Charles Schwab provides 401(k) plans to employees as part of a benefits package, as the company claims. The company makes contributions to its 401(k) plans.
For every $1 that an employee contributes, Schwab contributes $2 until it contributes a total of $250, then it matches every dollar that the employee contributes, up to five percent of the eligible compensation. Employees can make pre-tax or Roth contributions and benefit from a variety of investments, as stated by Charles Schwab.
Guidance is provided to employees either online or over the phone to assist in investments and meeting financial goals. Schwab states that it is committed to providing ethical and intelligent investment advice to employees.