The Biggest Threat To Your 401(k) Plan May Be You

Don Trone discusses how individuals at several levels are not trained to manage 401(k) plans.

Many sponsors don't even realize that they have a fiduciary responsibility to oversee these plans and may be vulnerable to legal actions by participants. "We don't spend a dime educating and training the five million men and women who have the responsibility for managing these plans for companies," said Don Trone, who founded the Pittsburgh-based Center for Fiduciary Studies, a nonprofit organization that trains retirement-plans sponsors and providers. Trone, who also serves on the Department of Labor's ERISA Advisory Council and Advisory Council for the Center for Financial Learning, is helping lead the push to educate the human resources and personnel workers who have a great deal to do with how millions of Americans retirement plans take shape.

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