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Author: Ghislaine0 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76384  
Subject: Profit Sharing so no 401K (long?) Date: 11/11/2001 12:03 AM
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Hi all!

New to the board so have lots of catch up to do. In the meanwhile I was wondering if anyone had knowledge about the following situation:

Just started a new job with a company that has no 401K vehicle. "Instead" there is a Profit Sharing Plan in which the owner has always put 15% of a person's salary. However, the vesting doesn't start for 2 years, then 20% each year. Thus 100% vesting at 7 years, may I be there that long!

While it is nice that the owner is putting away 15% of my salary for me (though there are no real guarantees he'll continue to do that), I am concerned because I don't have the kind of control that I would in a 401K, nor is there any of *my* money that I will get back should the job not work out for 2+ years. Are there any vehicles that I can use to make up for the loss of putting my own 15% away that would be tax deductible as the 401K is? Already was doing the IRA (in my case Roth) but that is limited and hardly makes up for the 15% that was going into 401K. Am I stuck with taxable accounts?

I'd appreciate any pointers, especially to previous discussions since I may not get to them right away as I catch up.

Ghislaine
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