T. Rowe Price Retirement 2045 Fund Class R 

This fund strategically allocates its investments across a broad spectrum of T. Rowe Price's proprietary stock and bond mutual funds. This approach creates a diversified portfolio that spans various asset classes and market sectors. The composition of these underlying investments is designed to progressively adjust over time, aligning with the fund's specific target retirement date. Specifically, this fund is strategically managed for individuals intending to retire around the year 2045, as indicated by its name, based on the assumption of a 65-year-old retirement age.