Don’t Worry, Be Happy, is, of course, the title of Bobby McFerrin’s 1988 hit song. Since then, it’s seeped into our culture. If you want to fully incorporate it into your life, you can download the ring tone.
I’m suggesting, however, that it shouldn’t be the attitude of employers who have received 408(b)(2) service provider fee disclosures, and think that’s all there is to it.
Rather, once received, employers and other fiduciaries have the affirmative obligation to determine whether there are any conflicts of interest and whether fees are "reasonable" for the services being provided. What’s "reasonable" you’re going to ask. Stay tuned.
Bobby McFerrin is very much around these days. He tours regularly, and September13-15, 2012, he will be opening the 25th anniversary of Jazz at Lincoln Center in New York.