# EDGAR Filing Document

**Accession Number:** 0001177017
**File Stem:** 0001193125-23-014009
**Filing Date:** 2023-1
**Character Count:** 69370
**Document Hash:** cd72bffb72985e4495a7c4125db7bf36
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-014009.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001193125-23-014009

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**EFFECTIVENESS DATE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Retirement Funds, Inc.
- **CENTRAL INDEX KEY:** 0001177017
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21149
- **FILM NUMBER:** 23546886

**BUSINESS ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** T ROWE PRICE RETIREMENT FUNDS INC
- **DATE OF NAME CHANGE:** 20020702

## Series and Classes Contracts Data

### T. Rowe Price Retirement 2060 Fund (Series ID: S000045512)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000141687 | T. Rowe Price Retirement 2060 Fund               | TRRLX           |
| C000141688 | T. Rowe Price Retirement 2060 Fund-Advisor Class | TRRYX           |
| C000141689 | T. Rowe Price Retirement 2060 Fund-R Class       | TRRZX           |

T. ROWE PRICE RETIREMENT 2060 FUND

Long 9 MSCI EAFE Index, underlying Price Fund, $2.00 for the Transfer Fund, if held 133
Mid-Cap Value Funds 2,000,000 2,474 3,129 3,000,000 3,176
Short 2 Russell 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000, 2000
Long 31, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500
Long 31, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500
Long 31, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500
Long 31, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500, 500

76

T. ROWE PRICE RETIREMENT 2060 FUND

November 30, 2022 (Unaudited)

securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the six months ended November 30, 2022. Total Equity Mutual Funds (Cost $1,350,566) change in net unrealized gain/loss reflect 1,442,781 for the period then ended.

| OTHER MUTUAL FUNDS |  | Change in Net |  |
| --- | --- | --- | --- |
| T. Rowe Price Funds: |  | Unrealized | Investment |
| Affiliate | Net Realized | Gain/Loss | Gain/Loss |
| Investments in securities, at value (cost $1,401,000) 1,359 1,407,000 |  |  |  |
| The net effect of the share of the net of these financial securities |  |  |  |
| Total Other Mutual Funds (Cost $182) |  |  | 183 |
| T. Rowe Common Funds receivable on futures contracts |  |  | 168 |
| Total assets |  |  | 1,500,206 |
| Liabilities |  |  |  |
| Payable for shares redeemed |  |  | 1,698 |

77

T. ROWE PRICE RETIREMENT 2060 FUND

(Unaudited)

| STATEMENTS OF ASSETS AND LIABILITIES | $ | 68 | $ | (104) | $ | 30 |
| --- | --- | --- | --- | --- | --- | --- |
| Entering Bank's General Reserve Fund |  | (463) |  | (918) |  | - |
| Entering Bank's General Reserve Fund |  | (438) |  | (1,573) |  | - |
| Entering Bank's Stock Fund |  |  |  |  |  |  |
| Equity |  |  |  | (832) |  | 1,195 |
| Money Fund 3.84% (3) | 29,381 | 71,612 | 63,052 | 37,941,127 |  | 37,941 |
| Gross Unsecured Management and administrative fees payable |  | (2,406) |  | (7,374) |  | 6 Months |
| Internal Revenue and Financial Services purchased |  | (6) |  | (106) |  | Ended |
| Internal |  |  |  |  |  | 11/30/22 |
| Internal Revenue and Financial Services (Loss) |  | (2,161) |  | (858) |  | 3,297 |
| Income |  |  |  |  |  |  |
| NET ASSETS |  |  |  |  |  |  |
| Net assets contributions from underlying Price Funds |  |  |  |  | $ | 1,496,909 |
| Interest |  |  |  |  |  | 7 |
| Net Assets Consist of: |  |  |  |  |  | 1,904 |
| Expenses |  |  |  |  |  |  |

The accompanying notes are an integral part of these financial statements.

