From: BIL Bruney [bbruney@airmail.net]
Sent: Monday, April 19, 2004 4:42 PM
To: rule-comment@sec.gov
Subject: Proposed Rule (SEC file No. S7-27-03).



Dear Senators:

As a public employer, I am concerned about SEC proposals which would eliminate
the ability of my participants to place mutual fund trade orders that otherwise
would be filled on the same day. this would negatively affect our retirement
plan if the SEC's "hard 4:00 p.m. close rule" become law. I am vigorously
opposed to this proposed regulation and I wuold like the SEC to consider this
letter(via e-mail) a comment on its proposed rule (SEC File No. S7-27-03).

While my participants may be long term investors, that does not mean that they
do not care when their mutual fund trade order is processed. Participants want
the ability to change investments and or retirement plan accounts as soon as
possible and as quickly as any other investor's trades are made.  Being forced
to wait until the next day or possibly the day after could significantly affect
their returns and would make their retirement plans less attractive.  They do
not want to stretch out their trades over several days while other investors can
still trade on the same day.

I understand that this rule is suggested as a method to prevent trading after
the market closes, however, it is likely such late trades negatively affected
investments and the proposed rule would punish the masses because of the
behavior of a few.

Thanks

Sincerely,
B I L  Bruney, CPA, Director of Finance