It was in \u201cThis is Spinal Tap\u201d where I heard the line how there was such a fine line between stupid and clever.<\/p>\n\n\n\n
When it comes to protecting retirement plans, I always say KISS, the acronym for \u201ckeep it simple stupid\u201d. So many times I have seen plan sponsors try to be clever and there is always a high price to pay for being clever.<\/p>\n\n\n\n
Whether it\u2019s allowing company stock, too many proprietary funds, or hiring a plan provider who is a relative, people who ask for trouble in their role as 401(k) plan sponsor will find it. Being a plan sponsor means minimizing risk and risky behavior will make you end up paying a price.<\/p>\n
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