American Society of Pension Actuaries recommended that the Labor...

American Society of Pension Actuaries recommended that the Labor Department establish best practices for fiduciary conduct and promote education of fiduciaries in conjunction with the private sector. Bruce Ashton, ASPA president, emphasized the need for clear, concise fiduciary guidance in preparing written investment policy statements, as well as the best practices in what those policies should cover. He urged the Labor Department to publish educational brochures and outreach programs for fiduciaries, as well as to educate federal investigators on fiduciary responsibility issues that arise in 401(k) retirement plans.