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PUBLIC SUBMISSION

As of: July 16, 2015

Received: July 12, 2015

Status: Pending_Post

Tracking No. 1jz-8jxr-z9v4

Comments Due: July 21, 2015

Submission Type: Web

Docket: EBSA-2010-0050

Definition of the Term ‘‘Fiduciary’’; Conflict of Interest Rule—Retirement Investment Advice; Notice of

 proposed rulemaking and withdrawal of previous proposed rule.

Comment On: EBSA-2010-0050-0205

Definition of Fiduciary; Conflict of Interest Rule-Retirement Investment Advice and Related Proposed

 Prohibited Transaction Exemptions; Hearing and Comment Period Extension

Document: EBSA-2010-0050-DRAFT-2073

Comment on FR Doc # 2015-14921

Submitter Information

Name: John Concerned Citizen

General Comment

1) There will always be a segment of society that will fail to plan their retirement thus becoming a burden upon

 society in their later years of life. It is not the responsibility of government to legislate their security. The Social

 Security Trust was established to help contributing members of society in the Autumn years of their life. If,

 however, one fails to work/contribute (to Social Security) during their life/career then it should be their own

 "undoing" and ultimately left to their local town and church to provide help to them. We must categorize people

 as either "contributors" or "users/takers" first. Then of those "users/takers" further define these folks as "selfishopportunists", "lazy", "mentally-challenged", "mentally-ill". The "selfish-opportunists" and "mentallychallenged" can be enticed to contribute with supervised simple labor in small organized groups (no work, no

 pay, no rewards). The "mentally-ill" folks can be diagnosed as "dangerous or non-dangerous" to separate those

 that can contribute in some way to society (hand packaging, simple assembly, etc.). The "mentally-ill"

 diagnosed as a danger to society should remain in a controlled environment away from society.

2) Government & the IRS penalize working people for saving for the future by taxing interest on savings. This is

 outright dis-incentivizing people from saving for the future. Washington's solution is to cut benefits, raise

 retirement age, etc. (basically penalize the innocent) when it is Washington that has repeatedly dipped into the

 SSTrust Fund time and again. Encourage people to save by eliminating taxes on savings & investments (limit

 income brackets at say $300,000). Social Security is in trouble simply because of several abuses....government

 incompetent spending, giving benefits to those not entitled, and government not incentivizing working & saving.

Bottom line, Washington must keep the Social Security Trust fund "OFF LIMITS"....Stop treating it as a "ponzischeme" that government threw Madoff in prison for doing....

Government can spend endless time with "what-if" scenarios in search of the "perfect utopian society" but in the

 final analysis this is but an unattainable expectation (in reality). America is dis-incentivizing work and saving

 for Americans retirement. Also America has NO "organized mental healthcare" program to deal with the

 mentally ill people. It starts here....encourage and incentivize all Americans to contribute (work), pay taxes, and

 save for the future. Endeavor to incentivize all Americans to work and save....lastly, Washington needs to get
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 serious about responsible spending and even themselves.....learn to save!!!