Rep. Kent Bentsen, D-Texas, and a group of other lawmakers are asking...

Rep. Kent Bentsen, D-Texas, and a group of other lawmakers are asking Labor Secretary Alexis Herman to investigate allegedly misleading statements by actuaries and pension consultants about cash balance pension plans and decide if disciplinary action is needed. "Several disturbing statements have come to light over the past few months in which prominent pension consultants have advocated cash balance plans as a way to hide benefit cuts,’’ Mr. Bentsen said in a press release. The letter to Ms. Herman is expected to go out sometime this week. The actuary statements at issue appear to violate the professional code of conduct, which prohibits actuaries from engaging in misleading acts or encouraging others to do so, Mr. Bentsen said. Ms. Herman, through her involvement with the Joint Board of Actuaries, has an obligation to protect workers against actuarial misconduct and discipline those who violate ethical guidelines.