Vanguard 403b Changes

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Mickey7
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Re: Vanguard 403b Changes

Post by Mickey7 » Fri Jul 21, 2017 9:56 pm

I don't know, but I am k-12 in Texas. Probably should call.

duuuuuude
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Re: Vanguard 403b Changes

Post by duuuuuude » Sat Jul 22, 2017 12:33 am

Wife and I hold 403b accounts at vanguard as well (teachers).

Got the letters yesterday.

We've only been allowed to buy investor shares after we signed up.

Anyone know how soon we'll be able to exchange investor shares for admiral?

I just logged in to try to exchange and it still says "Admiral shares may not be held in this type of account".

Also, do the target retirement funds differentiate between investor and admiral shares?

Thanks!

Nate79
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Re: Vanguard 403b Changes

Post by Nate79 » Sat Jul 22, 2017 12:50 am

duuuuuude wrote:Wife and I hold 403b accounts at vanguard as well (teachers).

Got the letters yesterday.

We've only been allowed to buy investor shares after we signed up.

Anyone know how soon we'll be able to exchange investor shares for admiral?

I just logged in to try to exchange and it still says "Admiral shares may not be held in this type of account".

Also, do the target retirement funds differentiate between investor and admiral shares?

Thanks!
Vanguard does not have admiral shares for their target retirement mutual funds.

pretzelfisch
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Re: Vanguard 403b Changes

Post by pretzelfisch » Sat Jul 22, 2017 2:17 am

Mickey7 wrote:Just returned from vacation and received my letter from Vanguard. So of course I jumped to the forum to see what the gist of the matter was. I only opened my Vanguard account a couple of months ago to see how it stacked up with the 403b I have had for the last several years to see which performed best. (As you can see I am a relative newbie at this.) I only found out that I could access Vanguard after calling the Texas Retirement System and not the district. Needless to say Vanguard is smoking what I have in my other 403b.
While I am somewhat upset to find that it will now cost me an extra $120 a year (2 accounts Wellington and Equity Income), I will now receive Admiral fees for both. In looking at an increased cost I looked at my other fund, which is more expensive and not as productive, Vanguard still comes out ahead. I will be moving this fund over to Vanguard and dividing it equally to both approximately $15,000 to each.
Regarding the fee, all I can do is hope for good returns. The option at staying with Oppenheimer is not as good by my calculations.
I think that after retirement the fund can be moved to an IRA. Am I correct on this?
do you have 2 vanguard 403(b) or the fee is for the 403(b) not each vanguard fund you invest in.

Mickey7
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Re: Vanguard 403b Changes

Post by Mickey7 » Sat Jul 22, 2017 11:11 am

I had divided my 403b into the 2 funds and therefore assumed that the fee applied to each. I will call and repost Monday if the $60 fee is only for the one 403b, and doing so with a smile if it is.

Thrifty Investor
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Re: Vanguard 403b Changes

Post by Thrifty Investor » Sat Jul 22, 2017 1:33 pm

Vanguard's letter says the $5 per month charge will never go up. When I opened the account, Vanguard told me there would be no fee at all. In other words, things change. Vanguard changes. So what is to prevent Vanguard in a couple of years telling us the $5 per month fee will be rising? What will stop it from sending us a new letter trumpeting some new "enhancements" and stating they are raising the monthly charge to $10 or $15?

I like Vanguard. That's why I have invested my life savings with the company. However, I am not about to become an apologist for Vanguard. I feel the company did me wrong by instituting this new program with the Newport Group. Vanguard is bailing on me. It's turning over my financial records, etc to a third party and it has given me no choice. If I want to continue investing my 403b account with Vanguard I must swallow hard and accept the move to the Newport Group and also pay $5 a month to participate in a new scheme that I am not in favor of.

Vanguard tarnished itself by doing all of this and dragging existing account holders into it without obtaining any feedback from us. It obviously planned this scheme for many months, if not years, before uttering a single word to any of us. I would have preferred the option of staying with what I have or transitioning to the Newport Group. For a major investment company such as Vanguard to need to get the Newport Group involved in the affairs of its account holders is a stretch for me.

