I was first introduced to the term "psychic numbing" as a college junior. While participating in a semester long seminar on the cultural history of atomic physics (this was the kind of course science majors took to meet their "arts and literature" diversification requirements), we read the book Hiroshima by John Hersey. This journalistic/clinical piece of literature detailed in agonizing detail the post-nuclear lives of the immediate survivors of the bomb that didn't end World War II.

It's not necessary to get into the entire history of the term and its use in psychology, but suffice it to say it arises when a person is subject to such a horrific experience they become apathetic. Now, I'm not trying to equate the impact of nuclear Armageddon with that of serving as a 401(k) plan sponsor, but there are similarities.

Just as society learned to stop worrying if not love the bomb, this same Dr. Strangelove-like condition exists in the minds of many 401(k) plan sponsors. The notion of their fiduciary duties seems so terrifying, they chose to ignore it, pretending it's not even there.

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Christopher Carosa

Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).