Schwab Retirement Plan Services already serves 1.5 million workers saving for retirement, but hopes that its new Schwab Index Advantage service will increase participation even more by demystifying the 401(K) saving process.

The new service gives 401(k) plan participants access to index mutual funds with low operating expenses, as an alternative to more expensive actively managed funds typically found in most 401(k) plans. Participants who want knowledgeable, professional advice to get started will have access to a low-cost independent advisory service that develops a savings and investment program with the goal of increasing savings for individuals at retirement.

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