The financial services industry touts H.R. 4294, the “Strengthening Access to Valuable Education and Retirement Support Act of 2015” (or SAVERS Act) and its companion bill, H.R. 4293, the “Affordable Retirement Advice Protection Act,” as offering a more workable alternative to achieve the Department of Labor’s (DoL) goal of ensuring the investment advice retirement savers receive is in their best interest. While the bills include some provisions that on the surface appear to be consistent with this goal, other conflicting provisions cancel out all of the legislation’s apparent protections. As a result, H.R. 4294 and H.R. 4293 would further entrench the harmful practices the DoL rule proposal is intended to address. Working families and retirees who struggle to afford a secure and independent retirement deserve better.