Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, Please do everything possible to protect the retirement income of people who have worked their entire lives, and saved to provide a proper income for the remainder of their lives. Millions of Americans like me are counting on our IRAs, 401(k)s and other retirement accounts for a secure financial future and we've worked hard to build and grow our savings. We should be able to trust our financial advisers to put our interests first. But loopholes in the current law make it easy for many advisers to take advantage of hard-working Americans and line their own pockets with our retirement savings. Hidden fees and bad advice costs Americans billions of dollars every year, and we deserve better. Please close this loophole and ensure a higher standard than the currently proposed rule. Hold anyone who gives financial advice genuinely accountable for helping everyday Americans choose the best investments for us, our families, and our future. We don't need or want a standard that just makes our brokers and bankers richer. I'm counting on you to make a stronger rule that closes the loophole. Americans who've worked hard to save for retirement deserve peace of mind about their financial security. And while you are considering this issue, please also look at the high costs and low quality of nursing home care, that depletes the resources of seniors all over the country. We need a better solution than what we now have, which makes nursing home owners extremely wealthy at the cost of all our resources, and then makes the states we live in pay that same extraordinary rate once we are impoverished. No person should have to reach the poverty level due to a need for medical care, and no person should be denied the ability to go home because the people who will benefit most from keeping them in the nursing home (the ones who are making money from it) are also the people who are deciding if the patient is capable of going home - if you see any motivation there for them to allow people to go home, you have a better imagination than I have! Sincerely, Ms. Susan Lynch