Zoocap

Some companies are offering new 401K options that take your retirement needs into account.  Devon Energy is a company offering a “Super 401K” that is geared towards your specific retirement date; the employee simply determines their contribution rate, and the fund managers do the rest, selecting funds with time that best meet the needs of their expected retirement dates.  Called “target date” funds, The U.S. Labor Dept. recently approved their use for accounts established under automatic enrollment programs. Devon is, “one of th few coming close to what’s required to compensate employees for the loss of a pension”, said EBRI’s VanDerhei.  These super 401K’s can earn as much as 22% return, as long as you don’t mind relinquishing having control over your 401K investments.

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