Employers Back 401(k) as Vital Retirement Savings Tool According to New Study from CFO Research and Charles Schwab

Business Wire, June 22, 2009

“Consistent with what we are seeing among our own plan sponsor clients, the employers participating in the study and their employees have a very level-headed approach to the 401(k) despite market turmoil,” added Anderson. “Employers believe that the 401(k) will continue to be one of the most important tools people have at their disposal to save for retirement.”

The full study is available at http://www.aboutschwab.com/press/research/index.html.

About “Getting Retirement Savings Back on Track: Employer Views on the 401(k) and Financial Educations in the Workplace”

In March and April 2009, CFO Research Services conducted an online survey and gathered a total of 219 responses from senior finance and human resources executives at companies ranging from $100 million to more than $10 billion in revenue. Respondents work for companies in a broad cross-section of industries, with the manufacturing and wholesale/retail trade industries particularly well represented. More than half of the respondents worked for companies with more than 1,000 employees eligible for participation in their 401(k) plans.

About CFO Research

CFO Research Services is the sponsored research group within CFO Publishing Corporation, which produces CFO magazine. CFO Publishing is part of The Economist Group. CFO Research Services is not affiliated with Charles Schwab & Co., Inc.

About Charles Schwab

The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.5 million client brokerage accounts, 1.5 million corporate retirement plan participants, 567,000 banking accounts, and $1.2 trillion in client assets as of May 31, 2009. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services business segment. The Charles Schwab Bank (member FDIC) provides banking and lending services and products. More information is available at www.schwab.com. (0609-9577)

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