Schwab Expands Student Loan Matching, Debt Management and College Planning Resources in Collaboration With Candidly

Schwab Retirement Plan Services (SRPS) today announced expanded student loan and college planning resources available to 401(k) plan participants through an agreement with Candidly, a leading student loan and education benefits platform.

The collaboration includes participant access to Candidly Core, a suite of tools and resources designed to help employees optimize their repayment strategy and save significant time and money as they work toward eliminating student loan debt. Candidly Core also offers college planning resources, including a 529 plan finder and calculators to help with decision making. Through an integrated online experience, participants have one-click access to Candidly resources directly from the SRPS participant website.

Expanded Student Loan Retirement Matching Capabilities

Schwab and Candidly are also offering an integrated solution for employers implementing a student loan retirement match for their 401(k) plans as allowed by the SECURE 2.0 Act. Through this collaboration, Candidly verifies that participants have properly completed the self-certification process, which allows them to confirm their qualified student loan payments, and provides that information to SRPS, which can then calculate the employer match and fulfill the contributions.

“As we continue to expand overall financial wellness offerings for clients, we’re very pleased to be working with Candidly to help employees and employers navigate student loan debt and college planning,” said Lee McAdoo, Managing Director, Schwab Retirement Plan Services. “Our clients who are evaluating student loan retirement matching can see value in Candidly’s independent reporting, which gives them the visibility, confidence, and support they need to offer this powerful benefit.”

SRPS plan sponsor clients can also leverage Candidly’s detailed analysis and reporting capabilities to determine how many of their employees are carrying student loan debt. This can help them better understand the impact student loan retirement matching could have on their overall benefits program, as well as the increased 401(k) plan participation that may result.

“By integrating Candidly’s technology with Schwab Retirement Plan Services’ capabilities, we’re helping employers transform student debt from a financial barrier into a bridge to retirement security,” said Laurel Taylor, Founder and CEO of Candidly. “The SECURE 2.0 provisions create an unprecedented opportunity to tackle two critical financial challenges simultaneously – student debt and retirement readiness. Together with Schwab Retirement Plan Services, we’re delivering on our promise to create pathways from debt to opportunity for plan participants.”

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 X, Facebook, YouTube and LinkedIn.

Disclosures

The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: 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 Trust Bank, Member of FDIC. Brokerage products and services are offered by Charles Schwab & Co., Inc. (Member SIPC, www.sipc.org). Schwab Retirement Plan Services, Inc. is not a fiduciary to retirement plans or participants and only provides recordkeeping and related services.

“We,” “us,” and “our” refer to Schwab Retirement Plan Services, Inc.

Candidly is not affiliated with Schwab Retirement Plan Services, Inc. or its affiliates.

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