Subject: File No. S7-15-10
From: T. Davis Sydnor, Ph. D
Affiliation: Professor Urban Forestry Ohio State Univ

October 15, 2010

Dear Sir/ Madame

I have a 403 b account and specifically looked for low fees when selecting a manager. Between 2001 and 2008 I invested in a large medium and small cap index fund. During that time, I repeatedly asked what other fees were being charged. I was given euphemistic comments such as only allowed fees as given in the perspective. Their perspective suggested that the fund was appreciating yet their reported value of my units remained relatively constant and well below their respective indexes. I could not get straight answers and switched. Additional reading suggests that allowed fees such as 12b-1 Fees are in part responsible. In my experience the service that I received from hidden fees was to hide the hidden fees and not to provide service for my benefit.

My current fund manager charges higher fees but the funds' performances seem to relate to their indexes. If the Republican Party wishes for individuals to manage their retirement funds using professional managers, fees must be transparent and reasonable. Disclosing fees in a clear and comprehendable manner is essential.

I enjoyed Greenspan's comment a while ago which suggested that the mistake he had made was to assume that the financial titans were concerned about their companies and shareholders. It seems to me that leaves avarice and greed as their interests. Fees such as the 12b-1 do not benefit me. Reduce, disclose, and eliminate fees to insure that people have a chance of meeting their retirement goals rather than maximizing the annual bonus of their financial adviser and the adviser's political party of choice.

Thanks for your time,
T. Davis Sydnor