Schwab Expands Participant Account Management Tools

June 2, 2004 ( - Plan sponsor clients of Charles Schwab Corporate Services will have several new online enhancements to help participants more easily manage their retirement accounts.

Those new tools include scheduled rebalancing, a paycheck calculator and an on-demand statement summary offer participants convenient new online functionality that helps them make informed decisions regarding their financial future, according to the firm.

  • The rebalancing tool enables participants to set their desired asset allocation and have their account automatically rebalanced to align with that asset allocation. The rebalance can be scheduled on a semi-annual or annual basis.
  • The online paycheck calculator allows participants to calculate how different contribution rates can affect their take-home pay prior to setting or revising the contribution rate. It can also help participants better understand and appreciate the pre-tax savings benefits of their retirement plan.
  • New online statement summaries enable participants to create on-demand account statements and view account value, contribution amounts, transfers and gain/loss information. Participants have the flexibility to customize the date range of the summary as well as the investments to be displayed, according to Schwab.