Whoa! This is likely the case at so many big companies. Another drawback to the peasants indexing the market in their little account; they collectively have no voting rights, and such conciliations affect politics which end up working against their interests. Like any of us wage donkeys have the time to be involved in local/state/national politics as informed voters, vote our shares, and volunteer for union too! I say this as one who bought into the Boglehead method of dollar cost averaging into index funds in a target retirement date portfolio.