As of 10/31/2011 the asset allocation was 75% Equity, 10% Long-term debt, and 15% Short-term debt. Yes the information we were given is 15 months old. The investments are spread across 23 funds + cash equivalent (6.39%). I recognize some names eg. PIMCO Bond Funds, Dodge & Cox International Stock and T. Rowe Price REIT, but otherwise seems "exotic" actively managed funds which means high expense ratios. Under management fees for both 2010 and YTD 2011 is a big fat zero, but I cannot believe this to be true. No expense ratios for the funds listed in the report either. It all seems very fishy, maybe not be a standard 401K plan because it would seem to me that these guys could get sued for violation of fiduciary duties as the fund trustees pretty easily.
We'll start maxing out my 401K come March and then reassess around September if we want to participate in her company plan.