I guess I see the glass as half full. I don't think this is likely to be a good deal for me any time soon, but having an option, even an option that is not attractive on its surface, is better than not having the option. My firm just started a deferred compensation plan that does not look attractive to me in my late 30s, so I won't participate. In the unlikely event that I work here for another 20 years I may change my mind. But the suite of benefits is enhanced by the addition of this plan, even though it ain't for me.