Americans are living longer than ever and underestimating their longevity, with many living 20 to 30 years after they retire. At a time when savers need more guidance and retirees need more guarantees, the Department of Labor has proposed a regulation that would limit both. Tell Congress: Protect retirement savers.

Without changes, the Department of Labor’s proposed “fiduciary regulation” will make it harder for low- and middle-income families to save for retirement, stifle the formation of small business workplace benefit plans, and deter efforts to inform savers and retirees about the benefits of annuities—the only financial products in the marketplace that guarantee lifetime income. With 10,000 Americans retiring every day over the next 15 years, new regulation must not create obstacles for those saving and planning for retirement.

Financial advisors help millions of Americans save more, plan ahead, and protect their financial and retirement security. We want to partner with the Administration and Congress to advance common-sense fixes that protect consumers while preserving access to important retirement advice and products.

Smart regulation is key as we work toward a common goal—providing financial and retirement security for American families.

Protect retirement savers. Fix the fiduciary regulation.