Expense Ratio History

PAZLX expense ratio history

T. Rowe Price Target 2065 Fund, T. Rowe Price Target 2065 Fund-Advisor Class

Fund company
T. Rowe Price
Type
Mutual fund

0.89%

In basis points
89 basis points
Yearly cost per $10,000
$89
Prospectus dated
1 August 2025, filed with the SEC; rounded to 0.01%

Fee over time

PAZLX expense ratio: read at 0.89% on 1 Aug 2025.0.00%0.50%1.00%1.50%May 2021Feb 2022Nov 2022Aug 2023May 2024Feb 20250.89% on 1 Aug 2025
PAZLX expense ratio: read at 0.89% on 1 Aug 2025.0.00%0.50%1.00%1.50%May 2021Nov 2022May 20240.89% on 1 Aug 2025
Each dot is a prospectus filed with the SEC or a date we read the fee from a source. The fee hasn't changed between them.

Share classes

The same fund is sold as 3 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
PAZLX (this page) T. Rowe Price Target 2065 Fund-Advisor Class 0.89% — 1 Aug 2025
RPFDX T. Rowe Price Target 2065 Fund-I Class 0.46% — 1 Aug 2025
PRSLX T. Rowe Price Target 2065 Fund 0.64% — 1 Aug 2025

Every figure we've recorded

DateFeeWhat happened
1 Aug 2025 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-08-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Aug 2024 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-08-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2023 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2022 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2021 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
24 May 2021 0.89% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-05-24 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 0.89% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,100 in fees over 10 years

After fees, $10,000 grows to $14,928.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$91
3 years$285
5 years$495
10 years$1,100

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 6 prospectuses for this share class since 2021. Each one is listed above with a link to the filing.

How we read fees

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