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Like you, I smell the foul stench of employer BS. Vanguard will do a 1 person 401(k), so the size argument is nonsense, as you note. I'd call the provider directly and ask them if they have any restrictions, then get back to your company. As mentioned, I think they can wait a year max before enrolling you.

What's so obnoxious about waiting periods is that enrolling you in the plan immediately doesn't cost your employer anything if they don't match, and can be a huge financial benefit for employees.

Don't hesitate to contact your state's employer regulatory agency if you suspect you're being taken advantage of. If the employer retaliates because you do this, you can take legal action.

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