Echoing what Cynthetiq said - before you dismiss the possibility of the 401(k) make sure that your employer will not match any contributions. If they do, it's probably much to your benefit that you max out whatever they will contribute.
For instance, one company that I had previously worked for would match 100% of the contributions I put in up to 9%, which is extraordinarily rare and an incrediblely great deal. Basically, for every dollar I put into my retirement fund, they would put in an extra dollar for me, up to 9% of my annual income. The company I currently work for matches 50% of my contributions up to 6% of my annual income - so for every dollar I put in, they give me an additional $.50.
A couple of things to consider...
If you were to quit, all the money you put in is still yours - it cannot be taken away (with the exception of potentially losing value in stocks, or something similar) If you have become partially or fully vested, the amount vested is yours as well. When you are fully vested, it basically means that you have been at the company long enough to keep all the money that have matched. They are required to match you as soon as you start contributing, but if you leave before you are vested, you may not be able to get to keep all, if any, of it. Vesting typically takes place in one of two ways - Cliff or Tiered vesting. Here in WI, I believe that there there is a maximum of three years for cliff vesting and a max of five years for tiered vesting. In essense, if I was with a company that cliff vested after three years and quit 1 day before my three year anniversary, I would not get to keep any of the money they put in the retirement plan for me, although what I put in would still be mine and have to be transferred to another retirement vehicle to avoid paying taxes on it. If I quit the day after my three year anniversary, 100% of the money that they put in would be mine as well as the funds that I had contributed. Tiered vesting is similar - if it is 20% a year, on my 2nd year I would get 20% of the money they contributed and keep all of my own, my third year I would keep 40%, ect.
It sounds like you are working for a larger company, so I would bet that they do offer the ability to match contributions - you can likely check with you Human Resources department for more information regarding how your company's vesting policy works, as well as the amount they match up to what percent of your total income.
Remember, one way to look at it is an immediate return on your money - if you are in college and think that you'll stay there until you are at least 50% vested or whatever, it basically means that you get an 50% profit immediately, and all earnings in the future are based on that 150% that you put in.
Hope this wasn't to confusing and helped a bit