78

T. ROWE PRICE RETIREMENT 2060 FUND

(Unaudited)

| STATION OF OPERATIONS | Bond Fund | (519) | 379 | 6 |
| --- | --- | --- | --- | --- |
| Mid-Cap Growth Fund |  | (307) | 1,630 | - |
| Mid-Cap Value Fund |  | 90 | 517 | - |
| New Horizons Fund |  | (313) | 1,422 | - |
| New Income Fund |  | (62) | (332) | 117,300 |
| Overseas Capital Fund |  | 6 Months | (883) | 4,398 |
| Real Assets |  | 5 Months | (1,657) | 5/31/22 |
| Small-Cap Value Fund |  | (140) | 2,012 | 1,379,757 |
| Small-Cap Value Fund |  | (160) | 3,874 | 595 |
| NET ASSETS |  |  |  | 1,496,909 |
| Net investment income (loss) |  | $ | (3,089) | 3,089 |
| Net investment loss |  |  |  | (3,089) |
| Net realized gain (loss) |  |  | (10,000) | 127,026 |
| NET ASSET VALUE PER SHARE |  |  |  |  |
| Change in net unrealized gain / loss |  |  | (3,099) | (282,132) |
| Realized and Unrealized Gain / Loss |  |  |  |  |
| Decrease in net assets from operations |  |  | (16,188) | (146,409) |

The accompanying notes are an integral part of these financial statements.

79

T. ROWE PRICE RETIREMENT 2060 FUND

(Unaudited)

| STATEMENT OF CHANGES IN NET ASSETS |  |  |  |
| --- | --- | --- | --- |
|  | 60 | 1 | 30 |
| (000s) |  |  |  |
| U.S. Equity Research Fund | (291) | 441 | - |
| U.S. Large-Cap Core Fund | (153) | 3,127 | - |
| U.S. Treasury Long-Term Index Fund | (54) | (370) | 56 |
| Value Invested Class (loss) | (1,199) | 6 Months Ended | Year Ended |
| U.S. Tax (1,144,800,435 / 1,072,000,703 shares outstanding) | - | 11/30/22 | 5/31/22 |
| Totals | $(10,541)# | $(4,187) | $1,997 + |
| Net Assets | $(10,541)# | $(4,187) | $(46,388) |
| ($170,500,138 / 12,476,624 shares outstanding) |  |  |  |
| Increase (decrease) during period |  | 74,331 | (64,038) |
| R Class (loss) |  |  | (10,000) |
| Decrease in period |  | 1,422,578 | 1,506,516 |
| ($170,418,858 / 12,434,867 shares outstanding) |  |  |  |
| End of period |  | $1,496,909 | $1,422,578 |
| Decrease in net assets from distributions |  | - | (60,019) |
| Change in net unrealized gain / loss |  |  |  |
| Share information (000s) |  |  |  |

80

T. ROWE PRICE RETIREMENT 2060 FUND

Unaudited

# STATEMENT OF CHANGES IN THE SCENE

- Capital gain distributions from underlying Price funds represented $102 of the net realized gain (loss).
- Investment income comprised $1,897 of income distributions from underlying Price Funds.

Underlying Price Funds
Capital gain distributions (4,187)
Investment Company Act of 1940 (the 1940 Act). T. Rowe Price Retirement 2060 Fund
Shares and Loss 18,272 33,333
(Shares and Loss) and unrealized gain/loss management investment company and is 2,000 of
Net realized and unrealized gain/loss 242,788 114,008
The Company established by the corporation. The fund invested a portfolio 15,000
To Rowe Price stock and bond funds (underlying Price Funds) 15,000 represent 63,141
DECREASE IN NET ASSETS FROM OPERATIONS $(16,188)
accumulative and other. The fund's allocation among underlying Price Funds was
change and its asset mix will become more conservative over time. The fund is the
highest total return over time consistent with an emphasis on both capital growth and

The accompanying notes are an integral part of these financial statements.

81

T. ROWE PRICE RETIREMENT 2060 FUND

NOTICE TO FINANCIAL STATEMENTS these financial statements.

