Subject: File No. DF Title II - BD Liquidation
From: Stephen Ackerman

September 9, 2010

Dear sir or madam,
401k plans serve the brokerages and employers more than the employees because if the high expense fees and turnover costs, also the kickbacks between the management. The 401k implementers do not hold to any feduciary duty to the employees, some 401k plans are horrible.
Solution: "require" 401k plans to offer low
cost "index" funds which do not provide the unnecessary profits to brokerages and employers at the employees expense. These should include "TOTAL stock market index funds (VTSMX,FSTMX, PEXMX),TOTAL international index funds (PIEQX, FSIIX, VGTSX), and TOTAL bond funds (VBMFX, FBIDX, PBDIX). The businesses do not include the index funds because they are not as profitable for them.
And to include fines for individuals who have not and are not doing their feduciary duties towards employees.
The arbitration and legal system is protecting the brokers and employers concerning this matter because it was set up to do so. There is no legal recourse because of the paperwork management requires the client/employee to sign, tyhis paperwork shopuld be changed thus allowing the management to be held accountable, individually and the businesses should be held accountable.
Please correct this obvious and criminal situation that benefits the criminals who have paid the government officials off.
Thank you.