Vanguard Annuity Transition to Transamerica

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Broken Man 1999
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Vanguard Annuity Transition to Transamerica

Post by Broken Man 1999 »

Just finished up setting up my Transamerica annuity login. Easy to do, worked fine.

All sub-accounts were exactly on the money, though my total amount increased by a penny. Probably different rounding scheme. So, one data point, flawless transfer for me.

I did like being able to have one login, but life goes on. I'll just set up another entry in my Accounts that you update yourself tab and update occasionally, just like I do for our Series I Savings Bonds.

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Rex66
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Re: Vanguard Annuity Transition to Transamerica

Post by Rex66 »

It appears some agents are starting to get concerned they will exit the market

https://insurance-forums.com/community/ ... ss.103897/
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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Broken Man 1999 wrote: Mon Dec 07, 2020 9:55 am Just finished up setting up my Transamerica annuity login. Easy to do, worked fine.
We have been waiting for information from Transamerica on the details to set up the account for transfer. All we have from them is a letter saying they will provide us with information on how to set up an account closer to the date - which has obviously passed.

Did you get a letter from Transamerica on how to set up the account? Wondering why we haven't received any additional instructions.

Any guidance would be appreciated.
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Re: Vanguard Annuity Transition to Transamerica

Post by Broken Man 1999 »

I received a letter dated November 13, 2020. Not sure exactly when I received it, but it was received well before last week.

If you go to transamerica.com, you can set up the online account. That info was in the letter.

Transamerica number is 800-462-2391 Mon-Thur 9am-6pm, Fri 9am-5:30pm ET.

Transamerica email is annuities.customerservice@transamerica.com

Broken Man 1999
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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Broken Man 1999 wrote: Mon Dec 07, 2020 10:27 am If you go to transamerica.com, you can set up the online account. That info was in the letter.
Thanks. Tried setting up the account and got an error message. Will have to give them a call and get it sorted out. It's good to hear that once the account is set up, everything seems as it should be.
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Re: Vanguard Annuity Transition to Transamerica

Post by Mel Lindauer »

SocalLiving wrote: Mon Dec 07, 2020 12:56 pm
Broken Man 1999 wrote: Mon Dec 07, 2020 10:27 am If you go to transamerica.com, you can set up the online account. That info was in the letter.
Thanks. Tried setting up the account and got an error message. Will have to give them a call and get it sorted out. It's good to hear that once the account is set up, everything seems as it should be.
Make sure you're well feed and rested before you call. I got the error message when trying to register and was told to call support.

Called and was on hold for 16 minutes and gave up. Called again later and got a recording telling me I could get a call back between two hours and two minutes and two hours and 29 minutes. Not a very comforting start.
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Re: Vanguard Annuity Transition to Transamerica

Post by Rex66 »

If u look at the link above you will notice agents can’t even get good support
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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Mel Lindauer wrote: Mon Dec 07, 2020 2:29 pm Make sure you're well feed and rested before you call. I got the error message when trying to register and was told to call support.

Called and was on hold for 16 minutes and gave up. Called again later and got a recording telling me I could get a call back between two hours and two minutes and two hours and 29 minutes. Not a very comforting start.
Thanks for the heads up. I guess I'm not the only one who got the error message. They are also supposed to call me back in an hour. Hopefully it will be painless to set up the account once we actually speak to a real person.
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HueyLD
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

It may be a good time to 1035 out of TransAmerica.
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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Update: Got a call back at the assigned time and a customer service rep was able to set up the online account in a few minutes.
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Re: Vanguard Annuity Transition to Transamerica

Post by Broken Man 1999 »

SocalLiving wrote: Mon Dec 07, 2020 3:27 pm Update: Got a call back at the assigned time and a customer service rep was able to set up the online account in a few minutes.
Did they tell you what the issue was?

