Retirement I 2055 Fund - I Class
TRPNX
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- T. Rowe Price Retirement I 2055 Fund - I Class (TRPNX) operates as a target-date mutual fund designed for investors planning to retire around 2055, pursuing the highest total return over time with an emphasis on capital growth and income. The fund invests in a diversified portfolio of underlying T. Rowe Price stock and bond mutual funds representing various asset classes and sectors, including approximately 64% U.S. equities, 31% non-U.S. equities, minimal bonds, and cash; its allocation shifts gradually toward fixed income as the target date approaches while maintaining significant equity exposure post-retirement to balance longevity, inflation, and income needs. It is managed by T. Rowe Price Associates, Inc., with portfolio managers Wyatt A. Lee, Kimberly E. DeDominicis, and Andrew G. Jacobs van Merlen, and features a net expense ratio of 0.46% for the I Class shares. Launched on September 29, 2015, the fund is part of T. Rowe Price's Retirement series offered through T. Rowe Price Retirement Funds, Inc., an open-end investment company domiciled in the United States and available primarily to U.S. investors, including through retirement plans and individual accounts with minimum initial investments of $2,500. T. Rowe Price Group, Inc., headquartered in Baltimore, Maryland, oversees the fund as part of its broader active investment management platform focused on equities, fixed income, and multi-asset strategies for retirement and wealth clients. In September 2025, T. Rowe Price announced a strategic collaboration with Goldman Sachs, involving a planned investment of up to $1 billion in T. Rowe Price common stock (targeting up to 3.5% ownership) and the development of co-branded target-date strategies set for launch in mid-2026. These new offerings will incorporate T. Rowe Price's retirement expertise with private market capabilities from Goldman Sachs and Oak Hill Advisors, broadening access to diversified public and private assets for retirement plans, financial advisors, and high-net-worth individuals. No other major acquisitions, funding rounds, or operational reorganizations specific to TRPNX have been reported in the last two years.