Transamerica Retirement Solutions (Transamerica), Baltimore, Md., recently released a white paper that stresses the importance of the education policy statement as a crucial component of retirement plan fiduciary management.
The paper titled. "Creating an Education Policy Statement" strives to spur advisors to make use of the education policy statement as a natural extension of the Investment Policy Statement.
Providing detailed structure for the plan's employee education efforts while establishing parameters and benchmarks to measure progress, the education policy statement, while not required by the Employee Retirement Income Security Act, is an important tool for administering a plan and assessing its performance.
