Whose retirement is Washington protecting? NOT the middle-income earners.
The Department of Labor is pushing for a regulation that will make retirement more difficult for everyday people with moderate income. Unless you have $100K ready to invest, this regulation shuts down access to financial guidance.
Here’s why we need to take action now:
- In 2024, the most Americans in history turn 65. Most are self-funding retirement through 401(k)s and IRAs. Millions without protected income will risk running out of money.
- This regulation will prevent local financial professionals from helping most people access products like annuities, which, like pensions, provide guaranteed lifetime income.
- The regulation says people can only work with fiduciaries, who typically require their clients to have balances of $100,000 or more and usually charge ongoing fees before they will work with them. This will make financial guidance unreachable for many middle-income savers who cannot afford these account minimums and on-going fees.
Congress is reviewing legislation which funds this harmful policy. We need to TAKE ACTION and ask them to protect retirement savers.
Take Action NOW!