Old thread, but timeless issue.
I worked at BJC (Barnes-Jewish Hospital) for several years but now work for SSM (DePaul). They both have wonderful things going for each of them. But my comment is regarding their defined contribution savings plans. BJC has a 401k and SSM has a 403b. The number names don't really matter, but the investment program management and investment choices are huge issues. I've discovered since leaving BJC what a miserable investment program SSM has. For anyone who follows investing, and indexing in particular, SSM's 403b which is run by Great Western Insurance, is loaded up with high expense ratio funds. Moreover, they have just one index fund, which tracks the S&P 500 but it has an expense ratio like an actively managed fund. It's horrible and SSM should be embarassed. BJC on the other hand has chosen to have Vanguard administer its 401k plan. It largely has very low expense ratio funds including many index funds, and it also has some actively managed funds for people who feel they have to go with these types of investments. BJC also gives access to a few DFA funds, which for those investors who really know indexing, is a very good plus.
Anyhow, without trying to get into many specifics, the bottom line is that the savings plans offered by BJC and SSM differ like night and day, and SSM has a dog of a savings plan which will cost you real money in the long run. I do love working at SSM, but my one true regret is that I have such a lousy savings plan. As it is, anyone working at SSM would be wise to contribute only up to the matching % that SSM matches, and then no more. After that, open up an IRA or a Roth IRA somewhere like Vanguard, or Fidelity, or Schwab... whatever, and contribute to that.