T. Rowe Price Retirement Funds, Inc. (the corporation), is registered under the transactions are accounted for on the trade date basis. Income and expenses are recorded on the accrual basis. Realized gains and losses are reported on the identified cost basis. Premiums and discounts on debt securities are amortized for financial statements. The fund has three classes of shares: the Retirement Fund, 2060 Fund, 2060 Fund, and 2060 Fund. The Retirement Fund, 2060 Fund, 2060 Fund, and 2060 Fund, are listed as follows: the Company's share of the capital gain (in thousands) and the Company's share of the capital gain (in thousands) are listed as follows: the Company's share of the capital gain (in thousands) and the Company's share of the capital gain (in thousands) are listed as follows: the Company's share of the capital gain (in thousands) and the Company's share of the capital gain (in thousands) are listed as follows: the Company's share of the capital gain (in thousands) and the Company's share of the capital gain (in thousands) are listed as follows: the Company's share

82

T. ROWE PRICE RETIREMENT 2060 FUND

# **Investment Transactions, Investment Income, and Distributions** Investment

on the ex-dividend date. Distributions to shareholders are recorded on the ex-dividend date. In connection with its officers and directors, service providers, and/or data, income distributions, if any are declared and paid by each class annually. A capital of $100,000 is available for the first class of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of the class. The class is not a member of

83

T. ROWE PRICE RETIREMENT 2060 FUND

**Indemnification** In the normal course of business, the fund may provide

the full amount of funds and instruments allocated to the financial and other related activities. The fund is not to be used for any other purpose. The fund is not to be used for any other purpose.

on part of the net revenue of 0.25% and 0.50% respectively, at the market average daily at Level 3 - unobservable inputs (including the Valuation Designee's assumptions in the measurement date. Investments in the underlying Price Funds are valued at their

**NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES**
The Company shall be aware on the day of valuation, said securities generally are traded in **in-kind Redemptions** in accordance with guidelines described in the herein. The Company shall not be liable for any loss or damage to the Company's business or its subsidiaries, whether in the following: (1) any of the following: (2) any of the following: (3) any of the following: (4) any of the following: (5) any of the following: (6) any of the following: (7) any of the following: (8) any of the following: (9) any of the following: (10) any of the following: (11) any of the following: (12) any of the following: (13) any of the following: (14) any of the following: (15) any of the following: (16) any of the following: (17) any of the following: (18) any of the following: (19) any of the following: (20) any of the following: (21) any of the following: (22) any of the following: (23) any of the following: (24) any of the following: (25) any of the following: (26) any of the following: (27) any of the following: (28) any of the following: (29) any of the following: (30) any of the following: (31) any of the following: (32) any of the following: (33) any of the following: (34) any of the following: (35) any of the following: (36) any of the following: (37) any of the following: (38) any of the following: (39) any of the following: (40) any of the following: (41) any of the following: (42) any of the following: (43) any of the following: (44) any of the following: (45) any of the following: (46) any of the following: (47) any of the following: (48) any of the following: (49) any of the following: (50) any of the following: (51) any of the following: (52) any of the following: (53) any of the following: (54) any of the following: (55) any of the following: (56) any of the following: (57) any of the following: (58) any of the following: (59) any of the following: (60) any of the following: (61) any of the following: (62) any of the following: (63) any of the following: (64) any of the following: (65) any of the following: (66) any of the following: (67) any of the following: (68) any of the following: (69) any of the following: (70) any of the following: (71) any of the following: (72) any of the following: (73) any of the following: (74) any of the following: (75) any of the following: (76) any of the following: (77) any of the following: (78) any of the following: (79) any of the following: (80) any of the following: (81) any of the following: (82) any of the following: (83) any of the following: (84) any of the following: (85) any of the following: (86) any of the following: (87) any of the following: (88) any of the following: (89) any of the following: (90) any of the following: (91) any of the following: (92) any of the following: (93) any of the following: (94) any of the following: (95) any of the following: (96) any of the following: (97) any of the following: (98) any of the following: (99) any of the following: (100) any of the following

