Schwab Clients Earn Eight PSCA Awards Including a Best In Show
SAN FRANCISCO, CA, September 29, 2005 -- Schwab Corporate Services clients have earned eight 2005 Signature Awards from the Profit Sharing/401k Council of America (PSCA), more than any other provider's clients. The awards, which honor excellence in retirement plan communication and investment education, were announced September 21 at the PSCA annual conference in San Diego.
Karsten Manufacturing Corporation, maker of Ping® golf clubs, earned four Signature Awards, including Best in Show for companies with less than 5,000 employees. Karsten also won awards for increasing participation, language diversity and plan conversion. "When we came to Schwab last year, we had several key objectives for our retirement plan, including reaching our diverse base of employees, many of whom speak Vietnamese, Cambodian or Spanish as a first language. Schwab partnered with us from the very beginning to deliver on all of our goals, and then some. We're very pleased with the results and are thrilled to be recognized by the PSCA for our efforts in helping our participants plan and save for retirement," said Mike Trueblood, chief financial officer, Karsten.
Another winner, Basic American Foods, took home an award for increasing deferrals. "We are delighted to be recognized for effectively improving savings rates among our participants. We were able to increase plan deferral rates by encouraging our employees to take advantage of Schwab's advice services and managed account services. As a result, average deferral rates increased by 3.9 percentage points, which is tremendous," said Sally Smedal, treasurer, Basic American Foods. "Schwab's Personal Retirement Planning is really the way to go because it answers employees' key questions about how much to save and where to invest, helping them get to and through a comfortable retirement."
Additional client awards included two in the increasing participation category and one in the complete campaign category.
By sponsoring the Signature Awards competition, PSCA encourages the sharing of communication ideas and rewards excellence in profit sharing and 401k plan communication and investment education. The competition also provides plan sponsors with outside, objective recognition of the efforts of their company and their staffs.
"These awards recognize the measurable achievements of our clients in different industries facing different challenges," said Trish Cox, chief operating officer, Schwab Retirement Plan Services. "We focus on developing strong relationships with our clients and building solutions together to help their participants. The power of that approach is clear, and we are proud to have played a part in these results."
About Schwab Corporate Services
Schwab Corporate Services (SCS) provides services to retirement plans, retirement plan sponsors and participants through Schwab Retirement Plan Services, Inc. (SRPS), The Charles Schwab Trust Company (CSTC), Schwab Retirement Technologies®, and Charles Schwab & Co., Inc. SCS also provides equity compensation plan services and other financial and retirement services to corporations and executives. SRPS provides recordkeeping and related services with respect to retirement plans.
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