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I've had offered limited choices, high costs, and low flexibility- and mediocre returns even with index funds.
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That's my criticism of 401(k)s - you are often at the mercy of the 401(k) salemen that is buddy/buddy with the person in HR as to what 5-10 funds to choose from, almost which never include REITS or commodities. They are often even "loaded" funds.
They're fine for a certain portion of your portfolio but shouldn't be 100% of your portfolio. Never having one, I am not sure if fees are hidden in them even if the funds don't have a load on them.