WO years ago, "Stephen" feel that the company's 401 (k) plan is "sad".

Workers - who prefers to remain anonymous to protect the identity of the employer - has been unhappy with many aspects of the plan.

"(He) offered a choice of funds problematic unseen and cost structure," said Stephen.

Initially, Stephen did not mention that concern to anyone. However, he finally raised the issue to the company's director of human resources when asked for input on other issues.

Stephen gives some suggestions for improvements, such as offers several options and find the funds more low-cost investment.

To Stephen's surprise, the director of human resources asked to join the company's 401 (k) plan committee to evaluate current and alternative view. Stephen received.

"We evaluated five different service providers," he said, before choosing a new company to manage the company's plans.

If you work for a company that provides a 401 (k) plan, consider yourself lucky. You have access to tax-advantaged retirement account that can help you build a large nest egg for the future.

However, there are things you can do if you do not like your choice in 401 (k).

Under the laws of the Employee Retirement Income Security Act 1974, or ERISA, 401 (k) plan sponsors must meet a minimum standard of conduct for employees handling the case 'money.

This includes working for the interests of plan participants (and beneficiaries) and offers a diversified investment options.

"Plan sponsors have a fiduciary obligation to ensure that there are alternatives to employees," said Gil Mateer, President of Retirement Services Group at Bryn Mawr Trust Company in Bryn Mawr, Pa.

In addition to their fiduciary duties, private plan sponsors have many options for when they come to determine the actual investment that will go into the plan.