Helping people build long-term financial certainty is more important than ever. Congress recognized this and expanded worker access to lifetime income options for retirement savings in two landmark, bipartisan retirement bills in the last three years. Enhanced consumer protections that safeguard access have been adopted in 40 states.
A new federal regulation like fiduciary would undermine this progress and build a barrier to financial inclusion. Middle-income savers need protection and access, not policies that would limit their options.