Opening a Schwab Personal Choice Retirement Account® ("PCRA")

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The ABA Retirement Fund Program’s PCRA option

The Schwab Personal Choice Retirement Account® ("PCRA") allows participants to invest their funds in a wide variety of publicly traded debt and equity securities, and shares of numerous mutual funds. The PCRA is established through a brokerage account with Charles Schwab & Co., Inc.

The PCRA option is available to participants whose plan sponsor allows it as an investment option in the plan.

How to open a PCRA

A PCRA application can be obtained within a participant's online retirement account by logging in through abaretirement.com.

To open a own PCRA:

1. Navigate to Investments & Research > Self-Directed Brokerage Account in the online account.
2. Follows the steps to complete the online PCRA Application. Please note: a participant will need to enroll in both a Non-Roth brokerage account and a Roth brokerage account in order to move money into a PCRA.
3. Click “Submit” to receive their new account number instantly on the screen. At this point they will be automatically re-directed to Schwab.com.
4. Once on Schwab.com, click “First Time Users” (under “LOG IN”) to set up their PCRA for online access. they will need to input your new PCRA number, date of birth, phone number and Social Security Number for this step.
5. Begin researching investment opportunities - the PCRA is now ready to be funded.
6. Be on the lookout for welcome materials from Schwab - they will receive them in a few days.

Important notes on PCRAs

PCRA participants receive a monthly statement from Schwab. Note that the total PCRA assets as of the end of the calendar quarter are also included in the participant’s quarterly statement from the Program. Account information is also updated daily so that balances online and through the Customer Service Center are inclusive of PCRA assets.

Please note that participants may not choose to invest more than 95% of their contributions to an PCRA, and must retain at least $2,500 in the Program investment option(s) at all times.

Please note that Roth 401(k) contributions and earnings cannot be commingled with other plan assets, so a separate PCRA will need to be established solely for Roth 401(k) assets. See the Transferring Funds page for more information.

Schwab Personal Choice Retirement Account® ("PCRA") is offered through Charles Schwab & Co., Inc. (Member SIPC), the registered broker/dealer, which also provides other brokerage and custody services to its customers.

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