Defined Contribution Pension Plan is 100% Vested and Portable!Contributions to your tax-deferred pension (401K) are, and always will be, controlled by you. Your pension follows you from contract to contract and can easily be rolled over.
Borrow money from your pension account and in effect pay yourself the interest! Loan payments are deducted from your payroll check, IProfessional handles all the paperwork. The loans principle and interest are paid back into your pension account. Why borrow money from a bank and pay the bank interest when you can borrow it from your pension account and pay the interest to your pension account?
Schwab PCRA Account
A Schwab PCRA (Personal Choice Retirement Account) is a self-directed brokerage account (SDBA) that resides within our employer-sponsored pension plan. In addition to the choices typically offered by retirement plans, PCRA includes a much wider range of investments.
Benefits of a PCRA
- More investment choices. Select from thousands of investments available through Schwab.
- 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.
How it works:
You decide how much money to transfer from your primary pension account into your PCRA. Once the funds are moved into your PCRA account you decide what investments to make. There are thousands of investment options including mutual funds, stocks, bonds and ETF’s.