Don Trone offered testimony as a part of the DOL's working group on fiduciary education and training in retirement plans.
"Mr. Trone suggested that the Department of Labor should form a committee of investment fiduciary experts to draft a handbook or similar materials on prudent investment practices. A standing committee would be able to adjust investment practice standards in response to changes in our knowledge and understanding of investments. Such a committee could also address ethical issues. Such standards--which Mr. Trone suggests would be a sort of best practices approach--would not have the force of regulations, but could be used to assist training organizations in developing curricula and other training materials. Mr. Trone indicated that the Foundation is ready, willing and able to assist the Department with its educational and training efforts."