T. Rowe Price Retirement 2050 Fund
RRTFX
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- T. Rowe Price Retirement 2050 Fund (RRTFX) is an open-end mutual fund that implements a target-date asset allocation strategy designed for investors planning to retire around 2050, assuming a retirement age of 65, by investing in a diversified portfolio of underlying T. Rowe Price equity, fixed income, and real asset funds representing various asset classes and sectors including U.S. large-cap value, growth, and core stocks (such as T. Rowe Price Value Z, Growth Stock Z, and U.S. Large-Cap Core Z funds); U.S. equity index funds; international value equity and growth equity funds; emerging markets stocks; mid-cap growth and value funds; spectrum income and international bond funds; and real assets funds. The fund's glide path shifts allocations over time to emphasize capital appreciation in early phases through higher equity exposure (currently approximately 95% equities, with 64% U.S. stocks and 31% non-U.S. stocks), balancing growth and income as the target date approaches (reducing to about 55% equities at retirement), and focusing post-retirement on income generation, longevity risk mitigation, inflation protection, and lower volatility with a substantial ongoing equity allocation that declines further to around 20% approximately 30 years after 2050, with the remainder in fixed income securities; it is not designed for lump-sum redemption at the target date nor does it guarantee any specific income level. Launched on December 29, 2006, as part of T. Rowe Price Group's retirement fund series, the fund (R Class shares) is managed by a team including Wyatt Lee (since 2015), Kimberly DeDominicis (since 2019), and Andrew Jacobs van Merlen (since 2020), with total net assets of approximately $16.84 billion across the share class family and a net expense ratio of 1.13%, available primarily to U.S. retirement plan participants and individual investors with minimum initial investments of $2,500 ($1,000 for IRAs). T. Rowe Price Group, Inc., founded in 1937 and headquartered in Baltimore, Maryland, operates globally with offices across the U.S., Canada, Europe, and Asia, serving clients in over 50 countries through its active management expertise in equities, fixed income, multi-asset solutions, and alternatives. In recent strategic developments, T. Rowe Price Group announced a collaboration with Goldman Sachs in September 2025 to broaden access to diversified public and private market portfolios focused on retirement and wealth channels, including Goldman Sachs investing up to $1 billion in T. Rowe Price common stock; additionally, in early 2025, the firm acquired Oak Hill Advisors for $7.5 billion to enhance private credit capabilities and meet client demand for alternative investments, supporting expanded offerings within retirement funds like RRTFX through underlying portfolio diversification.