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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Broken Man 1999 wrote: Mon Dec 07, 2020 4:52 pm Did they tell you what the issue was?
Yes. Their website was having problems connecting to the 3rd party verification site. If it failed to complete the verification process via the 3rd party credit check website, then the account registration had to be completed manually.
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Re: Vanguard Annuity Transition to Transamerica

Post by pascalwager »

Online wouldn't accept the security validation code at the very end of registering. Two-hour phone wait time, so gave up for now.

Ironically, my VA used to be at TransAm, but without online access; so I did a transfer to Vanguard. But TransAm phone service was immediate then--rarely had to wait even one minute.
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Re: Vanguard Annuity Transition to Transamerica

Post by Chuck »

Creating the account was easy, but my cost basis (if that's what they mean by "Total Premium Payments") is wrong. Actually, now that I'm looking at it, the death benefit is wrong as well. It says my death benefit is "account value" but the value shown is higher than the account value. Now that I'm thinking about it, I don't know exactly what the account balance value should be, so I guess I should check that too.
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Re: Vanguard Annuity Transition to Transamerica

Post by Chuck »

Chuck wrote: Mon Dec 07, 2020 5:25 pm Creating the account was easy, but my cost basis (if that's what they mean by "Total Premium Payments") is wrong. Actually, now that I'm looking at it, the death benefit is wrong as well. It says my death benefit is "account value" but the value shown is higher than the account value. Now that I'm thinking about it, I don't know exactly what the account value should be, so I guess I should check that too.
Also, each transaction is listed 3 times, and it says my username is "{{ userName }}" so overall it looks like things are going great.
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Re: Vanguard Annuity Transition to Transamerica

Post by Stinky »

Rex66 wrote: Mon Dec 07, 2020 10:14 am It appears some agents are starting to get concerned they will exit the market

https://insurance-forums.com/community/ ... ss.103897/
Transamerica is a really large company, owned by a huge multinational company (Aegon).

I expect that the referenced link is just idle “agent chatter”.
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Re: Vanguard Annuity Transition to Transamerica

Post by Broken Man 1999 »

SocalLiving wrote: Mon Dec 07, 2020 5:17 pm
Broken Man 1999 wrote: Mon Dec 07, 2020 4:52 pm Did they tell you what the issue was?
Yes. Their website was having problems connecting to the 3rd party verification site. If it failed to complete the verification process via the 3rd party credit check website, then the account registration had to be completed manually.
Maybe after I set up online access the site started getting hammered. I'm not going to argue with success.
Just out of curiosity, I wonder if different types of annuities had issues. Mine is a Variable Annuity.

Fortunately I printed everything out Saturday so I had all the sub-accounts balances. In fact I made a change Friday and the change was reflected in the balances of the from and to sub-accounts when I looked after setting up the online account.

My cost basis was correct, also.

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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

Broken Man 1999 wrote: Mon Dec 07, 2020 6:10 pm Just out of curiosity, I wonder if different types of annuities had issues. Mine is a Variable Annuity.
Ours is also a Variable Annuity. The cost basis and sub-accounts are all correct. I had backed everything up on Saturday and the numbers match up.
The annuity was purchased by my husband's parents as a gift, so I am not sure how the death benefit was set up. It looks like it is the value from last year's account anniversary. But, I think everything transferred over correctly.
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Re: Vanguard Annuity Transition to Transamerica

Post by Rex66 »

Stinky wrote: Mon Dec 07, 2020 6:02 pm
Rex66 wrote: Mon Dec 07, 2020 10:14 am It appears some agents are starting to get concerned they will exit the market

https://insurance-forums.com/community/ ... ss.103897/
Transamerica is a really large company, owned by a huge multinational company (Aegon).

I expect that the referenced link is just idle “agent chatter”.
It is but they haven’t been listing others
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Re: Vanguard Annuity Transition to Transamerica

Post by Sandwich »

I was able to set up an online account with Transamerica and took a quick look at the account information.

Observations -

Cost basis transferred correctly.

