RIC 457/401 Self-Directed Brokerage Accounts (SDBA)

Updated 1/29/19

 Self-directed brokerage accounts allow you to transfer a specified amount of your 457/401a investment dollars to an outside broker for investment in a large array of alternative mutual funds and individual securities (some exceptions).

AIG  Empower* Horace Mann Voya
Schwab PCRA
888-393-7272
Schwab PCRA 
800-743-5274 
TD Ameritrade
866-766-4015
TD Ameritrade
866-766-4015
Investments
Mutual funds 19,000+ 6,500+ 13,000+ 13,000+
No-transaction fee funds 1,000+ OneSource 3,200+ 3,000 4,500+
ETF's No Yes No Yes
Common Stocks Yes Yes No Yes
Fixed income securities Yes Yes No Yes
  Minimums
Core plan balance None $10,000 $10,000 Initial-$5,000
Ongoing-$2,500
Transfers None Initial-$5,000 
Ongoing-$1,000 
Initial-$2,500
Ongoing-$2,500
Initial-$2,500
Ongoing-$2,500
  Fees
Annual Maintenance $50 ($12.50/qtr) $50 None $50
Other Call SDBA for fee schedule Call SDBA for fee schedule Call SDBA for fee schedule Call SDBA for fee schedule
  Restrictions
SDBA maximum assets None 50% of core acc't value None 50% of core acc't value
# of transfers between core & SDBA Unlimited Unlimited Unlimited Unlimited

*Empower - formerly MassMutual Retirement