TRMOX

About TRMOX

T. Rowe Price Retirement 2065 Fund – I Class is a target-date mutual fund designed for investors planning to retire around 2065. Its primary objective is to deliver total return over time with an emphasis on both capital growth and income by allocating across a diversified mix of underlying T. Rowe Price stock and bond funds. The portfolio follows a glide path that maintains a high equity exposure in early years to pursue growth, then gradually reduces equity toward and after the target date; at the target year, the neutral equity allocation is 55%, declining further for about 30 years post‑retirement. Current positioning emphasizes equities across U.S. large-cap, mid-cap, small-cap, and international developed and emerging markets, alongside modest real assets and a small fixed income sleeve, with allocations adjusted tactically within tight bands around the neutral glide path. The fund is actively managed, uses T. Rowe Price underlying strategies for implementation, and is benchmarked to the S&P Target Date 2065+ Index. This institutional share class features an expense ratio disclosed in the prospectus materials and pursues long-term retirement income sustainability rather than a lump-sum outcome at the target date.