I will save about $750 a year through a move to Admiral shares status. The move will cost me $60 per year as of now. But, just because I am net positive doesn't mean I like what Vanguard did. In fact, I really detest what Vanguard did and it's something that will forever tarnish the company in my eyes.

zack907
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Re: Vanguard 403b Changes

Post by zack907 » Sun Jul 23, 2017 12:24 am

pyld76 wrote:
Thrifty Investor wrote:Vanguard sickened me with these 403b changes. I have $1.4 million directly with the company and another $400,000 invested in Wellington through the NYS Deferred Compensation Plan and I would love to withdraw it all from Vanguard after these changes.

I received the letter today announcing the $5 monthly fee and the switch to Newport. To say I am outraged would be an understatement. I don't like the direction that Vanguard is moving in.

I am personally responsible for at least 200 co-workers and friends establishing accounts with Vanguard and I am regretting it today. The company has a lot of nerve pulling this on longtime investors.
If you have a 1.4 million in a VG 403b, you are likely to save upwards of $1000/year in expenses merely by getting access to Admiral share classes. It should more than offset the 60 bucks.

My DW got the letter. She doesn't have enough to make a grand/year difference, but on balance the ability to access Admiral shares is going to save 3-4x the $60.

With that said, I think it's a crap move on Vanguard's part. They are touting it as an enhancement. It's going to smack the little guy and early saver hard. And it's not like most teachers aren't already facing a raw deal,with the sorry state of most 403b plans. If DW had access to anyone else's index products at a decent price in her plan, I'd be sorely tempted to move.
Just because you have 1.4 million with Vanguard doesn't mean that you have 1.4 million in the 403b. As a teacher, we already have a large portion of our checks taken out for pension and I fully contribute to my ROTH IRA before contributing to my 403b. I save much more than most people with my income, so I would imagine that most governmental employees' 403bs are far too small to make the savings for Admiral shares worthwhile.

letsgobobby
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Re: Vanguard 403b Changes

Post by letsgobobby » Sat Aug 05, 2017 10:00 am

We never got a letter so there must be a subset or some definition of "Vanguard 403b's" which is not applicable in our case. DW had a choice of using either Vanguard or TIAA funds in her 403b, but Vanguard manages the Vanguard funds (Viewable in her online profile) whereas TIAA manages the TIAA funds. Yet she did not receive any letter.

We're disappointed this hasn't impacted us yet. Even paying $60 for her 403b and $60 for her 401a would have let us access Admiral shares and cut the ER by ten basis ponts on her $300,000 or so in holdings, for a net savings of $300-$60-$60 = $180 per year.

Separately we've tried to persuade her employer for years to offer Vanguard Admiral shares as Vanguard has previously told us when the plan is over a certain total amount, Admiral shares are available for the asking, but her employer replied with a somewhat haughty tone that it was confident it already offered an excellent plan...
Last edited by letsgobobby on Sun Aug 06, 2017 1:25 pm, edited 1 time in total.

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djmbob
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Re: Vanguard 403b Changes

Post by djmbob » Sun Aug 06, 2017 8:18 am

What burns me about the Vanguard action is lack of transparency. I convinced my church to initiate a Vanguard 403b plan for church employees 6 months ago in March. Never a word was said that Vanguard was in the process of making such a move. Yes, a notch (or two) down for me too. :x

EdLaFave
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Re: Vanguard 403b Changes

Post by EdLaFave » Sun Aug 06, 2017 11:23 am

letsgobobby, are you invested in Vanguard as a vendor or are you simply buying Vanguard funds through another vendor. If it is the former then this new structure will impact you. If is the latter then this new structure will not impact you. For example I own Vanguard funds through Security Benefit's NEA DirectInvest, which means none of this will impact me.

djmbob, I spoke to the Vanguard folks in charge of the 403b around May maybe because I'm trying to add them to a school district. They told me that they were working on something that would impact 403b plans but they weren't allowed to provide details. They're now giving people who will be affected by these changes months of warning before the changes go live. I'm happy with the level of transparency. Announcing deals before they've been finalized, and can therefore fall through, is just bad business.

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Re: Vanguard 403b Changes

Post by krow36 » Mon Sep 11, 2017 11:52 pm

Scott Dauenhauer is a CFP who has worked for many years on improving the K-12 403b. His blog on the Vanguard 403b change is worth a read.
http://teachersadvocate.blogspot.com/20 ... anges.html
Vanguard has informed Scott that they are moving non-ERISA plans of under 20M to the Newport Group. Most K-12 school districts would not have as much as 20M in a Vanguard 403b partly due to the many vendors allowed to participate.

