People can get the wrong idea at times. I’ll never understand what Fred Silverman was thinking when he made Jean Doumanian the successor to Lorne Michaels as Executive Producer of Saturday Night Live or when he imported Pink Lady, a Japanese singing group who spoke no English as the newest stars of a variety show. Fred got a lot of wrong ideas when he was charge of NBC in 1980. Retirement plan sponsors can get the wrong idea and risk liability from unhappy plan participants and the federal government (namely the Department of Labor (DOL) and the Internal Revenue Service (IRS)). While most employers try to do right by their employees with their retirement plans, the employer’s lack of expertise and sophistication in the nuances of retirement plans are often taken advantage of by unscrupulous financial advisors, attorneys, accountants, and third party administration (TPA) firms. Since employers delegate plan decisions to these unscrupulous professionals, employers rely on major misconceptions about retirement plans that unwittingly exposes them to potential liability. So this article is about the ten wrong ideas that plan sponsors have about retirement plans and the retirement plan business.