![img-0.jpeg](img-0.jpeg)

![img-1.jpeg](img-1.jpeg)

![img-2.jpeg](img-2.jpeg)

![img-3.jpeg](img-3.jpeg)

![img-4.jpeg](img-4.jpeg)

![img-5.jpeg](img-5.jpeg)

![img-6.jpeg](img-6.jpeg)

![img-7.jpeg](img-7.jpeg)

![img-8.jpeg](img-8.jpeg)

![img-9.jpeg](img-9.jpeg)

84

T. ROWE PRICE RETIREMENT 2060 FUND

instruments in inactive markets, interest rates and yield curves, implied

* Varying fair value, the individual's purchase price is 2.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price

NOTE: THE DEBT RATIO IS 2.0% AND THE DEBT RATIO IS 1.0% AND THE DEBT RATIO IS 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%. The price is 1.0% and the yield of the product is 1.0%.

![img-10.jpeg](img-10.jpeg)

85

T. ROWE PRICE RETIREMENT 2060 FUND

Capital Transactions, which involve a value of $100,000, is the total value of the Total, which is the total value of the Total. The total value of the Total is the total value of the Total. The total value of the Total is the total value of the Total.

86

T. ROWE PRICE RETIREMENT 2060 FUND

($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value
($000s) T. Rowe Price Retirement 2060 Fund (Level 1 Level 2 Level 3 Total Value

87

T. ROWE PRICE RETIREMENT 2060 FUND

out only on the exchange or clearinghouse where the contracts were cleared. This ability
Total Securities 1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act of 1934, 1935, and 1936, respectively. The fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act[{"box_2d": [30, 105, 609, 210], "label": "text", "[{"box_2d": [30, 105, 609, 210], "label": "text", "

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act

1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures
carried under the Act[{"box_2d": [30, 105, 609, 210], "label": "text", "caption": "1,496,711 1,984 1,497,695
Futures: The fair value of derivative instruments against the right to reclaim or obligation
to return collateral. The following table summarizes the fair value of the fund's futures

T. ROWE PRICE RETIREMENT 2060 FUND

At November 30, 2022, the cost of investments (including derivatives, if any) for federal
Assets
(Note: This is not to be construed as a "funding of the funds") and is not to be construed as a "funding of the funds".
Equity derivatives
(Note: This is not to be construed as a "funding of the funds") and is not to be construed as a "funding of the funds".
Equity derivatives
(Note: This is not to be construed as a "funding of the funds") and is not to be construed as a "funding of the funds".
Equity derivatives
(Note: This is not to be construed as a "funding of the funds") and is not to be construed as a "funding of the funds".
Equity derivatives
(Note: This is not to be construed as a "funding of the funds") and is not to be construed as a "funding of the funds".

89

T. ROWE PRICE RETIREMENT 2060 FUND

The fund may invest in the T. Rowe Price Transition Fund (Transition Fund) to

**RECORDS**  

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

**NOTE** The fund may be used in the T. Rowe Price Transition Fund (Transition Fund) to

90

T. ROWE PRICE RETIREMENT 2060 FUND

# INFORMATION ON PROXY VOTING POLICIES, PROCEDURES, AND

corporate website. To access it, please visit the following Web page:

Investments: both remain in the fund's assets. While typically not sold in the same
unit, companies with a fixed financial position within the Investment Company Act
for the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company

91

T. ROWE PRICE RETIREMENT 2060 FUND

# **LIQUIDITY RISK MANAGEMENT PROGRAM**

shown above, and scroll down to the section near the bottom of the page that says
administrator, the Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible for overseeing the day-to-day operations of the
T. ROWE PRICE RETIREMENT 2060 FUND. The Adviser is responsible

92

T. ROWE PRICE RETIREMENT 2060 FUND

# **LIQUIDITY RISK MANAGEMENT PROGRAM (CONTINUED)**

Approximately the SEC's website (see text) in addition, most T. Rowe Price funds. The LRC's website (see text) in addition, most T. Rowe Price funds. This will be issued to the LRC's management system. The LRC's management system also includes the LRC's management system. The LRC's management system includes the LRC's management system. The LRC's management system includes the LRC's management system. The LRC's management system includes the LRC's management system.

reflect the LRC's assessment of their relative liquidity under current market conditions.