"View Past Values" option could be "way off" depending on the date searched. I selected the day after I made the initial (very modest) investment in 2006 and the value listed for that 2006 date appeared to be a calculation of the share price in 2006 multiplied by the current amount of shares owned. :oops:

It appears that when one wants to "rebalance", one must select a percentage to shift between two annuity funds rather than selecting a specific dollar amount as was allowed by Vanguard.
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Re: Vanguard Annuity Transition to Transamerica

Post by sambb »

My values are correct, but i surrendered one annuity and the cost basis is higher on a second. How could this be so far off?

I have feared being a victim of vanguard IT, and now im concerned.
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Re: Vanguard Annuity Transition to Transamerica

Post by Cyclesafe »

Seamless for me too.
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Re: Vanguard Annuity Transition to Transamerica

Post by pascalwager »

I seem to be partially registered--wouldn't let me re-register under the same user name. But can't login--login is locked tonight for maintenance. I'll probably still need to call in (dread) tomorrow.
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Re: Vanguard Annuity Transition to Transamerica

Post by Seasonal »

One of the elderly relatives I help had a Vanguard variable annuity.

She got letters from Vanguard about the switch, but nothing from TA.

We registered her online account with TA today. It has the policy number and a way to get historical account values, but little else, including that they do not have her address. The address edit function does not work. Registering for paperless delivery didn't work either.

I have (had?) full authorization over this account. I called the account service number and got the long wait times message and gave up after a while. I tried web services and asked for a call back. After leaving my name and pressing a key to end recording it asked me to hold for the next available agent. We shall see if they call back in the promised 2 hours 20 minutes to 2 hours 50 minutes.
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Re: Vanguard Annuity Transition to Transamerica

Post by toddphi »

Vanguard and Transamerica are both handling the transition extremely poorly.

I logged in to my Vanguard.com account this morning and found that my annuity contracts had DISAPPEARED, which briefly caused me to panic. Then I remembered about the transition. But there was NO INFORMATION AT ALL on Vanguard.com about what to do, who to call, what is the procedure to gain access to my accounts. I called Vanguard's technical support number and the representatives seemed completely unaware of the transition, and kept giving me (I called multiple times) the same number that I had used to get THEM on the phone. They seemed not to care at all about their customer's being confused. Totally absurd!!! Finally, the fourth Vanguard rep I spoke to knew about the transition and was able to give me a phone number at Transamerica. He apologized and acknowledged that things were totally screwed up.

Hey Vanguard! Would it be so hard to put up a simple message on your website that says "If you're looking for your variable annuity contracts they have moved to Transamerica and you can access them HERE (provide a link) or call Transamerica at 800-462-2391"? You've known about the transition for, what, 18 months or more. Nobody thought to put something on the website????

So I went over to Transamerica.com. Similarly, there is NO INFORMATION WHATSOEVER targeted to transitioning Vanguard customers. Nothing! Even a search of their website turns up nothing. Again, how hard would it be to put up a message with a link saying: "Welcome transitioning Vanguard Variable Annuity customers!" with information about what to do in order to set up access. When I call Transamerica the hold times are (surprise) four hours or something ridiculous.

I did receive notices in the mail that the transition would be happening, but I have received NO INFORMATION from Transamerica about what to do in order to set up online access.

Simple question: Do I set up a NEW account as if I am a new customer, or has an account been setup for me as part of the transition? There IS a link to set up a new account on the website (no mention of Vanguard, however) but is this an NEW or EXISTING account? Not sure. It would be very helpful if something from Transamerica (and Vanguard) would actually think through what the experience is like for their customers.

Does anyone know whether I'm supposed to set up a new account (as if I am a new customer, which I am not) or whether Transamerica set up accounts for me already and will provide me with login information?

Thanks!

Phil
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Re: Vanguard Annuity Transition to Transamerica

Post by Seasonal »

toddphi wrote: Tue Dec 08, 2020 11:06 am Does anyone know whether I'm supposed to set up a new account (as if I am a new customer, which I am not) or whether Transamerica set up accounts for me already and will provide me with login information?
We set it up as a new account.

I can't even find prior statements on Vanguard. Am I missing something or did they purge them?
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

Yes, Vanguard deleted all VA statements from the history.

