Gliding into retirement.
A single SFDCP Target Date Fund is made up of a combination of stocks and bonds. This means that, whichever you choose, you get a fully diversified portfolio that invests in hundreds or thousands of securities. And one fund is all you need.
Each fund will gradually shift from stocks to bonds to provide the appropriate mix as you get older, following an investing approach called a glide path.
T. Rowe Price has identified, modeled, and analyzed City and County of San Francisco employee demographics, available benefits, savings rates, income needs in retirement, and more to design a fully customized and thoughtfully constructed investment glide path for the SFDCP Target Date Funds.
Allocation of stocks and bonds across the glide path
The SFDCP Target Date Funds provide a higher allocation of stocks during your working years to help grow your savings when retirement is still far off, gradually shifting to conservative bond investments as you near your retirement year to preserve your savings. After your retirement year, your allocation will continue to shift to a more conservative mix of investments, until finally reaching a static allocation 10 years into retirement.
Tactical asset allocation
In addition to managing the glide path design, T. Rowe Price also provides tactical asset allocation. Highly skilled T. Rowe Price investment professionals closely monitor market conditions and may periodically make minor allocation changes as needed, in an effort to reduce the impact of market volatility on your account.
Bond diversification
The SFDCP Target Date Funds provide a diversified bond allocation in an effort to address inflation risks and help provide stability during times of market volatility.
The chart below illustrates the glide path.
A convenient approach to investing.
Your SFDCP Target Date Funds are designed to help grow your savings in your working years, becoming increasingly more conservative over time, and now evolving for 10 years into retirement.
*Effective 8/22/2025
Important note for Public Safety Employees: Sworn Fire, Sheriff, and Police Officers may choose to use an earlier retirement age if appropriate based upon their eligible retirement date. For example, if you plan on retiring at age 55, you may want to consider the SFDCP Target Date Fund for the year in which you turn 55 rather than age 65. You may choose a fund based on a retirement age earlier than 65.
The specific income needs of San Francisco retirees were closely researched and analyzed in the development of proper allocations included in the glide path. Each SFDCP Target Date Fund provides stock allocations for continued growth potential leading up to retirement, then shifting to more conservative bond allocations as you approach age 65 to preserve your savings and your spending power. At age 75, your allocation will automatically shift to a static allocation.
The specific income needs of San Francisco retirees were closely researched and analyzed in the development of proper allocations included in the glide path. Key enhancements for retirees include:
*Effective 8/22/2025
Important note for Public Safety Employees: Sworn Fire, Sheriff, and Police Officers may choose to use an earlier retirement age if appropriate based upon their eligible retirement date. For example, if you plan on retiring at age 55, you may want to consider the SFDCP Target Date Fund for the year in which you turn 55 rather than age 65. You may choose a fund based on a retirement age earlier than 65.
The specific income needs of San Francisco retirees were closely researched and analyzed in the development of proper allocations included in the glide path. Each SFDCP Target Date Fund provides stock allocations for continued growth potential leading up to retirement, then shifting to more conservative bond allocations as you approach age 65 to preserve your savings and your spending power. At age 75, your allocation will automatically shift to a static allocation.
Each SFDCP Target Date Fund is made up of a variety of other investments, well beyond what is available within the plan's core lineup.
This means that, whichever single target date fund you choose, you get a mix of stocks and bonds—in large and small companies, both foreign and domestic.
Tactical asset allocation
Highly skilled investment professionals at T. Rowe Price will also closely monitor market conditions and may periodically make minor asset allocation changes to the glide path, if needed.
Each investment along the glide path was carefully selected based on the unique needs of City and County of San Francisco employees and retirees. New fixed income assets are also being added to increase your diversification across both international and domestic bonds in an effort to lower your risk against inflation and market volatility.
Equity (stock) is ownership interest in a company or property.
Fixed income (bond) are securities that pay a fixed rate of return. This term usually refers to government, corporate, and municipal bonds, which pay a fixed interest rate until the bond matures.
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About T. Rowe Price
Retirement is at the heart of what we do. We offer financial solutions that adjust to needs and life stages—to, through, and beyond retirement.
202507-4525956
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