Fund Description

The fund invests in a diversified portfolio of other T. Rowe Price equity and fixed income mutual funds across various asset classes and sectors, adjusting allocations over time according to its target retirement date of 2045. Designed for investors anticipating retirement around this date, the fund provides a gradual withdrawal strategy post-retirement. Its asset allocation follows a predetermined glide path that shifts towards more conservative holdings as retirement approaches, maintaining a neutral equity allocation of 55% at the target date. The equity component includes both U.S. and international funds with growth and value strategies, while the fixed income component emphasizes lower volatility and responsiveness to market conditions.