Author Topic: Profit Sharing Plan  (Read 779 times)

quelinda

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Profit Sharing Plan
« on: May 31, 2016, 03:02:07 PM »
I have heard that if a company you worked for goes bankrupt, any pension you may be expecting could be gone as it is really part of the company's assets.

However, my husband's company has a profit-sharing plan instead of a pension. He is 100% vested in it, and it's completely controlled by his company (both in what is contributed & how it's invested).

It's grown to a sizeable amount, but I'm unsure whether or not we can count on that money as part of his retirement (not looking to FIRE at this point -- just planning for a regular retirement). Is it completely his money? Or does it really belong to the company until he retires or is old enough to make withdrawals without penalty?

Thanks!