March 11, 2004
I cannot begin to tell you how I applaude your efforts in developing the proposed forms for 529 expense disclosure. I placed funds in 529s for our sons shorter after they became available, and it was extrordinarily difficult to extract the expenses for each class of share from the various providers. It was impossible for me discern the breakdown of fees between the broker, the intermediary agent and the plan administrator. In the current environment of mutual fund scandals, anything you can do to make the consumer more informed and more easily able to follow the expenses of their investment is greatly appreciated.
Barry L. Fields, M.D.