As Steve Schullo and others have pointed out, the K-12 403b world is very different from the higher-ed 403b world. The latter usually has an ERISA plan, while K-12 districts very rarely do. In the K-12 403b world, the district usually allows many providers to offer what is usually a generic plan. Most districts do absolutely no vetting of the products offered by the venders on their 403b or 457 lists. Universities can bargain with a single provider to lower fees and the larger the plan, the greater the leverage.

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Vanguard 403b Fee Increase

Post by Snuffycuts99 » Fri Sep 22, 2017 8:46 am

[Thread merged into here, see below. --admin LadyGeek]

We just received a letter from Vanguard yesterday regarding the 403b annual fee increase from $15 to $60. I realize there are benefits to those holding multiple funds and that you also get Admiral shares, but we're certainly a bit disappointed by this. It will take many years for us to reach the 'break even' point where the savings from Admiral shares will outweigh the annual fee increase. We only hold one fund in the account. At least the fund we hold has Admiral shares...I'd be even more upset if we held a fund that didn't offer Admiral shares. Oh well, still much, much better than the other options the employer offers.

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Re: Vanguard 403b Fee Increase

Post by rkhusky » Fri Sep 22, 2017 12:28 pm

Snuffycuts99 wrote:
Fri Sep 22, 2017 8:46 am
We just received a letter from Vanguard yesterday regarding the 403b annual fee increase from $15 to $60. I realize there are benefits to those holding multiple funds and that you also get Admiral shares, but we're certainly a bit disappointed by this. It will take many years for us to reach the 'break even' point where the savings from Admiral shares will outweigh the annual fee increase. We only hold one fund in the account. At least the fund we hold has Admiral shares...I'd be even more upset if we held a fund that didn't offer Admiral shares. Oh well, still much, much better than the other options the employer offers.
If the difference between Investor and Admiral is 0.1%, e.g. Total Stock Market, then you would need about $45K to reach the breakeven point. But I know folks who would be willing to pay a few hundred to have access to Vanguard's Admiral shares, since their cheapest option has an ER in excess of 1%.

Snuffycuts99
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Re: Vanguard 403b Fee Increase

Post by Snuffycuts99 » Fri Sep 22, 2017 1:49 pm

Yea, I was thinking the break even point would be about 50k. My wife just started contributing and she puts in about 5k per year. So, depending on market returns, could be close to a decade before we reach that point. But, to your point, most of the other options are downright terrible. Front load funds with high ER. So, all in all, I'm thrilled with what I've got. But, I'm a BH, so every dollar I lose, I hate.

bigdav160
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Re: Vanguard 403b Changes

Post by bigdav160 » Fri Sep 22, 2017 7:11 pm

It appears this change is happening soon.

I received a letter today stating that there will be a blackout period from November 3 to November 6

Everything should be running by November 13

stannius
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Re: Vanguard 403b Changes

Post by stannius » Fri Sep 22, 2017 8:37 pm

The blackout period begins Nov 3rd and continues through *the week* of Nov 6th. I.e. through Nov 13th. I don't know why they wrote it so confusingly.

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Re: Vanguard 403b Changes

Post by LadyGeek » Sat Sep 23, 2017 8:28 am

I merged Snuffycuts99's thread into here, the on-going discussion.
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dkview
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Re: Vanguard 403b Changes

Post by dkview » Sat Oct 14, 2017 12:34 pm

Who has gotten their investor shares converted to admiral shares already? I'm still waiting.

sil2017
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Re: Vanguard 403b Changes

Post by sil2017 » Sat Oct 14, 2017 3:02 pm

Mine was all converted from Individual to Admiral Shares on October 5, 2017

Soporific
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Re: Vanguard 403b Changes

Post by Soporific » Sun Oct 15, 2017 8:59 am

Mine also were converted to Admiral shares on 10/5.

