Selling your option week and putting it into your 401(k) and then taking the 1 weeks pay for when you would have been on vacation and then putting just 2% weekly into your 401(k) can leave you a hefty amount at retirement.
58 hrs. x 28.19 = $1,635.02
40 hrs. x 28.19 = $1,127.60
7.5 hrs. OT x 42.28 = $317.10
$70,000 x .02% = $1,400.00
Total yearly = $4,479.72
The average historical return for the stock market is somewhere between 10% and 13%. Just making a "measley" 9% for 20 years would gross you $229,182.46.
Extend that out for another 5 years and you would have $379,436.76.
If you're afraid 9% is too much to expect, then 5% would get you:
20 yrs. = $148,126.42
25 yrs. = $213,803.60
This is, in my opinion, a "minimal effort" savings plan. You work 1 extra week a year for your retirement and invest 2% of your annual income. The company "matches" $1,635.02 and you don't have to make any real big efforts to budget for savings. (And this doesn't even include future pay raises.)
That's my advice. If you want to knock me for it, feel free.