The 22-year-old missed the first 10 days of training camp "awaiting" an extension, Rutherford reported, adding that the Blues and Schwartz's agent, Wade Arnott, had previously said they were focusing on a short-term deal.
Schwartz, a 2010 first-round pick, had 25 goals and 31 assists last season for the Blues, who lost in the first round of the Western Conference playoffs to the Blackhawks.
The third-year player has 34 goals, 38 assists and a plus-25 plus/minus in 132 career games.
St. Louis opens its regular season on Oct. 9 at home against the defending Eastern Conference-champion Rangers.
- Chris Mascaro