Regarding mickey7's post above (July 22) with a single 403b account with two different mutual funds: I also have a 403b account with two different mutual funds. I messaged Vanguard regarding this and a rep called me back. He assured me that the two different mutual funds I own within my 403b account would only generate a single monthly 403b account charge, not an account charge for each mutual fund.

ginya
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Re: Vanguard 403b Changes

Post by ginya » Mon Oct 23, 2017 4:17 pm

I'm so glad to find this forum topic. I'm wondering if anyone else has this issue and if so, whether you've talked to anyone at Vanguard to confirm how this will be handled.

My husband's employer typically makes the contributions to his 403b7 at Vanguard in the first week of the month, which in November will be during the blackout period. In the information I received from Vanguard, it said that contributions won't be made during the blackout period. However, it said nothing about how they plan to handle these contributions that I imagine are pretty automated by employers with people in these plans.

We messaged Vanguard and were told to ask my husband's employer if they could hold off on making the contribution then. There's no way that's happening - they employ over 10,000 people. Then I called the number given in the 403b7 transition information, and the person I spoke to was very nice but had no idea. He thought the contributions would probably be held in suspension at Vanguard and then made after the blackout period. He put me on hold to confirm this but never came back on the line, and I finally gave up. Before I called back, wondering if anyone else has asked about this. I would imagine that many people are paid around the first of the month and would be in this situation.

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Re: Vanguard 403b Changes

Post by ResearchMed » Mon Oct 23, 2017 4:34 pm

ginya wrote:
Mon Oct 23, 2017 4:17 pm
I'm so glad to find this forum topic. I'm wondering if anyone else has this issue and if so, whether you've talked to anyone at Vanguard to confirm how this will be handled.

My husband's employer typically makes the contributions to his 403b7 at Vanguard in the first week of the month, which in November will be during the blackout period. In the information I received from Vanguard, it said that contributions won't be made during the blackout period. However, it said nothing about how they plan to handle these contributions that I imagine are pretty automated by employers with people in these plans.

We messaged Vanguard and were told to ask my husband's employer if they could hold off on making the contribution then. There's no way that's happening - they employ over 10,000 people. Then I called the number given in the 403b7 transition information, and the person I spoke to was very nice but had no idea. He thought the contributions would probably be held in suspension at Vanguard and then made after the blackout period. He put me on hold to confirm this but never came back on the line, and I finally gave up. Before I called back, wondering if anyone else has asked about this. I would imagine that many people are paid around the first of the month and would be in this situation.
Our 403b Employer contributions always land just about this time of month, but that's a separate issue (when others get theirs).

What is your questions, really?
I mean, what are the choices?
Best guess, the money will either already be there as usual when you can access the accounts, or it might be in a money market fund, in which case you'd need to move it, or... it will arrive very soon thereafter (*very* soon, as there are deadlines for money to be transferred, so they can't string it out for a long time).

Are you concerned the money won't get transferred that month?

RM
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ginya
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Re: Vanguard 403b Changes

Post by ginya » Wed Oct 25, 2017 10:16 am

ginya wrote: ↑Mon Oct 23, 2017 5:17 pm
I'm so glad to find this forum topic. I'm wondering if anyone else has this issue and if so, whether you've talked to anyone at Vanguard to confirm how this will be handled.

My husband's employer typically makes the contributions to his 403b7 at Vanguard in the first week of the month, which in November will be during the blackout period. In the information I received from Vanguard, it said that contributions won't be made during the blackout period. However, it said nothing about how they plan to handle these contributions that I imagine are pretty automated by employers with people in these plans.

We messaged Vanguard and were told to ask my husband's employer if they could hold off on making the contribution then. There's no way that's happening - they employ over 10,000 people. Then I called the number given in the 403b7 transition information, and the person I spoke to was very nice but had no idea. He thought the contributions would probably be held in suspension at Vanguard and then made after the blackout period. He put me on hold to confirm this but never came back on the line, and I finally gave up. Before I called back, wondering if anyone else has asked about this. I would imagine that many people are paid around the first of the month and would be in this situation.
Our 403b Employer contributions always land just about this time of month, but that's a separate issue (when others get theirs).

What is your questions, really?
I mean, what are the choices?
Best guess, the money will either already be there as usual when you can access the accounts, or it might be in a money market fund, in which case you'd need to move it, or... it will arrive very soon thereafter (*very* soon, as there are deadlines for money to be transferred, so they can't string it out for a long time).

