I worked at the college newspaper and if you said something to one staff member, they would tell someone else in 5 minutes. However, like the game of telephone, the story would get misconstrued. I remember telling someone about possibly seeing Aerosmith for New Year\u2019s Eve in Boston and hearing back that the story going around was I\u2019d see Aerosmith in Boston and then kill myself (I didn\u2019t end up going).<\/p>\n\n\n\n
Sometimes, the retirement plan business is no different than the Stony Brook Statesman. Sometimes, words swirl, and stories are created, that isn\u2019t close to reality. Recently, I heard about one plan provider being upset with me because I vetoed their selection as third-party administrator because I didn\u2019t want to lose my position as a plan fiduciary. The only problem is that it never happened. I\u2019m not certain, but I think the situation arose because it was the plan\u2019s advisor that nixed it, concerned that I\u2019d be pushed to the side.<\/p>\n\n\n\n
You can\u2019t worry about what you can\u2019t control. So rumor and innuendo and the game of telephone are hard to control. The only you can do is be in communication with people around the industry, which can allow you the opportunity to separate fact from fiction.<\/p>\n
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