Some companies offer a 401K plan, but an employee may not be fully vested for 3 to 5 years, depending on the company policy.
If opting out, DO NOT go with an actively managed fund if doing your own saving. Vanguard is the sane way to go.
NO LOAD.
Actively managed funds have to charge more to pay the managers, because they are always needed to actively manage these funds (despite long-term studies showing that they rarely beat the market over time, even after all that supposed "active" management that they claim is the key to better returns).
Save on management fees and go NO LOAD with Vanguard index funds.
You'll have MORE MONEY after being charged all those non-existent active management fees.
Informedof IL4:28PM June 06, 2010
Automatic enrollment was started because too few employees were signing for company 401ks. Some "didn't have time to get signed up", others thought the process too difficult, and still others just didn't understand the importance of saving for retirement. If in fact, automatic enrollment is resulting in more employee savers, and greater contributions than it should be automatic for everyone.
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Informed of IL 4:28PM June 06, 2010
Brent Carnduff of ID 10:30PM June 05, 2010