Self-Directed Brokerage Account
The Self-Directed Brokerage Account (SDBA) is a brokerage option that offers you investment flexibility. You can invest in more than 9,000 mutual funds, 3,600 of which are no load and approximately 1,300 are no transaction fee funds. You must complete an application form to set up a separate SDBA account before you can trade mutual funds. Contributions cannot be made directly to the SDBA.
In order to open an SDB account, you can print a Self Directed Brokerage (SDB) Account Application from the Forms section of this Web site or you can call the State of Missouri Deferred Compensation Plan Information Line at 1-800-392-0925 to request one. Upon receipt of your completed application, State Street Brokerage will send you a welcome letter with your brokerage account number
Once your account is open, you may make your initial transfer into the SDBA through the Manage Investments section of this Web site and by selecting “Fund Transfer” or by calling the State of Missouri Deferred Compensation Plan Information Line at 1-800-392-0925.
Once the money is in your brokerage account, you can then invest in the more than 9,000 mutual funds available. You may do this by calling the State of Missouri Deferred Compensation Plan Information Line or by calling State Street Global Markets, LLC directly at 1-866-548-5595, Monday – Friday, 8:30 a.m. to 5:30 p.m. ET (except New York Stock Exchange holidays). You must maintain a minimum balance of $500 in the Deferred Compensation Plan and may transfer any remaining Plan account balance into the SDBA. There is currently a $50 annual fee and transaction fees may apply. In April 2009, this annual $50 fee will be eliminated, however, transaction fees may still apply. All fees are outlined in the Self Directed Brokerage (SDB) Account Application.
*The above fees include operating expenses and investment management and administrative fees as of April 10, 2009 and may change.