Misdirection relies on the lazy eye. Or lazy brain. In eithercase, the magician masters the art of deception throughmisdirection: One hand draws the attention of the audience whilethe other furtively retrieves the device that appears like magic.Con men learn the same trick.
When it comes to fees, 401(k) plan sponsors might want to readup on the magician's textbook (see “The Meat and Potatoes Topics of 401k Plan SponsorTraining: Fiduciary Education Curriculum (Part II),”FiduciaryNews.com, May 14, 2019). If they're not careful, they'lldiscover low fees may be the hand that deceives them. Followingthis false siren can leave them exposed to unwanted fiduciaryliability.
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