SAN FRANCISCO--(BUSINESS WIRE)--

Schwab Retirement Plan Services has been named the top 401(k) provider in the categories of loyalty and overall satisfaction in a survey by Boston Research Group, affirming its standing as a leading provider of 401(k) plan services.

Loyalty Rankings

Schwab, which serves plans with 1.5 million corporate retirement plan participants, received its number one ranking in loyalty by both employers sponsoring 401(k) plans and their employees. Among employers, Schwab scored 86 percent compared to the industry average of 75 percent. Employers measured loyalty against three key drivers: easy to do business with, resources to offer the best plan and partners effectively.

The loyalty gap between Schwab and its competitors was even wider among plan participants. Two-thirds (66%) of respondents said they would leave their money in the current plan with Schwab or rollover to a Charles Schwab & Co., Inc. IRA if they left the plan today, compared to an industry average of just 51 percent.

High Satisfaction Marks from Plan Participants

In the area of overall satisfaction, Schwab was given the highest mark of any provider by plan participants 46 percent, ten points above the industry norm. Schwabs score rose four percent in 2011 over its industry-leading mark in 2010. The factors that drove overall satisfaction with employees in plans serviced by Schwab include its investment experience and the participants experience when they engage with Schwab.

Schwab is committed to building strong relationships with employers who choose us to service their 401(k) plan, and to delivering an excellent experience to their employees, said Steve Anderson, head of retirement plan services at Schwab. The Boston Research Group study findings are an affirmation that our efforts are being recognized among the people whose opinions we value mostour clients.

Charles Schwab continues to be a leader in the retirement plan industry in the view of both employers and their employees, said Warren Cormier, president of Boston Research Group. We commend Schwab for engendering a very high level of loyalty and satisfaction among both groups.

About Charles Schwab

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Schwab Retirement Plan Services Earns Top Marks for Client Loyalty and Satisfaction in Independent Survey