Apple Inc. is creating a lot of buzz today in the retirement and exchange-traded product space but not because of a new product launch. The company is shifting its entire retirement plan portfolio to ETFs, reports Employee Benefit News, a sister publication of Money Management Executive.
The company’s recordkeeper, Charles Schwab, is still developing a version of Schwab Index Advantage that will use only index-based ETFs. The platform is expected in 2013.
An Apple spokesperson was not immediately available for comments on the planned portfolio switch. Lindsay Tiles, a Schwab spokesperson, was also not available for comments.