Fund Facts  

Inception Date: Feb 27, 2004
CUSIP: 74149P812
Ticker Symbol: TRRFX
Morningstar Category:Target-Date 2000-2010
As of Aug 31, 2017
Fund Net Assets ($millions) $1,756

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income.

Principal Investment Strategies  

The fund pursues its objective by investing in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. It is managed based on the specific retirement year (target date 2005) included in its name and assumes a retirement age of 65. While the fund is non-diversified, it invests in diversified underlying holdings.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
T Rowe Price® Retirement 2005a2.43%8.32%7.39%4.97%5.96%4.81%5.85%
S&P Target Date Retirement Income Indexa,b2.06%6.17%5.37%4.14%4.60%3.89%N/A
Morningstar Target-Date 2000-2010a,c2.40%7.74%7.10%4.66%5.51%3.89%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund Expensesa
Gross Expenses0.58%
Net Expenses0.58%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (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 and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The S&P Target Date Indexes reflect exposure to various asset classes included in target date funds driven by a survey of such funds for each particular target date.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 21, 2016Dec 21, 2016$0.405000000
Dec 18, 2015Dec 18, 2015$0.470000000
Dec 19, 2014Dec 19, 2014$0.530000000
Dec 20, 2013Dec 20, 2013$0.400000000
Dec 20, 2012Dec 20, 2012$0.310000000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 4 Stars88
3-Year 3 Stars88
5-Year 3 Stars66
10-Year 5 Stars54

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Moderate
Allocation of Assets As of Jun 30, 2017
Type of Asset Percent
Equity35%
Fixed Income59%
Cash/Other6%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Jun 30, 2017
Asset ClassPercent
Domestic Stock23.7%
Foreign Stock11.5%
Domestic Bond47.0%
Foreign Bond12.0%
Preferred0.0%
Convertible0.2%
Cash4.4%
Other1.1%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Jun 30, 2017
SectorPercent
Government26.1%
Corporate16.8%
Securitized15.5%
Cash & Equivalents4.4%
Municipal0.4%
Derivative0.0%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Jun 30, 2017
Quality LevelPercent
AAA56.6%
AA3.3%
A7.5%
BBB15.2%
BB6.2%
B8.3%
Below B2.0%
Not Rated0.8%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Jun 30, 2017
Holding NamePercent
T. Rowe Price New Income32.0%
T. Rowe Price Equity Index 50018.0%
T. Rowe Price Ltd Dur Infl Focus Bd17.9%
T. Rowe Price High Yield4.6%
T. Rowe Price Emerging Markets Bond4.4%
T. Rowe Price International Bond4.0%
T. Rowe Price Overseas Stock3.5%
T. Rowe Price International Value Eq3.3%
T. Rowe Price International Stock3.2%
T. Rowe Price Emerging Markets Stock1.6%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta1.391.34
Alpha-0.63-0.14
Standard Deviation4.744.77
 
 

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

 

Fund-to-Fund Transfers involving the T.Rowe Price Funds will be limited to reduce excessive trading and its adverse effects on the funds. If you transfer assets out of a T.Rowe Price Fund to another investment option, you must wait at least 31 days before transferring assets back into the same fund.

 

Footnotes

1.

T. Rowe Price® is a registered trademark of T. Rowe Price Group, Inc. - all rights reserved.

2.

The Fund is not a complete solution for all of your retirement savings needs. An investment in the Fund includes the risk of loss, including near, at or after the target date of the Fund. There is no guarantee that the Fund will provide adequate income at and through an investor's retirement.

3.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® 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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.