Who's watching your 401k ?

I sometimes get the feeling that most people don't like discussing their 401k financial plans. Perhaps they choose to ignore it and hope it will take care of itself over the long run. Maybe they don't find the financial world very interesting and turn a shoulder to global events that can affect their retirement fund.
So the question is: Who's watching your 401k?
First, let's make sure we understand how it works. When you make a contribution at work, you generally have the option to choose from several different funds. They may include:

• Money market fund - Equivalent of cash - very safe, even when stock market is losing...
• Bond fund - You're lending your cash to businesses and governments - fairly safe until interest rates raise.
• S&P 500 fund - Stocks equivalent to the S&P 500 - Good when the S&P are going up.
• Small Cap fund - Stock of smaller companies
  
• Large Cap fund - Stocks of larger companies (WalMart, GE, Ford, etc..)
• Foreign / Overseas - Stock located outside of US (England, Germany...etc)
  

Most people make their choices and are told to leave it alone for the next 20 years. Maybe that's why they aren't too interested in talking about it? I dunno.
I do know that those who manage 401k accounts, charge a fee to track your money. And tracking your account is all they do, unless you ask them to transfer funds...etc. If you make money they charge a fee - If you lose money, yep, you guessed it, they charge a fee. Nobody from your workplace looks at your investment choices. And those folks managing the funds you're invested in - they manage their funds, not yours.
So you're all alone, managing what will likely be the largest sum of money you'll ever have. Your company can't help, the company managing your 401k isn't concerned (except getting their fee) and like everything else, it falls into your lap!
The point is: If you don't take care of your 401k - nobody will.