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For the last 6 years I've worked in a very small company with a profit-sharing pension plan. All contributions are made only by our employer. Turns out after 6 years I am fully vested but my share is less than $5,000. I am 38 and obviously need to get started on my own retirement savings plan. I'm told that I am not eligible for a tax exempt IRA/401K plan because I have this worthless pension plan. Can I get out of that plan now, can I have my employer roll this over into my own IRA and then be eligible to contribute my own pre-tax dollars?
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