A recent hearing of the Connecticut Retirement Security Board set the stage for a controversial proposal — that 401(k) plan participants be tested for financial literacy before they’re allowed to invest in high-cost or esoteric funds.

The idea was presented by Ian Ayers, the professor at Yale Law School who made headlines in 2013 for sending letters to some 6,000 plan sponsors saying that their plans had been identified as “high cost” based on his review of Form 5500 data filings in 2009.

The industry, as might be expected, reacted with fury at Ayers for publishing data comparing 401(k) plan expenses and fees, and especially for suggesting some plans might have been violating their fiduciary duty.

The industry also was incensed at his suggestion that providers “improve plan menu offerings, including adding lower-fee options, both at the plan and fund level, and consider eliminating high-fee funds that do not meaningfully contribute to investor diversification.”