Are you concerned the money won't get transferred that month?

RM
This signature is a placebo. You are in the control group.
Thanks, RM. I imagine you're right and the money will be there in one form or another. However, my concern is that Vanguard can't tell me what's going to happen. In the information they sent us, they told us we didn't need to do a thing. However, it also says "No contributions will be made to your account during this time [the blackout period]." This seems like a pretty basic issue for which they should have an extremely straightforward answer and which, frankly, should be detailed in the letter they send and in their FAQs about this whole thing (it's not).

It concerns me because it's not clear how they are communicating/coordinating with employers who participate in the plan. An improbable but not impossible scenario (since Vanguard isn't telling me otherwise) is that the contribution bounces back to my husband's employer because there is a glitch in Vanguard receiving the money during the blackout period and we have to deal with the hassle of straightening it ourselves. We are Flagship level, and I'm so used to Vanguard having excellent customer service and being clear when giving out information. So this is disconcerting. I probably need to escalate my questioning of Vanguard. Wanted to check here first to see if anyone else had run into this.

We are also experiencing the issue that even though the blackout period hasn't started, we haven't been able to make exchanges from one Admiral Fund to another in the 403b7 since they converted from Investor to Admiral. Just keep getting error messages essentially saying that "Admiral funds aren't allowed in this type of account" even though the Admiral funds are showing up online as having the money in them. Have messaged about that, too, but no word yet from Vanguard.

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Re: Vanguard 403b Changes

Post by Rupert » Wed Oct 25, 2017 10:29 am

ginya wrote:
Mon Oct 23, 2017 4:17 pm
I'm so glad to find this forum topic. I'm wondering if anyone else has this issue and if so, whether you've talked to anyone at Vanguard to confirm how this will be handled.

My husband's employer typically makes the contributions to his 403b7 at Vanguard in the first week of the month, which in November will be during the blackout period. In the information I received from Vanguard, it said that contributions won't be made during the blackout period. However, it said nothing about how they plan to handle these contributions that I imagine are pretty automated by employers with people in these plans.

We messaged Vanguard and were told to ask my husband's employer if they could hold off on making the contribution then. There's no way that's happening - they employ over 10,000 people. Then I called the number given in the 403b7 transition information, and the person I spoke to was very nice but had no idea. He thought the contributions would probably be held in suspension at Vanguard and then made after the blackout period. He put me on hold to confirm this but never came back on the line, and I finally gave up. Before I called back, wondering if anyone else has asked about this. I would imagine that many people are paid around the first of the month and would be in this situation.
My guess is that the funds would be held in the plan's settlement fund, which is usually a money market fund, until the blackout period ends, at which time the funds would be distributed to each employee's account in the plan. That's what happened when my employer switched 403b providers a few years back.

ginya
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Re: Vanguard 403b Changes

Post by ginya » Wed Oct 25, 2017 7:28 pm

Thanks, Rupert. I pushed to get a definitive answer from Vanguard today and they are handling similar to how you and RM suggested they might be. I'm sharing their answer in case anyone else has the same question I did.

Response from Vanguard rep:
"I contacted our 403(b)7 team who informed me that contributions that are
received during the blackout period will be held and posted to your account
after the blackout period has ended.

Employers participating in this type of account have been notified of these
changes and should be aware of the new address and dates for the blackout
period."

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Re: Vanguard 403b Changes

Post by Soporific » Sun Oct 29, 2017 8:03 am

A point of info for anyone considering final tweaks to their 403b holdings prior to the blackout date. I held a mixture of Index 500 and Index Extended in my 403b, and as I noted above these were converted to Admiral shares earlier in the month. I decided to simplify and convert all my 403b holdings to Total Stock Index (in Admiral shares of course), but when I tried to execute this on the website I was told I could not hold Admiral shares in my 403b. I messaged Vanguard about this, and a rep called me back and noted that Vanguard is aware of this bug in their website processing, and that he would be happy to execute this transaction manually for me, which he did in about two minutes. So if you want to complete any trades in your 403b prior to the blackout and own Admiral shares, you'll need to message or call Vanguard rather than use the website. Your friendly rep will be happy to help you with this.

