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I'm not arguing with your logic here, but I would like to suggest an alternate plan for you. Perhaps
you could have peppered the account manager with requests for an S&P Index Fund to be added
to your choices. Perhaps if you showed some figures on fund performance to your co-workers,
they would also support you. It sounds like if you got an index fund option, you would stay in the
401(k). It never hurts to ask!

Actually, I did ask him about the index fund, and although it's in the works, one won't be available for quite some time (don't know why it takes so long). I also do not get any matching of funds from my employer for this 401K, so that's another strike against it. I've asked him to tell me when the index fund is available.

Most of my co-workers do not invest in the 401k already, though usually for different reasons...

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