Hopefully you have saved either the paper or electronic statements.
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Re: Vanguard Annuity Transition to Transamerica

Post by SocalLiving »

toddphi wrote: Tue Dec 08, 2020 11:06 am Simple question: Do I set up a NEW account as if I am a new customer, or has an account been setup for me as part of the transition? There IS a link to set up a new account on the website (no mention of Vanguard, however) but is this an NEW or EXISTING account? Not sure. It would be very helpful if something from Transamerica (and Vanguard) would actually think through what the experience is like for their customers.

Does anyone know whether I'm supposed to set up a new account (as if I am a new customer, which I am not) or whether Transamerica set up accounts for me already and will provide me with login information?

Thanks!

Phil
The Transamerica rep recommended the website below for creating an account
https://secure.transamerica.com/
Yes - create a new account using your social security number.
You may get an error message, or you may get lucky and be able to complete registration.
If you get an error message - call Transamerica Web Services phone #: 877-717-8858
You will be given the option of a call back in an hour or two. Chose that option instead of wastng time holding.
When they call you back, have access to your email, because they will be sending you security codes to your email to complete registration.
Once your registration is complete, you will be able to see your account.
People on this thread are reporting mixed results for accuracy of the accounts.
Good luck!
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Re: Vanguard Annuity Transition to Transamerica

Post by Papago »

Sorry, but I concur with the ranting. This is completely unacceptable customer service from both Vanguard and Transamerica.

I tried to sign-in on Transamerica without success - wouldn't let me in with my Vanguard credentials, couldn't create a new account because it said there already was one, then sent me an email saying my user ID was my SSN, but then attempts to sign-in with that as user ID it said that user ID wasn't recognized. Customer service ph# allowed callback in 2 hours, and that guy was a bit perplexed at first but then figured it out, giving me a temp password (over the phone, which seemed weird). Finally was able to access account, BUT...

Account is all messed up: (1) There are 2 additional Transamerica accounts listed but clicking on them only leads to clocking. I assume these are dormant / closed accounts from years before; and more importantly (2) whereas with Vanguard my wife and I were co-owners (with different last names), the variable annuity account in Transamerica is now listed as being only in my wife's name, with she and I being 50% beneficiaries. Huh? How do you get the ACCOUNT OWNERSHIP INFO wrong?

There's no way to contact customer service except by phone and no option for callback. I've now been on hold for 1 hour 17 minutes listening to interminable hold music interrupted by "Your call is important to us, please wait for the next representative," without any info as to how long I'll have to continue to wait.

This is unbelievable. I would initiate a 1035 exchange to Fidelity right now, but know I need to clean up the account ownership with Transamerica before I could do that.
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Re: Vanguard Annuity Transition to Transamerica

Post by hirlaw »

The transition worked out fine for me. Although, I find the Transamerica site to be a bit "clunky."
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Re: Vanguard Annuity Transition to Transamerica

Post by Kompass »

Yikes! Very glad I got Mother out of this in January. Best of luck to all.
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Re: Vanguard Annuity Transition to Transamerica

Post by LadyGeek »

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Re: Vanguard Annuity Transition to Transamerica

Post by pascalwager »

pascalwager wrote: Mon Dec 07, 2020 5:22 pm Online wouldn't accept the security validation code at the very end of registering. Two-hour phone wait time, so gave up for now.

Ironically, my VA used to be at TransAm, but without online access; so I did a transfer to Vanguard. But TransAm phone service was immediate then--rarely had to wait even one minute.
I realized this morning that I was entering the wrong code number yesterday and was supposed to go to my email for the correct code. But I don't think the instructions were clear either.

But still, basically my fault!
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Re: Vanguard Annuity Transition to Transamerica

Post by Papago »

Papago wrote: Tue Dec 08, 2020 1:19 pm Sorry, but I concur with the ranting. This is completely unacceptable customer service from both Vanguard and Transamerica.

