Products June 15, 2006
Schwab Offers Auto Plan Feature Suite
June 15, 2006 (PLANSPONSOR.com) - Plan sponsors at
Charles Schwab can add a variety of automatic plan features
to their retirement program to, among other things, beef up
their enrollment performance.
Reported by Fred Schneyer
A news release said that the suite of services, Schwab Retirement Smart Steps, includes automatic enrollment, automatic savings increases, automatic investment selection and automatic mapping of new plans. Employees always have the option to opt out and make their own choices.
According to the announcement, the suite’s components include:
- Automatic enrollment
- Automatic savings increases
- Automatic investment selection
- Automatic mapping Defaulting all participants at once into investments that the plan sponsor selects, such as age-based target-date retirement funds, when the plan moves to Schwab.This option directs the investments of all participants into target-date retirement funds based on each participant’s age.
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