PBS came out with a documentary April 24 on 401(k) plans, click here to watch "The Retirement Gamble".

This is a 53 minute documentary. It's your money so please take the time to watch it.  It is referring to your 401(k).  Obvious some plans are worse than others, but 99.9% are of poor quality and have the issues outlined in the film. Yes, there is a far superior plan structure out there - your plan sponsor could fix it, if they can recognize it, and then take action.

The culprits according to PBS's documentary:

1) Wall Street's greed in charging excessive, hidden fees. 

2) The inability of Wall Street's stock pickers and market timers to out-perform passive investments.

3) The lack of a uniform fiduciary standard that would require all "advisors" to put the client's interests ahead of their own.

It will be very difficult for you to change your company's 401(k).  Your company plan sponsor is a volunteer with many tasks on their plates, and the 401(k) plan stays at the bottom of their priorities.  

Most plan sponsors are convinced that your plan is good.  Your current provider is a part of a large 401(k) (and mutual fund) industry, who must perpetuate myths to keep the scam in place. Even the people selling these plans believe they are doing the right thing - they are unwittingly drinking the industry kool-aid.

In our next e-newsletter, on Thursday May 23, before the Memorial Day weekend, we will give you some tips on how to allocate your assets inside your 401(k) plan.  You're limited by the poor quality - but you need to get the best return you can while your money is there.