Kaiser Permanente · SCPMG · Schwab PCRA

Kaiser Physicians Have One of the Best Retirement Plans in Medicine.
Two Details Determine How Much You Actually Keep.

SCPMG's Keogh plan allows contributions up to $72,000 per year — among the highest in Los Angeles physician employment. The Keogh's PCRA brokerage window at Schwab is also one of the few employer plans where an outside adviser can manage your assets while you're still employed. The two things that matter most: getting the Keogh contribution election right, and knowing what to do with the PCRA.

SCPMG Keogh PCRA at Schwab $72,000 Combined Limit Managed While Employed Fee-Only · Fiduciary
Schedule a Free Call See the full plan breakdown
One unique advantage: Qubera can manage your Kaiser accounts while you're employed

Most employer retirement plans do not allow outside advisers to manage assets while the physician is still employed. Kaiser Permanente's PCRA brokerage window at Schwab is an exception. Once you open the PCRA within your Keogh, Qubera can manage it on a discretionary basis — giving you institutional-quality investment management inside your employer plan, not just a blueprint to implement yourself.

2026 contribution limits

What Kaiser Permanente SCPMG physicians can save in 2026

The Keogh ceiling is among the highest available to any employed physician in Los Angeles. Combined with Backdoor Roth IRAs, total household tax-advantaged contributions can exceed $165,000 per year for a dual-physician family.

$72,000
IRC 415(c) total Keogh ceiling (2026)
PCRA
Schwab brokerage window — manageable by outside adviser
$7,500
Backdoor Roth IRA per spouse (+ $1,000 catch-up at 50+)
Rolls
Keogh rolls to IRA at separation — no distribution election trap
SCPMG Keogh

Keogh — up to $72,000 total, contribution election matters

Kaiser Permanente SCPMG physicians participate in the SCPMG Keogh, a defined contribution plan that allows combined contributions (employer + employee) up to the IRC 415(c) annual additions limit of $72,000 for 2026. The contribution percentage you elect is applied to compensation. This election is typically set annually but is not easily adjusted mid-year.

Getting the election right at the start of each plan year matters. Under-electing means you leave pre-tax contribution room on the table — a real cost at a combined 46%+ marginal rate. Over-electing can create cash flow strain. We model the right election based on your expected compensation, personal cash flow needs, and whether you have additional income sources (e.g., private practice, speaking, consulting).

PCRA Brokerage Window

PCRA at Schwab — the highest-value feature most SCPMG physicians underuse

The Personal Choice Retirement Account (PCRA) is a self-directed brokerage window within your Keogh, held at Charles Schwab. Unlike the standard Keogh fund menu, the PCRA allows investment in individual stocks, ETFs, index funds, bonds, and other securities. For physicians who want institutional-quality investment management, the PCRA is the vehicle to use — and it's the only Kaiser retirement account Qubera can manage while you're still employed.

To set up Qubera's management access, you open the PCRA, then grant Schwab limited third-party adviser access. We handle the paperwork and investment management from there. The standard Keogh fund menu sits outside our management scope.

Most SCPMG physicians skip the PCRA entirely. They leave the Keogh on the standard plan menu — a limited set of funds — and go years without professional management. If your Keogh balance is over $200,000, the difference in investment outcomes from active management in the PCRA is material.
Tax Strategy

Pre-tax Keogh + Backdoor Roth IRA — the Kaiser physician blueprint

For most SCPMG physicians, the Keogh pre-tax contribution at the $72,000 ceiling is the single highest-value action — saving $33,000–$38,000 in combined federal and California taxes on that amount annually. Alongside the Keogh, Backdoor Roth IRAs for both spouses add $15,000/year in tax-free Roth accumulation.

Important: the Backdoor Roth IRA requires careful sequencing if you have any pre-tax IRA balances (traditional IRA, SEP-IRA, SIMPLE IRA). The pro-rata rule requires you to treat all pre-tax and after-tax IRA dollars proportionately when converting — if you have $200,000 in a pre-tax IRA and try to convert an $8,000 after-tax IRA contribution, you'll owe tax on most of the conversion. The fix is usually a reverse rollover of pre-tax IRA balances into the Keogh, which accepts incoming rollovers from traditional IRAs. We verify and sequence this correctly.

What Qubera does

Keogh election modeling · PCRA management · Post-separation IRA rollover

Qubera provides an annual Keogh contribution election recommendation at the start of each plan year based on your compensation and cash flow. We set up and manage the PCRA on a discretionary basis while you're employed at Kaiser, providing the same institutional investment management we use for non-employer accounts.

