I am a firm believer in the idea that what you see is what you should get. If you’re promised the moon, anything short of that is wrong. Some of the biggest disappointments in my life is when I was sold a bill of goods that just didn’t add up (still looking for those origination fees, Gilberg). That’s why many of the large retirement plan providers out there have a thing against me because I’m going to burst their bubble by telling you that there is no such thing as a unicorn and that the fiduciary warranty they have been promoting is most likely worthless. This article is about the worthlessness of 401(k) Fiduciary Warranties and how plan sponsors should avoid relying them as a form of liability protection.