I tried to sign-in on Transamerica without success - wouldn't let me in with my Vanguard credentials, couldn't create a new account because it said there already was one, then sent me an email saying my user ID was my SSN, but then attempts to sign-in with that as user ID it said that user ID wasn't recognized. Customer service ph# allowed callback in 2 hours, and that guy was a bit perplexed at first but then figured it out, giving me a temp password (over the phone, which seemed weird). Finally was able to access account, BUT...

Account is all messed up: (1) There are 2 additional Transamerica accounts listed but clicking on them only leads to clocking. I assume these are dormant / closed accounts from years before; and more importantly (2) whereas with Vanguard my wife and I were co-owners (with different last names), the variable annuity account in Transamerica is now listed as being only in my wife's name, with she and I being 50% beneficiaries. Huh? How do you get the ACCOUNT OWNERSHIP INFO wrong?

There's no way to contact customer service except by phone and no option for callback. I've now been on hold for 1 hour 17 minutes listening to interminable hold music interrupted by "Your call is important to us, please wait for the next representative," without any info as to how long I'll have to continue to wait.

This is unbelievable. I would initiate a 1035 exchange to Fidelity right now, but know I need to clean up the account ownership with Transamerica before I could do that.
Still haven't gotten through by phone, even after 2 hours on hold - couldn't take it anymore.

Went back to the website and somewhere found a way to leave a written message - it gave me options that my inquiry was either about the first likely dormant account OR the second dormant account OR a third retirement account that didn't have an account number (could only choose one) - I'm assuming this 3rd choice, the one without any listed acct#, is the transferred Vanguard VA.

I wrote out the message asking to be contacted, explaining my concerns, but when tried to submit, repeatedly got an "error - your message has NOT been sent," without explanation as to what the error was. I finally clicked that the inquiry was about one of the dormant accounts and not the 3rd account, since these had actual acct#s (though different than the dormant accounts listed in details section - there's so much wrong here). Finally, the message went through.

Went back into details of the account. Guess what? - they had reverted back to a mailing address we last had in 2004. I had changed this earlier in the day to our current address, but somehow that change didn't take despite notice earlier in the day that it had.

Last, but not least, on the login page https://www.transamericaannuities.com/Login/Login.aspx it has a banner that says "You are using an outdated browser. To maximize your experience while on this site, we suggest a quick upgrade to one of these browsers," with icons that include Safari. This is while I'm using the latest version of Safari. Superb!

I'm honestly shocked at this level of incompetence, esp when there's this much money involved. This is a $600,000 account.

My megacorp uses Workday for HR needs - it's terrible. Now this experience with Transamerica. Going forward I will beware of any financial product that is advertised on a PGA Tour pro's shirt / hat.
Last edited by Papago on Tue Dec 08, 2020 4:49 pm, edited 1 time in total.
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

I called the 1-800-462-2391 number and have been stuck on hold for an hour as of this writing.

I managed to create an online account, but some of the account information does not look correct or complete.

Geez, there is no one working there!
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Re: Vanguard Annuity Transition to Transamerica

Post by minesweep »

Kompass wrote: Tue Dec 08, 2020 1:38 pm Yikes! Very glad I got Mother out of this in January. Best of luck to all.
I got out the Monday before the transfer occurred (my brother did as well). We inherited an annuity back in April of this year. Because the CARES act waived our RMD's for 2020 we decided getting out of the annuity was a good substitute (rather then spreading it over the next 5 years). We also inherited a small TIRA. I'm taking the entire balance out of the TIRA this month. The total of the annuity and TIRA is about the amount I would have been required to take for the 2020 RMD. Because of the cost basis 27% of the annuity proceeds won't be taxable.
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

Some employee finally answered the phone near 6 p.m. ET but said that she only dealt with whole life. So she transferred me to the VA department but that department was closed for the day.

The service is so bad that it is totally unacceptable. I think the time has arrived to 1035 this VA out of TransAmerica. Should have done it last year.
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Re: Vanguard Annuity Transition to Transamerica

Post by littlebird »

I think I’ll wait ‘til everything calms down. I made a hard copy of my account last month.

