Schwab To Offer 403(b) Option

November 30, 2000 ( - Schwab is adding a 403(b) account option for individuals who are employed by tax-exempt charitable, educational and religious institutions.

The Schwab 403 (b)(7) Account will offer access to more than 2,000 mutual funds, while allowing 403(b) plan participants to transfer balances from an existing 403(b) account.

Individuals who transfer their accounts to Schwab can continue making payroll deductions into their original 403(b) account, and make subsequent asset transfers to their new Schwab 403(b)(7) account.