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Absent any kind of employer match, I think you're 'stay-away' approach is the correct one.HotRod140 wrote:Yes thats the only choices, I told them about vanguard, but they didnt listen. I cant believe how high the fees are. I am gonna stay away, nobody is making money but the fund administrators
Once you've figured out how much you need to save each year, I'd set up a payroll allotment and direct the pay to your Traditional IRA (if your AGI allows you to deduct it) or Roth IRA (if you can't deduct your TIRA).
If you need to save more than $5,000 per year, direct this additional amount to a taxable account. If you do this, use your IRA contribution to invest in income producing mutual funds/ETF's and your taxable account for growth related investments.
After you've done this and are satisfied, write an article for your employee newspaper/circular/on-line forum and explain what you've done and why, advocating that fellow employees consider this approach. If you get enough to abandon this expensive plan, change could be forthcoming.