Americans saving for retirement often follow the “buy and hold” strategy, urging them to block out the daily volatility of markets, stick to long-term investment plans, and avoid playing stockbroker. The stock market’s growth over the last 15-20 years proves why that approach makes sense despite financial crises, geopolitical conflict, and fiscal showdowns.

However, laws on the books in most states, if not properly reformed, could jeopardize the retirement nest eggs of those who saved and invested in a responsible manner.