Charles Schwab Bank has added two funds to its collective trust fund lineup for eligible retirement plans—Schwab Managed Retirement Trust Fund 2055 and Schwab Indexed Retirement Trust Fund 2055—which offer target-date portfolios in a collective trust vehicle, diversified across traditional and nontraditional asset classes.

"These new funds are designed for young people who want an affordable, accessible solution for a more distant retirement," said Omar Aguilar, senior vice president and chief investment officer of equities for Charles Schwab Investment Management. "Whether you're investing in the funds directly or through an employer's retirement plan, they deliver broad asset allocation and ongoing professional investment management."

The Schwab Managed Retirement Trust Funds are available in four unit classes with all-in operating expense ratios starting at 0.45 percent. The Schwab Indexed Retirement Trust Funds are available in a single unit class with no investment minimums and an all-in operating expense ratio of 0.18 percent.