Schwab Introduces Participant Retirement Tool for Clients of Third Party Administrators
August 09 2005 - 12:00PM
PR Newswire (US)
SAN FRANCISCO, Aug. 9 /PRNewswire-FirstCall/ -- Schwab Corporate
Services is making its popular rate-of-return analysis tool
available to Third Party Administrators (TPAs) and their plan
sponsor clients who use the Schwab Retirement Technologies(R) web
application. The tool provides retirement plan participants with
easy-to-read charts and graphs detailing the investment performance
of their entire account portfolio, as well as each investment in
the account. Because the rate-of-return data is based on the
performance of participants' personal portfolios, the tool provides
meaningful information they can use to make timely decisions. A
joint enterprise between Schwab Retirement Technologies(R) and
dailyVest, a third-party software development firm, the
rate-of-return analysis tool has also been available to Schwab
Corporate Services' bundled retirement plan clients since 2003.
"This tool will enable TPAs to provide clients with highly
personalized rate-of-return information in a format that is easy to
navigate and understand," said Mark Coffrini, senior vice president
of Schwab Corporate Services. "Retirement plan participants are
looking for new and better ways to manage their investments, and we
anticipate that the addition of this technology to the Schwab
Retirement Technologies web application will be extremely well
received by our TPAs' clients." The rate-of-return tool offers a
variety of views for the participant's total positions and
individual investments over selected time periods. The key
information is depicted both as a table and a bar chart for greater
ease of use. Some of the other key features of the rate-of-return
tool include: -- The Net Investment vs. Market Value chart
illustrates investment performance over time and the corresponding
market value fluctuations of those investments. -- The Cumulative
Returns chart reflects performance for the participant's total
positions, a portfolio or a specific investment. -- The Account
Activity Summary table displays the beginning market value, changes
in market value grouped within activity types, and the ending
market value of the account. About Schwab Corporate Services Schwab
Corporate Services (SCS) provides services to retirement plans,
retirement plan sponsors and participants through Schwab Retirement
Plan Services, Inc. (SRPS), The Charles Schwab Trust Company
(CSTC), Schwab Retirement Technologies(R), and Charles Schwab &
Co., Inc. SCS also provides equity compensation plan services and
other financial and retirement services to corporations and
executives. SRPS provides recordkeeping and related services with
respect to retirement plans. CSTC, a California state-chartered
trust company, provides trust and custody services with respect to
benefit plans. Schwab Retirement Technologies is engaged in
developing and licensing proprietary retirement plan recordkeeping
systems to independent Third Party Administrators. Charles Schwab
& Co., Inc. (Member SIPC) is a registered broker/dealer,
offering the Schwab Personal Choice Retirement Account(R) (PCRA),
as well as other brokerage and custody services to its customers.
These entities are affiliates and are wholly owned subsidiaries of
The Charles Schwab Corporation. Total client assets in
employer-sponsored retirement plans at Schwab equaled $133 billion
at the end of June 2005. The Charles Schwab Corporation (NYSE /
Nasdaq: SCH), through Charles Schwab & Co., Inc. (member SIPC),
U.S. Trust Corporation (member FDIC), CyberTrader(R), Inc. (member
SIPC) and its other operating subsidiaries, is one of the nation's
largest financial services firms. About dailyVest dailyVest, The
Personal Rate of Return Company focuses on helping financial
institutions leverage their investor's account history through the
use of engaging and interactive tools for displaying performance
measurement on account access websites and statements. For more
information, visit dailyVest at http://www.dailyvest.com/.
(0805-8675) DATASOURCE: Charles Schwab CONTACT: Lindsay Tiles of
Charles Schwab, +1-415-667-3997, or Web site:
http://www.schwab.com/
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