Personal Defined Benefit Plan

Schwab's Personal Defined Benefit Plan helps self-employed and small business owners save aggressively for retirement by allowing you to make very high contributions. Just target a desired level of retirement income, and contribution amounts are adjusted each year to help you reach your goal.

Overview

  • What are the fees and commissions?

    • Variable fees starting at $1,500 for setup, plus annual service fees
    • Commissions: $0 per online trade1; $0 per Schwab ETF online trade in your Schwab account2

    There are no fees to open or maintain your account.  Other fees may apply; please see Account Pricing.

  • What do I get with this defined benefit account?

    Every Schwab account comes with one-on-one investment help and guidance. With this plan, you’ll also get:

    • A customized funding proposal
    • High contributions that are generally 100% tax-deductible, within IRS limits. 
    • A predetermined benefit at retirement
    • Expert recordkeeping and plan service
    • Retirement planning tools and resources

Account Pricing

Account Prices

The following fees apply to the Schwab Personal Defined Benefit Plan:

  • Variable fees based on the total number of participants, starting at $1,500 for one person
  • Annual service fees based on the total number of participants, starting at $1,500 for one person
  • Plan termination fees
  • Trade commissions: $0 per online trade;1 $0 per Schwab ETF online trade in your Schwab account2
Type of Business One person only  Key employees only*  Employers with staff*
Starting a new Schwab Personal Defined Benefit Plan Setup fee: $1,500 Setup fee: $1,750 Setup fee: $1,750 + $200 per participant
Annual service fee: $1,500 Annual service fee: $1,750 Annual service fee: $1,750 + $200 per participant

*A key employee is defined as an employee who is at least a 5% owner or who is a 1% owner with annual compensation of $170,000 or more. Staff are any employees who are not key employees.

Find out more about our fees and minimums.


Related Questions

Have questions about our Personal Defined Benefit Plan? Here are responses to some of the most common questions we hear. If you have a specific question that’s not answered here, please call us at 800-435-4000.


Establish Your Plan

Our dedicated team of actuaries will design a detailed customized funding proposal to give you the information you need to decide if this plan is right for you. Next, Schwab will contact you to review your proposal and work with you to establish your account. Follow these instructions to receive your complimentary funding proposal. Need help? Call 800-435-4000.

  1. Download and read the Schwab Personal Defined Benefit Plan fact sheet.
  2. Download and read our Q&A Guide.
  3. Download, print, and fill out the Funding Proposal Worksheet.
  4. Return your completed Schwab Personal Defined Benefit Plan Funding Proposal Worksheet to Schwab.

    Schwab Personal Defined Benefit Department
    Charles Schwab & Co., Inc.
    P.O. Box 407
    Richfield, OH 44286-0407
    Fax: 800-977-8814

Contact

  • Take the next step.

    Open a Personal Defined Benefit Plan today. Get detailed instructions above in Establish Your Plan.

    Or call 800-435-4000 to speak with a Schwab investment professional.

    See all Schwab accounts