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My employer just announced that for the year 2015 she will be converting our Simple IRAs into a 401k. She says the reason for the switch is because she wants to match us at a higher percent (She has been matching us the limit of 3% and says she wants to increase this to 10%).

I have been contributing 10% but have told her that I want to increase to 15%. I suppose this will become effective this pay period.

Although I welcome the higher match, I have several concerns...
Will my investment options become more limited? Do 401ks even offer the option to buy individual stocks? (I had a 401k with a previous employer and I never saw this as an option, only small cap, large cap etc). If they don't offer individual stocks, or a particular fund I currently hold in my SIMPLE, what becomes of my holdings?
Who pays the administration fees? Participants or the employer?
And what about mutual fund management fees?
FYI The brokerage (TD Ameritrade) will remain the same.

I'd really appreciate if someone can shed some light on this for me.
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