Schwab offers a variety of retirement plans according to employer and employee needs and desires, including Schwab Index Advantage and traditional 401(k) plans. Schwab also offers other types of defined-contribution and defined-benefit plans geared to integrate with 401(k) plans of any type.
The Index Advantage plan combines low-cost index funds and savings strategies designed according to individual needs. Plan members can choose between two managed-account service providers that provide investment advice services throughout the life of the plan. The goal is to serve both the employees' financial needs and help employers offer options that help attract and keep the best employees for the good of the company.
Schwab also offers traditional 401(k) plans that feature an open-architecture system, letting employers craft plans that are most suitable for their needs and the financial future of their employees. Employers can choose from more than 11,000 funds from over 600 providers. This can help an employer take into account the diverse needs of all its workers, even in the largest companies. Schwab's service team delivers advice not only on current plans but also helps to make necessary adjustments as a business grows and changes. Such advice helps participants develop and maintain much more successful financial portfolios, research has shown.