Charles Schwab is planning on launching three new target year funds-of-funds, according to an SEC filing.

The San Francisco-based firm is targeting a February 2008 launch for the new offerings -- the Schwab Target 2015, 2025 and 2035 funds.

Pat Waters, director of retirement investment products at Charles Schwab Investment Management said that while the expenses are not yet set, they will be in the range of the current target date funds' expenses, which is between 89 bps and 92 bps.

All funds used in the target date funds will be Schwab's proprietary funds.

Schwab already offers target-date funds maturing in 2010, 2020, 2030 and 2040.  

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