2025 RPB Fund
Lineup Changes
New Tier 1 funds
If you’re invested in our Tier 1 target allocation funds, you’ve enjoyed the convenience of a complete, diversified portfolio of stocks and bonds in a single investment. Our new Tier 1 target date funds—the T. Rowe Price Retirement Blend Trust Class D series—take that convenience a step further.
How target date funds work
Each Retirement Blend Trust in the series is a pre-assembled portfolio that’s targeted to a specific retirement date instead of a fixed investment mix or allocation. These trusts are professionally managed to intentionally reduce your risk as you get older.
Why is that important?
When you’re younger and have more time to ride out the ups and downs of the market, you usually want to be aggressive. That means relying more heavily on stocks in your investment mix.
As you get closer to retirement—and closer to needing your money—you typically want to preserve what you’ve saved by shifting into less risky investments, like bonds.
The glide path: How your investment is adjusted over time
The chart below shows how the investment mix shifts over time, following an investing approach called a glide path. These gradual shifts continue up to the target date and beyond, keeping your investments working for you through retirement.
Retirement Blend Trusts Glide Path
What if your target date has arrived (or is long past)? You may want to consider staying invested in the Retirement Blend Trusts. That way, you still to get access to:
A broad mix of assets that can help reduce investment risk.
Professional managers working to reduce the impact of ups and downs in your portfolio.
Continued automatic periodic risk adjustments for 30 years beyond your target retirement date.
Which T. Rowe Price Retirement Blend Trust is right for you?
The T. Rowe Price Retirement Blend Trust series is designed to closely match the year you will turn 65—the age it’s assumed you’ll retire and stop making contributions to your RPB account.
On May 1, investments in the current Tier 1 funds will be automatically moved to the Retirement Blend Trust that matches your birth year range.
Depending on your risk tolerance, time horizon and individual financial situation, you can choose a Retirement Blend Trust with a different target date any time on or after May 1.
Find Your Retirement Blend Trust
A fully diversified portfolio in a single fund
The Retirement Blend Trusts are made up of other T. Rowe Price trusts. This means you get a mix of different trusts, each investing in hundreds or thousands of securities, in large and small companies, both foreign and domestic.
Retirement Blend Trusts neutral allocations*
Birth year 1998 or after 2.0% Bonds 98.0% Stocks | Birth year 1993 - 1997 2.0% Bonds 98.0% Stocks | Birth year 1988 - 1992 2.0% Bonds 98.0% Stocks | Birth year 1983 - 1987 2.9% Bonds 97.1% Stocks | Birth year 1978 - 1982 4.8% Bonds 95.2% Stocks |
Birth year 1973 - 1977 12.2% Bonds 87.8% Stocks | Birth year 1968 - 1972 22.0% Bonds 78.0% Stocks | Birth year 1963 - 1967 33.8% Bonds 66.2% Stocks | Birth year 1958 - 1962 44.0% Bonds 56.0% Stocks | Birth year 1953 - 1957 48.6% Bonds 51.4% Stocks |
Birth year 1948 - 1952 51.7% Bonds 48.3% Stocks | Birth year 1943-1947 54.7% Bonds 45.3% Stocks | Birth year 1942 or earlier 58.6% Bonds 41.4% Stocks |
Retirement Blend Trusts underlying T. Rowe Price trusts*
| Stock Trusts | Bond Trusts |
|---|---|
Emerging Markets Discovery Stock Trust |
Dynamic Credit Trust |
- *As of January 2025.
- Unlike mutual funds, trusts (like those offered by T. Rowe Price in the RPB 403(b) plan) are exempt from registration under the Securities Act of 1933. Investments in the trusts are not deposits or obligations of, or guaranteed by, the U.S. government or its agencies.
- The principal value of the Retirement Blend Trusts is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the trust.
- These Retirement Blend Trusts invest in many underlying strategies, which means that they are exposed to the risks of different areas of the market. Investors should note that the higher a trust's allocation to stocks, the greater the risk.