The Next 401(k) Scandal

  • Accountant
  • CPA (US)
  • CVA
  • CFA
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • CPFA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Most are familiar with the excessive fee scandal in 401(k) plans, as documented in books like David Loeper’s Stop the 401(k) Rip-Off (Bridgeway Books, 2007), and the PBS television exposes’ The Retirement Gamble, aired on April 23, 2013. This scandal took years to be addressed. Books and videos did not work but lawsuits did -- sticks work, but not carrots. There’s another 401(k) scandal that has emerged in the past decade, compounding the widely publicized excessive fee disgrace.

This new scandal is not well documented…yet.  Target date funds have rapidly attracted $3 Trillion despite their iniquity. Class-action lawsuits are on the horizon for excessive risk in Qualified Default Investment Alternatives (QDIAs), specifically target-date funds and balanced accounts, when the next market correction occurs as is likely sometime in this decade.

By contrast, fiduciaries are responsible for choosing the best products for their dependents, which includes appropriate fees and meaningful risk management. The excessive fee scandal is being resolved in court and has resulted in required disclosures under DOL rule 408(b)2.

Major topics covered by Ronald Surz in this online CPE course:

  • Why Baby Boomers will be the victims
  • How congressional inquiry identifies the scandal
  • Why wall street is NOT interested in baby boomer well-being? It's interested in their $60 trillion

Baby boomers are in the crosshairs of an irrecoverable disaster in the following market correction, a correction that many believe will happen in this decade. Even if the outlook were rosy, baby boomers in the Risk Zone should be protecting their life savings.

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Learning Objectives

  • To determine the Risk Zone and Sequence of Return Risk
  • To recognize the risk in QDIAs for those near retirement.
  • To distinguish between procedural prudence and substantive prudence
  • To list actions that baby boomers should take to protect themselves 

Recommended For

This Finance CPE course is recommended for CPAs, CFAs, CVAs, CSAs, and Other Finance Professionals advising clients on financial planning matters.

Who Should Attend?

  • Accountant
  • Assistant Controllers
  • Business Owner
  • CEO
  • Certified Public Accountant (CPA)
  • Certified Senior Advisor
  • Certified Valuation Analysts
  • CFO/Controller
  • CPA (Industry)
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Pros
  • Financial Planner
  • Finanical Analyst
  • Personal Financial Specialist
  • Senior Accountant
  • Wealth Management Advisor
  • Wealth Planner
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 PL Credit of Finance for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 1 CPE Credit for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper
  • 1 CE Credit for Certified Plan Fiduciary Advisor (CPFA)
  • 1 CPD Credit for Personal Financial Specialist (PFS)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Ronald Surz

President, Target Date Solutions

Ronald J. Surz is president of PPCA Inc. and its division, Target Date Solutions. He is a pension consulting veteran, having started with A.G. Becker in the 1970's. Ron earned an MBA in Finance at the University of Chicago and an MS in Applied Mathematics at the University of Illinois.

He has published regularly in such publications as The Journal of Wealth Management, The Journal of Investing, Journal of Portfolio Management, Pensions & Investments, Senior Consultant, HorsesMouth and the IMCA® Monitor, as well as contributed to and edited several books. Ron's most recent book is Fiduciary Handbook for Understanding and Selecting Target Date Funds: It's All About the Beneficiaries. Ron has served as a member of the following boards and councils:

  • City of San Clemente Finance Committee
  • Investor/Consultant Subcommittee of the Global Investment Performance Standards (GIPS) Executive Committee, established by the CFA Institute
  • Investment Management Consultants Association® (IMCA®) Board of Directors
  • IMCA® Monitor (newsletter) Editorial Board
  • IMCA® Standards of Practice Board Chair
  • Cainsoft Advisory Board
  • FinanceWare.com Advisory Board
  • Association for Investment Management & Research (AIMR) After-Tax Subcommittee
  • Risk-Controlled Growth (RCG) fund-of-hedge-funds Investment Committee
  • Sortino Investment Advisors Advisory Board
  • Capital Market Consultants Advisory Board
  • President of the Southern California Chapter of IMCA®
  • Rockwater Hedge LLC Advisory Board

About Company

Target Date Solutions

The Baby Boomer Investing Show is live streaming on YouTube and LinkedIn every other Tuesday. Google it please

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

355 Ratings

Excellent

183

Very Good

134

Average

31

Poor

5

Terrible

2

SB

Steven Blake, CPA (US)

Aug 26th, 2021

Very interesting presentation, and very logical. You can see where these problems/issues are coming from, and I believe that they are truly problems. I will review, since I do have some of these funds. Thank you for a very good presentation.

DL

Diana Lamoree

May 4th, 2022

Good content. Appreciate the different point of view from some of my colleagues.

PR

Pam Rossi, CPA (US)

Jun 9th, 2022

It really made me think about my personal 401K. Very interesting!

DF

David Frankel, Accountant, CPA (US)

Aug 26th, 2021

The content was a bit scary, but very interesting.

CB

Constance Byers, CPA (US)

Aug 27th, 2021

Very interesting perspective on the topic

401k Scandal live CPE webinar

FREE

1 Credit

Subject Area

Finance

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