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We finally (after 6 months of asking) got access to my wife's 401(k) plan at one of her jobs. We had gotten a statement a few weeks ago, listing investment options I couldn't find symbols for. We found mutual funds with similar names, but with prices about 3 times the prices shown on the statement.

Anyways, to cut a long story short (too late), the investment company (NY Life Investment Management) has options in the 401(k) like "XXX Account", where XXX is the name of a mutual fund run by a separate company and Account means that NYLIM takes 1.35% per year of the balance. This is true even for the money market account, the only money market account with a negative interest rate I've ever heard of.

DW's company matches 50% of contributions up to 5% of salary. We also max out a Roth IRA for each of us and the 403(b) at her other job.

My questions are:
1) It is probably worth contributing up to the maximum matched, right?
2) Is it worth contributing beyond that for the tax deferrment?
3) Other than her leaving the company, is there any way to get the money transferred out of that account and into one with less onerous terms? (for instance a self directed IRA at a low cost brokerage)
4) If she could talk the company into it, could she quit, roll over the IRA, and then rejoin the company?

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