[af_vet_rr]

People are too stupid to be able to choose from all these options... they say!

It's not that they are stupid it's that some of them are complex. I think the tax code ought to be reformed long before 401(k) but I understand his sentiment - until you've tried to help somebody with a 401(k) who has never had to deal with one before, you don't understand how complex/confusing it can be.

[mwilli20]

Some are complex and confusing? Don’t participate. Pretty soon the company will realize that the plan does not offer an advantage for their employees and they will change it.

You have the option to not participate, you can participate and put the money in a simple interest-bearing fund or you can treat it as a day-trading opportunity.

But don’t fall prey to the illusion that there is a smart group of people out there that can make it better. Chances are far better than 50/50 that they’ll screw it up.

Remember that this was an UNINTENDED feature of the tax code. I bet that’s why it was so successful. ;-)