Personal Choice Retirement Account
With a Schwab Personal Choice Retirement Account® (PCRA), you can invest in a retirement plan with the freedom of a brokerage account.
What is it?
A Schwab PCRA is a self-directed brokerage account (SDBA) that resides within your employer-sponsored retirement plan. In addition to the choices typically offered by retirement plans, PCRA lets you invest in a much wider range of investments.
How it works:
- Your retirement plan provider must offer PCRA as part of your retirement plan in order for you to open an account.
- Your employer will determine if your retirement plan's investment selection for PCRA includes only mutual funds or most available investments.
- You decide how much money to transfer from your retirement plan into your PCRA.
- You can invest your PCRA assets in any type of investment allowed by your retirement plan.
Who would benefit from a PCRA?
A PCRA is appropriate for knowledgeable, experienced investors who:
- Are seeking a wider range of investments
- Can dedicate more time to managing their investments
- Are comfortable making more of their own investing decisions
Schwab is restricted from providing advice on PCRAs; however, your retirement plan may allow you to appoint an independent advisor.
Benefits of a PCRA
A PCRA may be able to help you meet your retirement investment objectives:
- More investment choices. Select from thousands of investments available through Schwab, depending on what your retirement plan allows.
- Premium research and tools. Find the right investments for you with Schwab's industry-leading resources.
- Flexibility to invest your way. Place trade orders on your own or with help from Schwab.
Fees and requirements
- Schwab does not charge you a fee for PCRA.
- Your retirement plan provider may charge an account maintenance fee.
- Transaction fees and commissions apply. See the Charles Schwab Pricing Guide for Retirement Plan Accounts and the PCRA Pricing Summary for details.
- Your PCRA cannot be included with your other household accounts at Schwab.
Take the next step.
If your provider offers a PCRA as part of your retirement plan, you can open your PCRA online. Contact your employer’s benefits department to request PCRA enrollment materials.
Open your PCRA or call 888-393-7272.
- See all Schwab accounts.
- Request a prospectus by calling 888-393-7272.