Balanced Military Personnel Financial Services Protection Act

To: The Honorable Senators of the United States of America

Protect the fundamental investment opportunities of military members by supporting a balanced Military Personnel Financial Services Protection Act

WHEREAS

All military members should have adequate protections balanced with the
freedom of choice and access to any investment product that is deemed suitable to their investment objectives and unique career patterns. The protections provided in the Military Personnel Financial Services Protection Act, hereto referred to as the Act, should maximize and focus on protections from unscrupulous agents, and thus barring those individuals, and not by barring products which limit options for the military consumer.

For an effective, balanced Act that more completely protects military members, the following provisions must be incorporated:

-Systematic plans must be retained to provide freedom of choice and investment options to assist military members in their retirement goals. Their investment options should not be reduced.

-Requiring those in ranks E-1 through E-3 to meet with an installation counselor.

-Creating a DoD registry of agents and the companies they represent to protect armed forces members from unscrupulous agent barring them from all installations.

-Requiring companies to provide lapse rate data on products sold that provides data on amount of purchasers that cancel their products.


WE the undersigned petition the Senate of the United States of America to refrain from enacting legislation that limits military members investment options and does not fully protect the military member from individual predators, and urge the passage of legislation that presents the aforementioned balanced protections. Furthermore, We urge the Senate to continue its full support of the Armed Services and its heroic members in all facets from strategic to support in all endeavors.