Press Release

Schwab Retirement Plan Services Ranks #1 in J.D. Power U.S. Retirement Plan Digital Satisfaction Study for Second Year in a Row

Issued by Charles Schwab Corporation

Sept. 27, 2022

WESTLAKE, Texas--(BUSINESS WIRE)-- Schwab Retirement Plan Services, Inc. has earned the highest ranking in a tie in overall satisfaction in the J.D. Power 2022 U.S. Retirement Plan Digital Satisfaction Study and also ranked highest in last year’s study. In addition, Charles Schwab ranked highest in the large plan segment in the J.D. Power 2020 (tie) and 2019 U.S. Retirement Plan Participant Satisfaction Studies and the 2018 U.S. Group Retirement Satisfaction Study.

“Earning a top ranking in each of the past five years demonstrates our ongoing commitment to serving employers and their employees and shows the power of our ‘Through Clients’ Eyes’ strategy,” said Brian Bender, head of Schwab Retirement Plan Services. “Workers have been relying heavily on digital channels to engage with us over the past two-plus years, which makes this ranking even more meaningful.”

With an overall satisfaction score of 704 out of 1000, Schwab Retirement Plan Services had the highest score in a tie and scored 41 points above the industry average. In addition to the highest overall satisfaction score, Schwab Retirement Plan Services also had the highest score in the following study factors contributing to overall satisfaction:

• Navigation
• Information/Content (including Account Overview, Account Management and Reviewing Investment Performance)

“Our continual investments in the client experience are participant-driven and developed in close partnership with our colleagues in Schwab Digital Services. It’s gratifying to know we are delivering the right mix of digital resources and human support to meet the needs of plan participants,” said Bender.

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

Disclosures

Outcomes are not guaranteed.

Schwab Retirement Plan Services, Inc. received the highest numerical score in the J.D. Power 2022 (tie) and 2021 U.S. Retirement Plan Digital Satisfaction Studies. Charles Schwab also received the highest numerical score in the Large Plan segment in the J.D. Power 2020 (tie) and 2019 U.S. Retirement Plan Participant Satisfaction Studies and the 2018 U.S. Group Retirement Satisfaction Study of participants’ satisfaction with their retirement plan provider. Your experiences may vary. Visit jdpower.com/awards. “Charles Schwab” refers to Charles Schwab & Co., Inc. for purposes of the 2018, 2019, and 2020 awards.

The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Bank, SSB; Charles Schwab Trust Bank; Charles Schwab & Co., Inc.; and Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are available through Charles Schwab Bank, SSB and Charles Schwab Trust Bank, Members of FDIC. Schwab Retirement Plan Services, Inc. is not a fiduciary to retirement plans or participants and only provides recordkeeping and related services.

Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) 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; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

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