Subject: File No. 4-619
From: Edward Dinaro, CFP

August 17, 2012

Chairman Schapiro
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090

Dear Chairman Schapiro:

"Never mind the fact that the majority of 401K's offer as a stable no risk investment -money markets! They are the only safe or safest investment choice in a 401K.

If this legislation is passed then a 401K will contain risk only investments. This flies in the face of prudent financial planning and inadvertently offers an investment product/service that favors the 401K vendor rather than serving the accountholder. What is worse is that the 401K is blessed by the government and considered a qualified plan. What a mess !


Edward Dinaro, CFP