T. Rowe Price Target Retirement 2040 Fund

The fund seeks to accomplish its objectives by investing in a broad array of T. Rowe Price's proprietary stock and bond mutual funds, encompassing diverse asset classes and market sectors. Its management strategy is specifically tailored to the designated target retirement year of 2040, as reflected in its name, and operates on the premise of an investor retiring at age 65. This target date denotes the approximate year an investor intends to retire and, typically, discontinue making additional contributions to the fund.