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Schwab Offers New Funds For Retirement Market

Charles Schwab said last Thursday it has launched four new funds as part of its new investment program, Schwab Retirement Solutions, a plan implemented to address the diverse needs of retirement plan participants.

The program includes four professionally managed trust funds that serve as target retirement fund portfolios. Schwab said it would use multiple investment approaches in order to place investors in either a professionally managed account or an employee-managed account.

"Participant choice and education are at the center of our retirement plan philosophy," said Ben Brigeman, president at Schwab's corporate services division.

The new funds are sub-advised by PIMCO, Dodge & Cox, Goldman Sachs, Invesco and Bank of Ireland. Cooley, Godward LLP, a national law firm, recently added the new funds to its 401(k) plan, the company said.

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