This morning I received an email informing me of upcoming changes to my 401(k) plan:

This message is intended to inform you of a change being made to [your] 401(k) Plan. ...

The Investment Review Committee recently evaluated the 401(k) Plan’s existing fund offerings and has decided to remove the [unnamed fund]. This fund has been under performing relative to its benchmark and similar funds for quite some time. ...

How nice it is to see that my company has an Investment Review Committee (Who knew?) and, moreover, that:

1. The old song about past performance does not guarantee future results does not apply to them
2. Too much like just about everyone else, they manage investments by looking in the rear-view mirror
3. Also too much like everyone else, they're not immune to buying high and selling low

Want to bet whether or not the Investment Review Committee's pay is tied to their performance?