The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Company-funded profit sharing retirement acc||Date: 4/13/2010 8:25 PM|
|Author: Howie52||Number: 66949 of 83147|
My company has a profit sharing plan where one-time annual deposits are made by the company into a retirement account. The company does allow employees to "borrow" from it but require payments back.
Because I'm 100% vested with my company, the entire amount in this account is mine to keep. If I were to leave the company, what type of account can I roll it into? I have Roth IRA accounts but since I haven't paid taxes on the profit sharing, I'm guessing a Roth isn't an option.
Thanks guys, I don't plan on leaving my job but was just curious. "
There should be a plan prospectus that will tell you how the
account could be handled on leaving the company. I would expect
you could leave it in place or convert it into an annuity form
or similar device.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|