Statues of Plato, left, and Socrates, right -- Socrates knew what he didn’t know, but when it comes to 401(k) plans, employees don't know what they don't know. (Photo: AP)

How can retirement plan sponsors and participants know the right answers if they don’t ask the right questions? Allow me to start my answer by telling you a story.

A man by the name of Chaerephon (can’t pronounce it? it doesn’t matter because you’ll never see it again) asked the Oracle of Delphi if there was no man wiser than his friend Socrates. The priestess pondered then answered, “There is no man wiser.” When told this, Socrates didn’t believe it, “I know that I have no wisdom, small or great.”

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