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Re: Vanguard 403b Changes

Post by alpenglow » Mon Oct 30, 2017 1:13 pm

Soporific wrote:
Sun Oct 29, 2017 8:03 am
A point of info for anyone considering final tweaks to their 403b holdings prior to the blackout date. I held a mixture of Index 500 and Index Extended in my 403b, and as I noted above these were converted to Admiral shares earlier in the month. I decided to simplify and convert all my 403b holdings to Total Stock Index (in Admiral shares of course), but when I tried to execute this on the website I was told I could not hold Admiral shares in my 403b. I messaged Vanguard about this, and a rep called me back and noted that Vanguard is aware of this bug in their website processing, and that he would be happy to execute this transaction manually for me, which he did in about two minutes. So if you want to complete any trades in your 403b prior to the blackout and own Admiral shares, you'll need to message or call Vanguard rather than use the website. Your friendly rep will be happy to help you with this.
I encountered the same problem. I wonder when this will get fixed. Now that admiral shares are available, I wanted to break-out my LS Growth into it's respective funds. Good thing I'm paying an extra fee for this great service. :?

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Re: Vanguard 403b Changes

Post by VINNY » Wed Nov 01, 2017 2:25 pm

Newport does not accept contributions via ACH. They will have to be mailed in just like it was done with Vanguard :(

dkview
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Re: Vanguard 403b Changes

Post by dkview » Wed Nov 01, 2017 6:14 pm

VINNY wrote:
Wed Nov 01, 2017 2:25 pm
Newport does not accept contributions via ACH. They will have to be mailed in just like it was done with Vanguard :(
Where did you get that information about Newport from? My contribution goes into my Vanguard account within 3 days after I get my pay-stub and I don't think that happens if it was mailed.

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Re: Vanguard 403b Changes

Post by VINNY » Fri Nov 03, 2017 7:41 am

dkview wrote:
Wed Nov 01, 2017 6:14 pm
VINNY wrote:
Wed Nov 01, 2017 2:25 pm
Newport does not accept contributions via ACH. They will have to be mailed in just like it was done with Vanguard :(
Where did you get that information about Newport from? My contribution goes into my Vanguard account within 3 days after I get my pay-stub and I don't think that happens if it was mailed.
I called Newport and spoke with a rep. She told me contributions were not accepted electronically but by mail only. I hope she was wrong and based on your response, I will call back today to verify if I was given bad info.

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Re: Vanguard 403b Changes

Post by sschullo » Fri Nov 03, 2017 9:38 am

VINNY wrote:
Fri Nov 03, 2017 7:41 am
dkview wrote:
Wed Nov 01, 2017 6:14 pm
VINNY wrote:
Wed Nov 01, 2017 2:25 pm
Newport does not accept contributions via ACH. They will have to be mailed in just like it was done with Vanguard :(
Where did you get that information about Newport from? My contribution goes into my Vanguard account within 3 days after I get my pay-stub and I don't think that happens if it was mailed.
I called Newport and spoke with a rep. She told me contributions were not accepted electronically but by mail only. I hope she was wrong and based on your response, I will call back today to verify if I was given bad info.
OMG! There must be a misunderstanding.
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Re: Vanguard 403b Changes

Post by alpenglow » Fri Nov 03, 2017 10:42 am

Contributions by carrier pigeon only. The $5/month helps offset the cost of the pigeons.

In all seriousness, I can't imagine that this applies to 403b contributions through a TPA.

FWIW, I'm printing out my current 403b statement, balances, and history. I know how Vanguard has a habit of "losing" accounts on occasion.

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Re: Vanguard 403b Changes

Post by dkview » Mon Nov 06, 2017 9:16 pm

So, has anything changed yet for anyone who logged in online? I do notice a new 403b section.

