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Personal Choice Retirement Account

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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

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.