Should the federal government be involved in retirement savings for the American people? One prominent senator seems to think so, a measure that could threaten opportunities for benefit and retirement advisers to do their jobs if enacted.

In a May 13 speech at the National Press Club in Washington, Sen. Marco Rubio (R-Fla.) — who is widely reported to be considering a 2016 presidential bid — said he plans to propose allowing Americans not covered by an employer-sponsored plan to access the federal plan that Congress uses, called the Thrift Savings Plan.

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