When it comes to saving for retirement, you want to feel confident in your investments. But you may not have the time or experience to build and manage your own portfolio. With the T. Rowe Price Retirement Funds, you get a pre-assembled, professionally managed portfolio—all in a single fund.

Start investing today.

Questions? Call us at 866-691-2244

Which Retirement Fund is right for you?

Simply choose the fund with the target date closest to the year you plan to retire (assumed to be age 65). Or pick a fund based on the year you were born.

If you were born...

You might consider investing in...

In 1952 or before Retirement 2005 FundRetirement 2010 Fund, or Retirement 2015 Fund
1953–1967 Retirement 2020 FundRetirement 2025 Fund, or Retirement 2030 Fund
1968–1982 Retirement 2035 FundRetirement 2040 Fund, or Retirement 2045 Fund
In 1983 or after Retirement 2050 FundRetirement 2055 Fund, Retirement 2060 Fund, or Retirement 2065 Fund

Note: Depending on your risk tolerance, time horizon, and financial situation, you may consider a Retirement Fund with a different target date.

Why invest in a T. Rowe Price Retirement Fund?

Instant Diversification

Each fund invests in a broad range of stocks, bonds, and short-term investments—making a Retirement Fund a convenient all-in-one solution.

Simple Lifelong Approach

The fund's investment mix automatically adjusts during your working years and throughout retirement, becoming more conservative over time. 

Professional Management

You can feel confident knowing your portfolio is managed by our deeply experienced investment team—averaging 22 years in the industry.

Thoughtful Risk Management

Our portfolio managers focus on carefully balancing market, inflation, and longevity risks—striving to help you build a retirement nest egg that lasts.

Over 95% of our Retirement Funds with a 10-year track record beat their 10-year Lipper average as of 12/31/20.*
T. Rowe Price Retirement Funds have received the Gold Analyst Rating by Morningstar, their highest rating offered.**

Retirement 2005-2060 Funds Investor Class, as of 2/19/21 Morningstar US Fund Target Date category

Pursuing stronger long-term returns for a better retirement.

Our track record of delivering strong long-term returns1 over time has the potential to deliver investors more money in retirement. These returns show how our strategic investing approach beat the index, even after accounting for the impact of fund expenses.

Our Retirement 2030 Fund outpaced the S&P Target Date 2030 Index since its inception over 18 years ago (9/30/2002–12/31/2020).

chart showing Retirement 2030 Fund delivered an extra $107,000 compared to the S&P Target Date 2030 Index
plus 24% The strategic investing difference

We have delivered better outcomes for retirement investors.

Our strategic investing approach can help you achieve your retirement goals.

This chart shows how our Retirement 2030 Fund delivered an extra $107,000 over 18 years since inception compared with a passive approach. These returns show how our strategic investing approach beat the index, even after accounting for the impact of fund expenses.

As of 12/31/2020, the fund’s 1-5-, and 10-year average annual total returns were 15.90%11.34%, and 9.76%, respectively.

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. To obtain the most recent month-end performance, visit troweprice.com. 

Expense ratio for the Retirement 2030 fund is 0.64% as of the most recent prospectus.

1T. Rowe Price’s 11 out of 11 Retirement Funds outperformed their corresponding S&P Target Date Index benchmarks. Funds included in the study were those that had a 10-year performance history as of December 31, 2020. The T. Rowe Price Retirement 2060 and 2065 Funds were omitted from this analysis because they have less than ten years of performance history.

The “S&P Target Date Index” is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (“SPDJI”), and has been licensed for use by T. Rowe Price. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); T. Rowe Price’s Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P Target Date Index.

Index performance is for illustrative purposes only and is not indicative of any specific investment. Investors cannot invest directly in an index.

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Call 866-691-2244

*36 of our 40 Retirement Funds (Investor, Advisor, and R Class) had a 10-year track record as of 12/31/20 (includes all share classes). 35 of these 36 funds beat their Lipper average for the 10-year period. 40 of 40, 40 of 40, and 39 of 39 of the Retirement Funds outperformed their Lipper average for the 1-, 3-, and 5-year periods ended 12/31/20, respectively. Calculations are based on cumulative total return. Not all funds outperformed for all periods. (Source for data: Lipper Inc.) 

The principal value of the Retirement 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 funds’ allocations among a broad range of underlying T. Rowe Price stock and bond funds will (with the exception of the Retirement Balanced Fund) change over time. The funds (other than the Retirement Balanced Fund) 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 postretirement withdrawal horizon. The funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.

**Gold Ratings apply to the Investor Class of the funds as of February 19, 2021.  Analyst Ratings for other share classes or other T. Rowe Price target date series may differ. The 2065 vintage has not been rated due to its limited history.

The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. For both active and passive strategies, performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, the modification by alpha dispersion is not used.

The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. For passive funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will be able to deliver a higher alpha net of fees than the lesser of the relevant Morningstar category median or 0. The level of the rating relates to the level of expected net alpha relative to Morningstar category peers for passive funds. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will deliver a weighted pillar score above a predetermined threshold within its peer group. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months.

Detailed information about Morningstar's Analyst Rating, including its methodology.

The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund.

©2021 Morningstar. 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. Past performance is no guarantee of future results.