No. of Recommendations: 0
Hi Fools,
My old employer offered a profit sharing plan where they would make yearly contributions at their discretion. When I left the company, I was fully vested into this plan, but I don't know my options for where to put this money.

I'm assuming it is a qulified retirement plan which I could just roll into an IRA. Anyone have insight into profit sharing plans? I am unfamiliar with this beast.

The other variable here is that I'm now self-employed. I'd guess that I could instead use the funds to set up a SEP or SIMPLE for my own business. In any case I need to get that $$ back under my control... I don't like the idea of just having it sit in the account of my former employer.

Cheers & TIA,
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.