Choose Your Investments
Schwab Personal Choice Retirement Account® (PCRA)

If you prefer to determine your own investment direction using the widest array of investment choices, PCRA may be the right savings style for you. PCRA is for those investors who are diligent about managing and monitoring their investments on a regular basis.

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.

How PCRA Works

Complete all forms required by your employer to open this account.

  • Complete the online PCRA Account Application located on after you have enrolled in the HRSP.
  • Once your PCRA is approved and opened, transfer funds from your existing investments into your PCRA.
  • You can place trade orders in your PCRA as often as you like – online through or by calling a Schwab PCRA representative at

For participants who utilize the Personal Choice Retirement Account (PCRA), the following fees and conditions may apply: Schwab’s short-term redemption fee of $49.95 will be charged on redemption of funds purchased through Schwab’s Mutual Fund OneSource® service (and certain other funds with no transaction fee) and held for 90 days or less. Schwab reserves the right to exempt certain funds from this fee, including Schwab Funds®, which may charge a separate redemption fee, and funds that accommodate short-term trading.

Trades in no-load mutual funds available through Mutual Funds OneSource service (including Schwab Funds) as well as certain other funds, are available without transaction fees when placed through or our automated phone channels. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses.

Charles Schwab & Co., Inc., member SIPC, receives remuneration from fund companies for record keeping, shareholder services and other administrative services for shares purchased through its Mutual Fund OneSource service. Schwab also may receive remuneration from transaction fee fund companies for certain administrative services.

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