myCPE

The Next 401(k) Scandal 1 Credit 1 Credit

Nov 09, 2022, 10:00 AM ET

The Next 401(k) Scandal 1 Credit 1 Credit

  • Rating

    4.4

  • Published on

    December, 1969

  • Subject Area

    Finance

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Nov 09, 2022, 10:00 AM ET

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 

Course Overview

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.

Click here for more webinars on Finance.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

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
Finance for Chartered Financial Analyst (CFA) 1 PL Eligible
Finance 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
Finance for Retirement Income Certified Professional (RICP) 1 CE Eligible
Certified Plan Fiduciary Advisor (CPFA)/Qualified Plan Financial Consultant (QPFC) 1 CE Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Wealth Management Certified Professional (WMCP) 1 CE Eligible
Finance for Financial Services Certified Professional (FSCP) 1 CE Eligible
Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) 1 CE Eligible
Finance for Chartered Special Needs Consultant (ChSNC) 1 CE Eligible
Finance for Chartered Advisor in Senior Living (CASL) 1 CE Eligible
Finance for CIPM 1 PL Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
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
Finance for Chartered Financial Analyst (CFA) 1 PL Eligible
Finance 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
Finance for Retirement Income Certified Professional (RICP) 1 CE Eligible
Certified Plan Fiduciary Advisor (CPFA)/Qualified Plan Financial Consultant (QPFC) 1 CE Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Wealth Management Certified Professional (WMCP) 1 CE Eligible
Finance for Financial Services Certified Professional (FSCP) 1 CE Eligible
Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) 1 CE Eligible
Finance for Chartered Special Needs Consultant (ChSNC) 1 CE Eligible
Finance for Chartered Advisor in Senior Living (CASL) 1 CE Eligible
Finance for CIPM 1 PL Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

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.

About Instructor

Ronald Surz - CE/CPE/PL Credits for CPA (US), CVA, CFA

Ronald Surz

President, Target Date Solutions

  • 4.3
  • rating
  • rating
  • rating
  • rating
  • rating

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

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (52%)

Very Good (35%)

Average (11%)

Poor (1%)

Terrible (1%)

SB

Steven Blake, CPA (US)

5

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.

DR

Daniel Regan, CPA (US)

5

Very good & useful information, well presented, and shows both sides of the argument. For anyone who has money in a 401K.

Recommended Courses

Healthcare in Retirement - Retirement University Workshop 1

May 12, 10:00 AM ET

  • AFSP
  • CRTP
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CLU
  • Maryland Tax Preparer
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • LTC
  • IA LPA
  • ME LPA
  • DE LPA
  • CAP

Passive Activities & Rental Real Estate Income Tax Issues

May 12, 10:00 AM ET

  • AFSP
  • CRTP
  • CFP® (US)
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • Maryland Tax Preparer
  • CPFA/QPFC
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • LTC
  • IA LPA
  • ME LPA
  • DE LPA

Retirement Issues for Individuals (2024-25)

May 12, 11:30 AM ET

  • AFSP
  • CRTP
  • CFP® (US)
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • Maryland Tax Preparer
  • CPFA/QPFC
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • LTC
  • IA LPA
  • ME LPA
  • DE LPA

A Guide to Fundamental Qualified Plan Requirements - Part 1

May 12, 12:00 PM ET

  • AFSP
  • CRTP
  • CFP® (US)
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CLU
  • Maryland Tax Preparer
  • ERPA
  • CPFA/QPFC
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • QKA
  • CFIRS
  • CWS
  • LTC
  • IA LPA
  • ME LPA
  • DE LPA
  • JBEA
  • CAP
  • QKC
  • QPA
  • CPC
  • APM
  • NQPA
  • (k)RS
  • TGPC
  • CPSP

Retirement Issues for Small Business (2024-25)

May 13, 09:00 AM ET

  • AFSP
  • CRTP
  • CFP® (US)
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CLU
  • Maryland Tax Preparer
  • CPFA/QPFC
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • LTC
  • IA LPA
  • ME LPA
  • DE LPA
  • CAP

Understanding Social Security - Retirement University Workshop 2

May 13, 09:30 AM ET

  • CPA (US)
  • CFA
  • CPA/PFS
  • TEP
  • ChFC
  • CLU
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • IA LPA
  • ME LPA
  • DE LPA
  • CAP

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker

    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders

    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access

    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support

    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

Exclusive mobile
app for our unlimited
access subscribers

Get Started with Unlimited Learning

Select your plan, complete your payment, and access a world of knowledge.

Subscription Inclusions Silver Gold
15,000+ Hrs of CPE approved Content
tooltip

Largest content library covering all aspects of professional development.

500+ Emerging Subject Areas
tooltip

Wide range of subject areas tailored to meet diverse learning needs of all the department of the firm.

50+ State- Specific Ethics Courses
tooltip

Stay compliant with ethics requirements for every state.

50+ State Compliance Packages
tooltip

Pre-selected courses for quick compliance, saving time and effort.

100+ Advanced Certification Programs
tooltip

Expert-led programs to build advanced expertise and strengthen your career credentials.

AICPA Eligibility Programs (CFF, ABV, PFS)
tooltip

Pre-Packaged Eligibility Courses for AICPA designations such as PFS, ABV, and CFF, offering CPE credits upon completion.

Compliance Tracker and Credit Vault
tooltip

Store all your certificates in one place, stay compliance-ready with ease, and track your progress effortlessly using the built-in credit tracker.

Instant Certification and Fast Reporting
tooltip

Instant reporting to IRS, CFP Board, and other governing bodies.

Mobile App Access (iOS and Android)
Access to Communities
tooltip

Join communities tailored to your specific interests and areas of expertise.

Access to Practical Training Programs
tooltip

Focused training with pre-built assessments for all levels to upskill your staff efficiently.

Select Tenure

Start Your Subscription 

Start your journey towards learning and compliance.

card

$299$199 For 12 Months

Start Your Subscription

$299$199/year

Secure unlimited access

Click Here

More Reasons to Subscribe

  • true true
    80% of Content Rated 4.5+ Stars
    High-quality content rated by professionals.
  • true true
    4X More Content at 1/3rd the Price
    Serious value compared to your regular provider!
  • true true
    Non-Sponsored Content
    Purely educational, unbiased content for your learning.
  • true true
    Monthly & Quarterly Updates
    Keeping you ahead of trends and changes.
  • true true
    Podcasts with Industry Leaders
    Learn and Earn CPE from experts on the go.