Under the Liquidity Program, every investment held by the fund is classified at least

![img-0.jpeg](img-0.jpeg)

93

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

Item 2. Code of Ethics.

A code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as an exhibit to the registrant's annual Form N-CSR. No code of ethics is required to be approved or waivers were granted to this code of ethics during the registrant's move. The following: The registrant's annual Form N-CSR is submitted for review and the current market conditions without

Item 3. The following: The registrant's annual Form N-CSR is submitted for review and the current market conditions without

Disclosure. As required by the Liquidity Rule, as a meeting held on July 25, 2022, the Board was

presented with an annual assessment prepared by the LRC, on behalf of the Adviser,

Item 4. Principal Accountant Fees and Services. Whereas you want to pay away more money for retirement, for a credit, education, or

Disclosure, you must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money for retirement. You must pay any amount of money

the investment goals that are important to you. Liquid Investment Minimum (HCM). The

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a) Not applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There has been no change to the procedures by which shareholders may recommend nominees to the registrant's board of directors.

T. Rowe Price Investment Services, Inc. | 100 East Pratt Street | Baltimore, MD 21202-1009

# **Item 11. Controls and Procedures.**

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable. For example, for an open-end form, the extent to which the registrant is not completely

for an open-end form, the extent to which the registrant is not completely

**Item 13. Exhibits.**

(a) The registrant's role of which presumes the registrant's principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(3) Written solicitation to repurchase securities issued by closed-end companies: not applicable.

(b) A certification by the registrant's principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached.

# SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

T. Rowe Price Retirement Funds, Inc.

By [Signature] David Oestreicher
Chairman and Chief Financial Officer
Chairman and Chief Financial Officer
T. Rowe Price
Date [Date] Active in the period 1
for online investing
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the securities and to the firm authorized.

By [Signature] David Oestreicher
David Oestreicher
Principal Executive Officer

Date January 19, 2023

By [Signature] Alan S. Dupski
Alan S. Dupski
Principal Financial Officer

Date January 19, 2023

Visit troweprice.com/broadrange

*Call 1-800-225-5132 to request a prospectus or summary prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.*

All mutual funds are subject to market risk, including possible loss of principal. Investing internationally involves special risks including economic and political uncertainty and currency fluctuation.

$^{1}$ The T. Rowe Price $^{1}$ ActivePlus Portfolios is a discretionary investment management program provided by

T. Rowe Price Advisory Services, Inc., a registered investment adviser under the Investment Advisers Act of 1940. Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC. T. Rowe Price Advisory Services, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies.

$^{2}$ Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC.

P144-051 1/23

## Ex-99.Cert

**Item 13. (a)(2)** 

**<u>CERTIFICATIONS</u>**

I, David Oestreicher, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price
Retirement 2060 Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: January 19, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |

---

------

**<u>CERTIFICATIONS</u>**

I, Alan S. Dupski, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price
Retirement 2060 Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: January 19, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

---

## Exhibit 99.906

**Item 13. (b)** 

---

| | |
|:---|:---|
| **CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002** | **CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002** |
| Name of Issuer: T. Rowe Price Retirement 2060 Fund | Name of Issuer: T. Rowe Price Retirement 2060 Fund |
| In connection with the Report on Form N-CSR for the above named Issuer, the undersigned hereby certifies, to the best of his knowledge, that: | In connection with the Report on Form N-CSR for the above named Issuer, the undersigned hereby certifies, to the best of his knowledge, that: |
| 1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; | 1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; |
| 2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer. | 2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer. |
| Date: January 19, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |
| Date: January 19, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

---