Congress is Reviewing Target Funds 1 Credit
Learning mode
A target date fund (TDF) – also known as a lifecycle, dynamic-risk, or age-based fund – is a collective investment scheme, often a mutual fund or a collective trust fund, designed to provide a simple investment solution through a portfolio whose asset allocation mix becomes more conservative as the target date (usual retirement) approaches
On May 6, 2021, Senator Patty Murray, D-Wash., Chair of the Health, Education, Labor, and Pensions (HELP) Committee, and Rep. Robert C. “Bobby” Scott, D-Va.), Chair of the House Education and Labor Committee, sent a letter to Gene Dodaro, Comptroller the GAO. They seek answers to 10 questions dealing with concerns that some aspects of TDFs may place American retirement savers at risk.
They wrote:
“…we write to request the General Accountability Office (GAO) conduct a review of target-date funds (TDFs). The employer-provided retirement system must effectively serve its participants and retirees, and we are concerned certain aspects of TDFs may be placing them at risk.”
At $2.5 trillion and growing, TDFs are the biggest deal in defined contribution savings plans but despite their popularity, most are very risky even at the target date. TDFs for people retiring near 2010 lost 30% in 2008 and the next shock could be much worse.
Key topics covered in this online Finance CPE webinar:
Click here to access CPE courses on Trust, Estate, and Financial Planning.
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Personal Financial Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Retirement Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Retirement Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Retirement Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Finance for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Retirement Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Retirement Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Retirement Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Retirement Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Retirement Planning for CIPM | 1 PL | Eligible |
| Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
Credit
1
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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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.
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:
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