Just as a reference point, I have another VVA that I’ve already annuitized, and Transamerica has been doing a very competent job of servicing it. If the first of the month is a Monday, the money is in my account on the previous Friday.
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Re: Vanguard Annuity Transition to Transamerica

Post by Seasonal »

How much is TA charging (on top of fund fees) for variable annuities?

The web site rather unhelpfully discloses: The performance in the below third party factsheets do not reflect the deduction of the fees and expenses associated with an annuity. IF THE FEES AND EXPENSES HAD BEEN INCLUDED, THE PERFORMANCE WOULD BE LOWER.

https://www.transamerica.com/financial- ... t-options/

Is Fidelity the preferred alternative (it seems to be the most mentioned in this thread) ? What does Fidelity charge?
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HueyLD
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

Yes, go with Fidelity Personal Retirement Annuity.

https://www.fidelity.com/bin-public/060 ... ochure.pdf
Seasonal
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Re: Vanguard Annuity Transition to Transamerica

Post by Seasonal »

I can't seem to find Transamerica's variable annuity fees for the assets transferred from Vanguard. What do they charge?

Fidelity's fees:

0.25% for contracts purchased with an initial investment of less than $1 million (or which have not yet accumulated $1 million)

0.10% for contracts purchased with an initial investment of $1 million or more (or which have accumulated $1 million or more)

www.fidelity.com/FPRA

My elderly relatives variable annuity is invested in Vanguard short-term investment grade, which has an expense ratio of 0.20%. The closest I can find at Fidelity has an expense ratio of 1.04%. In both cases, plus annuity fees. That's a big spread.
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

I have a several year old VVA prospectus and it says 0.3% annual annuity charge for the bare one version (no optional riders).
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Re: Vanguard Annuity Transition to Transamerica

Post by Oicuryy »

Money is fungible | Abbreviations and Acronyms
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HueyLD
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

Seasonal wrote: Tue Dec 08, 2020 7:26 pm I can't seem to find Transamerica's variable annuity fees for the assets transferred from Vanguard. What do they charge?

Fidelity's fees:

0.25% for contracts purchased with an initial investment of less than $1 million (or which have not yet accumulated $1 million)

0.10% for contracts purchased with an initial investment of $1 million or more (or which have accumulated $1 million or more)

www.fidelity.com/FPRA

My elderly relatives variable annuity is invested in Vanguard short-term investment grade, which has an expense ratio of 0.20%. The closest I can find at Fidelity has an expense ratio of 1.04%. In both cases, plus annuity fees. That's a big spread.
There are index funds in their annuity portfolio and the ER on index funds are very low.
Seasonal
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Re: Vanguard Annuity Transition to Transamerica

Post by Seasonal »

HueyLD wrote: Tue Dec 08, 2020 7:56 pm
Seasonal wrote: Tue Dec 08, 2020 7:26 pm I can't seem to find Transamerica's variable annuity fees for the assets transferred from Vanguard. What do they charge?

Fidelity's fees:

0.25% for contracts purchased with an initial investment of less than $1 million (or which have not yet accumulated $1 million)

0.10% for contracts purchased with an initial investment of $1 million or more (or which have accumulated $1 million or more)

www.fidelity.com/FPRA

My elderly relatives variable annuity is invested in Vanguard short-term investment grade, which has an expense ratio of 0.20%. The closest I can find at Fidelity has an expense ratio of 1.04%. In both cases, plus annuity fees. That's a big spread.
There are index funds in their annuity portfolio and the ER on index funds are very low.
My relative is in her mid-90s and does not have much appetite for risk. The only bond index fund (0.14% ER) has a weighted average maturity of 7 years, which seems long for her. If she were much younger, it would be quite suitable.
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Mel Lindauer
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Re: Vanguard Annuity Transition to Transamerica

Post by Mel Lindauer »

Seasonal wrote: Tue Dec 08, 2020 6:41 pm How much is TA charging (on top of fund fees) for variable annuities?

