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I recently reentered the world of 401ks for the first time in half a decade and my plan is also with Fidelity. After a comprehensive analysis of all the fund offerings, I dismissed all the target date funds as having too high an expense ratio. The target funds are designed for retirement savers who don't have the time or interest to spec out the other fund offerings, which would be the Foolish thing to do.

I went through the same thing recently. I have a few 401ks from various jobs over the years. Some of my accounts I was able to invest in the Vanguard target date funds. Others only had the Fidelity Freedom funds.

As you noticed, the expense ratios on these funds are far higher than they ought to be. Competitors funds are all very low cost, so I can only assume that Fidelity must have these funds as the only target date options in a ton of plans.

What really irritates me is that my current employer's plan only offers low cost index options for some of the asset classes I would need to replicate a target date fund. Sigh.
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