Products June 2, 2004
Schwab Expands Participant Account Management Tools
June 2, 2004 (PLANSPONSOR.com) - Plan sponsor
clients of Charles Schwab Corporate Services will have
several new online enhancements to help participants more
easily manage their retirement accounts.
Reported by Nevin E. Adams
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.