillar evaluation to determine how they believe the Target Date Fund Series is likely to perform over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, or Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an Analyst's conviction in a Target Date Fund Series' prospects for outperformance.

The Analyst Rating scale is Gold, Silver, Bronze, Neutral, or Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an Analyst's conviction in a Target Date Fund Series' prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated quarterly. The Morningstar Analyst Rating for a Target Date Fund Series may differ from the Morningstar Analyst Rating for a target date fund that underlies that series.
For more detailed information about the Morningstar Analyst Rating for Target Date Fund Series, including its methodology, please go to https://corporate.morningstar.com/us/documents/MethodologyDocuments/FactSheets/TargetDateRating.pdf
The Morningstar Analyst Rating for Target Date Fund Series should not be used as the sole basis in evaluating a Target Date Fund Series or individual target date fund. 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.
©2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

2Based on cumulative total return, 34 of 36 (94%), 36 of 36, 36 of 36, and 20 of 20 of the Retirement Funds (including all share classes) outperformed their Lipper average for the 1-, 3-, 5-, and 10-year periods ended 6/30/15, respectively. Not all funds outperformed for all periods. (Source for data: Lipper Inc.)