I loved Oppenheimer, probably one of my favorite movies of all time. One line I love was: “They won’t fear it until they understand it and they won’t understand it until they’ve used it.” That was J. Robert Oppenheimer saying that the public won’t fear nuclear weapons until it’s used.

It reminds me of plan sponsors. They don’t understand their role as plan fiduciaries, and they won’t fear the liability until it’s threatened. I’m not talking about litigation, but a government audit.