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Author: jmarek1 Old School Fool Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Profit sharing Date: 4/3/2004 11:36 PM
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I have the opportunity to use my company's profit sharing plan. It's a small medical practice, and the accountant has told me that the account can be opened with a brokerage I choose, as long as they offer profit sharing plans. I don't know much about how these plans work--I've been told that the account is set up in the name of "X Medical Group for the benefit of (me)." I can then designate which stocks or funds are purchased in the account. It's a group of four physicians, and only one of them is using this plan. I can't see a reason not to, since it's a way of allowing pre-tax dollars to grow. My question is this: Do any of you know what sort of brokerage I might be able to use for this? The only other person using the plan is going through Fidelity, but he tends to be in fairly actively managed funds, as far as I can tell. I prefer something closer to an index fund, possibly with a couple of well chosen stocks to supplement. But I'm not really sure where I can set this up, and I don't have a lot of reliable help here. Any ideas? Thanks.
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