I am a Medical Assistant Supervisor for a doctor's office in Nj. I have been employed there for a total of 7 1/2 years and I am fully invested in the profit sharing program, but recently the doctor I work for has opened 2 other offices and the number of employees has grown. Now he says it will be unaffrodable for him to continue the profit sharing and will switch to a 401k by 2007. This is not fair! Furthermore is this legal?

superMA :mad:

Yes, the employer can convert the profit-sharing plan to a 401(k) plan if it so chooses.