Jan. 14, 2020
Vanessa A. Countryman, Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-0609 Re: File Number S7-22-19 January 14, 2020 Dear Ms. Countryman: Thank you for accepting comments on the rules change regarding the appropriate role of proxy advisory firms. As you are certainly aware, proxy advisor firms are a point of contention among investors. On one hand there are those pension funds and some individual investors who appreciate the socially minded policies these firms seem to value when making recommendations to fund managers. On the other hand, there are a lot of us who invest our hard-earned money to see it grow and making decisions using my money without the intent of maximizing growth does not set well with me. I served as a firefighter in my community for 30 years, retiring just this past summer. I have always cared about the strength of my union and the Ohio Police and Fire Pension Fund because I know that these are the sort of benefits that are attractive to hardworking men and women interested in public service. If these firms are permitted to make recommendations that prioritize a social or political agenda over returns, the stability and long-term value of the Ohio Police and Fire Pension Fund will undoubtedly be jeopardized. Many police and firefighters sacrifice pay during our working years for the assurance of a strong retirement through our pension. Absent that strong pension, the pool of promising candidates for police and fire jobs in our communities will be compromised and in the end we all lose. I hope the changes to how proxy firms are regulated will be able to reverse the damage of social investments and allow pension funds like ours here in Ohio to flourish. Sincerely, Bob Magee Berea, Ohio