We literally got an email that our 401ks are separate from Schwab’s assets. If Schwab fails, out assets go somewhere else. It’s a trust.

“The PRAP is a Trust. Its assets are not part of the assets of Schwab. Therefore, if anything were to happen to Schwab's business it would not affect the PRAP, except potentially with respect to uninvested assets as noted below. Your PRAP invested assets would be completely safe if there were any issues with Schwab.”

Just don’t leave assets not invested, which would be dumb anyway.