> Fund your company 401K to the maximum.
Fund it up to amount your company matches. The maximum you can contribute to 401k is 40% of your salary I believe. I wouldn't contribute 40% of my salary to the 401k. Just the amount your company matches ( 5% or whatever it is for your company ). That 5% match ( or whatever it is ) is free money. It would be foolish to leave it on the table.
The personal finance reddit goes like, fund it up to the match is basic, but if you can, max it.
You reduce your taxable income and the money doesn't pay capital gains when you pull it out.
You do pay income tax on it when you pull it out though. Whether or not you come out ahead depends at least partially on your marginal tax rates before and after retirement.
I max my 401k because not taking advantage of tax-advantaged income is leaving money on the table.
If you aren't getting a matching benefit or other reward for using an employer managed investment, then you shouldn't. If someone doesn't have the time, inclination, or knowledge to understand the difference then investing in an unmatched 401k is still better than not saving at all :S
Secondly, as far as "another tax shelter" there aren't any. For most people the only tax shelter available is 401(k). And the tax shelter is a very good reason to contribute to 401(k), even if there is no company match.