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teacher183

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  1. I'm a public school teacher in the bay area and went through the same hoops trying to get Vanguard added to my district's approved list. In my case, the argument was that Vanguard wouldn't sign a "hold harmless" agreement. I argued extensively with the district. The district form teachers were required to fill out included a hold harmless, so for Vanguard to do one was redundant. I also gave the HR/403 person a list of other districts in Northern California that allowed Vanguard. Vanguard was never added to the list. The ups###### (anyone know why the word "s h o t", as in up s h o t, would be consistently edited out like a swear word?) of this is that I did a frozen asset rollover out of an approved district 403 provider (Mass Mutual, don't ask...), into Vanguard. I got my money into Vanguard, but I can't make monthly contributions to it. It is a bit of a pain, but if you want to move a sizeable chunk of money and let it be, it is a viable option. In my case, I moved the money, then continued to contribute to a district approved company (in this case, American Century). Mass Mutual tried to tell me I couldn't do a frozen asset rollover, then tried to withhold penalty money. It wasn't until I threatened to go to the SEC that they released the money to Vanguard. Vanguard was very helpful with information on the frozen asset rollover.
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