Fund Description

The fund invests in a diversified portfolio of other T. Rowe Price equity and fixed income mutual funds, adjusting allocations in relation to a target retirement date. Designed for investors anticipating retirement around 2050, it assumes a retirement age of 65, facilitating gradual withdrawals post-retirement. Its asset allocation strategy features a glide path that shifts toward more conservative investments as retirement approaches, with a neutral equity allocation of 55% at the target date, declining over 30 years thereafter. The fund balances longevity and inflation risks while supporting income generation, reflecting predetermined neutral allocations to equities and fixed income without tactical market adjustments.