Schwab restores match.(Frills are Back)(Charles Schwab & Company Inc.)(Brief Article)

Research,  February, 2004  by Martin, Robert Scott

Tags: Charles Schwab & Co. Inc.

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IN ANOTHER SIGN that Charles Schwab's yearlong austerity program has run its course, the discount giant has gone back to matching employee 401(k) contributions.

An open letter from CEO David Pottruck broke the news to the firm's 16,200-member workforce by calling the matching program (two-for-one for the first $250 contributed, and then one-for-one up to 5 percent of gross salary) a symbol of Schwab's "mission to help investors achieve their financial dreams."

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Doing away with the match ...

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