The web site rather unhelpfully discloses: The performance in the below third party factsheets do not reflect the deduction of the fees and expenses associated with an annuity. IF THE FEES AND EXPENSES HAD BEEN INCLUDED, THE PERFORMANCE WOULD BE LOWER.

https://www.transamerica.com/financial- ... t-options/

Is Fidelity the preferred alternative (it seems to be the most mentioned in this thread) ? What does Fidelity charge?
Supposedly, TA is charging the same as Vanguard did (at least for the time being).
Best Regards - Mel | | Semper Fi
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HueyLD
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Re: Vanguard Annuity Transition to Transamerica

Post by HueyLD »

From the TransAmerica prospectus linked up thread:

“ Fee Table

The following Fee Table illustrates all expenses that you would incur as a Contract Owner. The purpose of this Fee Table is to assist you in understanding the various costs and expenses that you would pay directly or indirectly as a purchaser of the Contract. The first table describes the fees and expenses that you will pay at the time you purchase the Contract, surrender the Contract, or transfer cash value between investment options. State premium taxes may also be deducted. For a complete discussion of Contract cost and expenses, see Expenses.

OWNER TRANSACTION EXPENSES

Sales Load Imposed on Purchases .......................................................................................................... None Surrender Fees ......................................................................................................................................... None Exchange Fees ......................................................................................................................................... None State Premium Tax (See Premium Tax)...................................................................................0.00% to 3.50%

The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including the investment portfolios’ fees and expenses.

SEPARATE ACCOUNT ANNUAL EXPENSES1 (as a percentage of average account value)

Annual Contract Maintenance Fee2 ............................................................................................................. $25 Accumulated Value Death Benefit
Mortality and Expense Risk Charge3,4..........................................................................0.20%
Administrative Expense Charge ......................................................................................................... 0.10%
Total Separate Account Annual Expenses ............................................................................... 0.30%

OPTIONAL RIDER FEES

Return of Premium Death Benefit5,6 ........................................................................................................0.20% Return of Premium Death Benefit (No Longer Available for New Issues)6,7 ...........................................0.05% Annual Step-Up Death Benefit (No Longer Available for New Issues)6,8 ................................................ 0.12% GLWB Rider (annualized rate—% of Total Withdrawal Base attributable to premium payments and
transfers into designated investments on or after May 1, 2013)9:
Maximum ............................................................................................................................................ 2.00% Current ................................................................................................................................................ 1.20%
GLWB Rider (annualized rate—% of Total Withdrawal Base attributable to premium payments and transfers into designated investments prior to May 1, 2013)9: .........................................................0.95%”
wesgreen
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Re: Vanguard Annuity Transition to Transamerica

Post by wesgreen »

I created an account without problems yesterday, when everyone else was on the site as well. But the death benefits for my two variable annuities should be account balances, iirc. Not the the higher amounts listed instead. Now I'll have to spend my time looking into this. :confused
A quick look at Fido fees and sub - account ERs shows that I could save money changing over.
ginrummy
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Re: Vanguard Annuity Transition to Transamerica

Post by ginrummy »

Either Transamerica is getting an abnormal amount of internet traffic or their website is just not that responsive. Didn't expect this.

I was able create an account just fine but navigating and getting the pages to load...whew. Totals are correct. At least we get access to the same Vanguard Funds. I think I'll wait and see if things settle in and navigating becomes easier. Specifically I'm seeing things like this Name: {{ userName }} and Submit buttons that don't execute. I'm trying to update a mailing address. Website won't respond. I have two accounts with them. It doesn't seem to switch between accounts successfully. But they do get the Rate of Return and Past Values processed pretty quickly. That's an interesting feature I don't think was available on Vanguard's website.

Going to wait and see.
pascalwager
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Re: Vanguard Annuity Transition to Transamerica

Post by pascalwager »

I was told the sub-account values update at 9:30 am.

I don't see the actual policy or cost basis--no documents.

Where do you see your cost basis?
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