What is PCRA?
The Schwab Personal Choice Retirement Account® (PCRA) is a self-directed brokerage account designed for sophisticated investors who have a good understanding of the stock market and general knowledge of investment principles. PCRA gives you a broader range of investment choices than those offered in your retirement plan.

Keep in mind that since PCRA is an optional account, Schwab charges you a fee for opening and maintaining a PCRA. PCRA investments may have initial and subsequent investment minimums depending on the investment you choose. For more information on charges and minimums you can contact a Schwab PCRA Representative at 1-888-393-7272.

Many of the mutual funds offered through PCRA are available with no load and no transaction fees. Other funds may have a transaction fee (or a load). Please refer to the fund prospectus for more information before investing or transferring money.*

* A contingent redemption fee is another type of fee that some funds charge their shareholders when the shareholders redeem their shares within a specified period of time. The fee is meant to discourage short term trading. Although a redemption fee is deducted from redemption proceeds just like a deferred sales load, it is not considered to be a sales load. Unlike a sales load, which is generally used to pay brokers, a redemption fee is typically used to defray fund costs associated with a shareholder's redemption and is paid directly to the fund, not to a broker.