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Re: Vanguard 403b Changes

Post by LadyGeek » Wed Nov 08, 2017 10:01 pm

I moved a few posts which asked about missing Vanguard 403(b) accounts into a new thread: [Vanguard 403b missing from my login account]
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Re: Vanguard 403b Changes

Post by fsrph » Thu Nov 09, 2017 1:31 pm

dkview wrote:
Mon Nov 06, 2017 9:16 pm
So, has anything changed yet for anyone who logged in online? I do notice a new 403b section.
Today I received an email confirmation from Vanguard about transactions I supposedly made yesterday. The transactions were for multiple 403b distributions. I did not submit any transactions. Since I'm traveling and occasionally use wifi I immediately called Vanguard. They said it was part of this move to Newport and the transactions were legitimate. What made it confusing is all that was listed is 403b distributions with no mention of where they went. Check your accounts and look for these 403b distributions

Francis .
Last edited by fsrph on Thu Nov 09, 2017 1:56 pm, edited 1 time in total.
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alpenglow
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Re: Vanguard 403b Changes

Post by alpenglow » Thu Nov 09, 2017 1:52 pm

I posted in the other thread about receiving the same confirmations. I think Vanguard should have been more clear in communicating about this transaction notification.

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ruralavalon
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Location: Illinois

Re: Vanguard 403b Changes

Post by ruralavalon » Tue Nov 14, 2017 11:57 am

*3!4!/5! wrote:
Fri Jul 14, 2017 11:06 pm
This actually sounds like a completely normal fee for this kind of account. There are legitimate costs to be covered, and it is fair to pay for them. It sounds like an unfair subsidy is being removed. . . .
. . . . .
I know it sucks to suddenly have a new fee, but I really think it's fair and reasonable.
I agree, this is a necessary service, and it's reasonable to charge for this service.

No one should believe that other fund firms perform this service and don't charge for it in some way.
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Innate Distress
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Re: Vanguard 403b Changes

Post by Innate Distress » Tue Nov 14, 2017 6:03 pm

Ever since the switch to Newport Group, Quicken refuses to update my account. Has anyone had success updating their Vanguard 403b Quicken account such that it automatically downloads transactions?

dkview
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Re: Vanguard 403b Changes

Post by dkview » Tue Nov 14, 2017 8:54 pm

So, my investor shares have not been converted to admiral shares yet. I went to try to convert it to admiral shares by selling the investor shares and buying the admiral shares but I have no option for it. It shows my current asset allocation with all the investor shares that I have but when I go into the rebalancing/exchange option, it does not show any investor shares that is available to exchange. Is anyone having this issue?

n00b
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Re: Vanguard 403b Changes

Post by n00b » Tue Nov 14, 2017 10:34 pm

Innate Distress wrote:
Tue Nov 14, 2017 6:03 pm
Ever since the switch to Newport Group, Quicken refuses to update my account. Has anyone had success updating their Vanguard 403b Quicken account such that it automatically downloads transactions?
Afraid we are in the same boat. I was able to get an account listing but the 403b doesn't seem to be in the list. I wonder if access will be implemented later, via Newport Groups, or not at all?

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alpenglow
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Re: Vanguard 403b Changes

Post by alpenglow » Wed Nov 15, 2017 10:16 am

Just a data point - all of my funds have been exchanged to Admiral funds, the new 403b site is working for me, and the two transactions that should have posted during the blackout period have now posted.

cusetownusa
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Re: Vanguard 403b Changes

Post by cusetownusa » Wed Nov 15, 2017 10:48 am

The transition seemed to have worked for us. However, the account no longer gets updated by Mint which kind of stinks.

CHG
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Re: Vanguard 403b Changes

Post by CHG » Sat Nov 18, 2017 8:43 am

cusetownusa wrote:
Wed Nov 15, 2017 10:48 am
The transition seemed to have worked for us. However, the account no longer gets updated by Mint which kind of stinks.
Gratefully, it looks like Mint has picked up our 403b accounts again.

n00b
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Re: Vanguard 403b Changes

Post by n00b » Sat Nov 18, 2017 9:01 am

CHG wrote:
Sat Nov 18, 2017 8:43 am
Gratefully, it looks like Mint has picked up our 403b accounts again.
I still don't see it in the Quicken listing, can you tell if the Mint download is via Vanguard, Newport Group, or something else?

Also, for other Mint users, Did you need to make any adjustments or did it just start working again?

Thanks!

CHG
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Re: Vanguard 403b Changes

Post by CHG » Sat Nov 18, 2017 7:34 pm

I emailed Mint Support about the problem, and they reported that my 403b balance should be visible again. When I log in, it shows my old VG 403b as closed, and a new VG account with the correct 403b balance from Vanguard. It must be pulling from VG, b/c it appeared on its own using my regular VG login credentials. It is not coming from the Newport Group.

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