At separation from Kaiser, we coordinate the Keogh rollover to Schwab IRA, sequence any Backdoor Roth IRA actions to avoid the pro-rata rule, and continue managing the assets post-rollover. There is no 457(b) distribution election complication as there is at USC Keck — the Keogh rolls cleanly to an IRA.

Common mistakes at Kaiser Permanente

What we fix in the first engagement

Wrong Keogh contribution election

The Keogh contribution percentage is elected annually and applied to compensation for the plan year. Physicians who elect too low leave pre-tax savings capacity — and $30,000+ in annual tax savings — on the table. Physicians who elect too high without modeling cash flow can face mid-year shortfalls. The right election depends on your base compensation, bonus structure, and cash flow needs for the year.

Never opening the PCRA

The PCRA is an optional feature — you must actively elect to open it. Most SCPMG physicians never do, leaving their Keogh on the default plan fund menu indefinitely. This is the only Kaiser account where an outside adviser can provide direct investment management while you're employed. If your Keogh balance is six figures, the difference between default fund selection and active management in the PCRA compounds meaningfully over a 20-year career.

Backdoor Roth blocked by pre-tax IRA balances

Kaiser SCPMG physicians who previously funded a traditional IRA, SEP-IRA, or rolled over a prior employer 403(b) to an IRA may face the pro-rata rule when attempting a Backdoor Roth conversion. The fix — a reverse rollover of pre-tax IRA balances into the Keogh — is available if the plan accepts incoming rollovers. We verify plan eligibility, execute the reverse rollover, and then proceed with the clean Backdoor Roth conversion.

Kaiser Permanente specific questions

What Kaiser SCPMG physicians ask before working with us

The SCPMG Keogh is a defined contribution retirement plan for Kaiser Permanente physicians in Southern California. Contributions — employer, employee, or a combination — are capped at the IRC 415(c) limit of $72,000 for 2026. The physician elects a contribution percentage annually, applied to their compensation for the plan year. This is one of the most generous contribution ceilings available to any employed physician. Getting the election right at the start of the year is important because adjusting mid-year is generally not permitted.
The PCRA (Personal Choice Retirement Account) is a self-directed brokerage window within the Keogh, held at Schwab. It gives you access to a much broader investment universe than the standard plan menu. Because it's at Schwab as a self-directed account, Qubera can be granted discretionary management access — meaning we actively manage the PCRA on your behalf while you're still employed at Kaiser. This is one of the few LA hospital systems where this is possible during active employment.
The vested Keogh balance rolls to a traditional IRA at separation — typically at Schwab, since the PCRA is already there. This is a standard qualified plan rollover with no 10% early withdrawal penalty before 59½ (penalties apply to distributions, not rollovers). Unlike USC Keck's non-governmental 457(b), there is no complex distribution election complication. After rollover, Qubera manages the IRA directly at Schwab under our standard management agreement.
Yes — most Kaiser SCPMG physicians earn above the Roth IRA direct contribution income limit, so they use the Backdoor Roth: make a non-deductible Traditional IRA contribution ($7,500 per person in 2026, $8,500 at 50+), then convert to Roth. The complication is the pro-rata rule: if you have any pre-tax IRA balances (traditional IRA, SEP-IRA, SIMPLE IRA, or a rollover from a prior employer), the conversion is partially taxable. The solution is typically to roll those pre-tax IRA balances into the Keogh first — which accepts incoming rollovers — leaving a clean $0 pre-tax IRA balance before the conversion.
The key difference is structure vs. capacity. Kaiser's Keogh maxes at $72,000 in a single plan. UCLA's system offers three separate vehicles (403(b), 457(b), and DCP) whose combined capacity can reach $94,000–$96,000 per year for most attendings. However, UCLA physicians cannot have their accounts managed by an outside adviser while employed — Qubera provides a blueprint only. Kaiser SCPMG physicians who open the PCRA can have active professional management while employed, which is a meaningful advantage for those who want hands-off execution rather than a blueprint to implement themselves.
Other LA physician employers

Not at Kaiser Permanente?

Each employer's retirement plan is different. Find yours below.

UCLA Health

Governmental 457(b) that rolls to IRA, UC DCP Mega Backdoor Roth (~$45K/yr)

UCLA breakdown →

USC Keck

Non-governmental 457(b) distribution election trap, TIAA 403(b) strategy

USC Keck breakdown →

Cedars-Sinai

DB vs. DC Choice Retirement decision, Voya 403(b), no 457(b)

Cedars breakdown →

Working at Kaiser? Let's set up your PCRA and Keogh election.

Bring your SCPMG Keogh statement to a complimentary 30-minute call. We'll review your contribution election, walk through PCRA setup, and show you how to execute the Backdoor Roth alongside your Keogh.

Schedule Your Free Call