What You Can Do 

 

As an employee, what are your options for effecting changes in your plan? Not many. Your main recourse is to talk to your human-resources department or plan fiduciary.

*Ask about fees. "Ask questions," Hess said, including what your fees are and who pays what.

*Request other investment options. "Some plans will be less likely to offer something that's not being requested by employees," Hess said. "A TIPS fund, for example: If people are asking for it, their employer is more likely to take a look at that as an option," she said. "They're going to focus on the things that are valued by more people, and if they don't hear anything, it might not get as high of a priority."

*Talk to colleagues to encourage them to get active. The more requests an employer gets, the more likely the company is to respond.

*Put your money where it counts. If you're a married, working couple, each with a 401(k) plan at work, compare the plans on BrightScope.com or on your own. "It might make sense to fund the higher-rated plan at a higher level," Alfred said. That is, put more money into the better plan. If you're single and stuck with a bad plan--the wrong investment options or high fees--contribute to an IRA or Roth IRA outside of work. But invest enough in your 401(k) to collect your employer's match, if there is one. Free money is free money, after all.

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