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  1. Hello All, In a previous post, mention was made of having Vanguard listed as a "transfer company only" if one's board of education will not allow Vanguard to be an "official vendor" in the the board of education's plan. Thus, the responsibility would be on the part of the staff member to transfer monies out of an "approved plan vendor" into Vanguard. Does anyone know if the IRS would permit this? If so, could you reference the section of the IRS regulation that refers to this. I have just been told that Vanguard may not be in compliance as a 403b vendor and thus direct deposits will not be allowed. I will appreciate any assistance that you can offer. Thanks in advance.
  2. Hey Bangs, Check out my website at www.mcnuttmath.com and follow the links for 403(b)'s. When you get to the main 403(b) page there is a link on the left called "How I Got Vanguard." There you will find my Vanguard story. Bruce Thanks, Bruce. Now that I cannot transfer monies on my own, Equitable is requiring that my BA sign my Equitable transfer forms as well as charging a $25 fee for transfers. I am going to make another big push for the Board to accept Vanguard as a vendor. We already have an information sharing agreement on file as well as an account established. I have been hitting a brick wall since last Oct., but I will certainly be able to use your materials to pursue my quest to put Vanguard on our vendor list. Thanks again for the web site.
  3. If anyone recently acquired Vanguard as one of their 403b vendors, could you please let me know what school district you are in as well as how you were able to get Vanguard approved? Thanks in Advance.
  4. Whether or not it is required under the IRS regs isn't important if the transfer of the funds will not be approved without the administrator's signature. Many providers and plan adminstrators enforce goofy provisions on participants, e.g., the medallion guarantee requirement of some mutual funds, because they want to make it difficult for the money to be transferred. As the commerical says, just do it.
  5. My district has an account and information sharing agreement on file with Vanguard. However, I must transfer money out of my Equitable account and into Vanguard on my own. Today my completed paperwork to perform a transfer was returned to me from Equitable with a new form attached. The new form now requires that my school plan administrator sign that he approves the contribution. Equitable told me that this is required per Sec 403b Internal Revenue Code of 1986. I have never had to have my B.A. sign anything before. Vanguard states that they know of no such requirement per the law. Vanguard also stamped on the form that was returned to me and sent to Equitable by Vanguard that they have an information sharing agreement on file. Does anyone know if this is truly the law or is this something that Equitable decided to make people do. It is certainly inconvenient to have to drive 45 minutes each way to work to have a form signed in order for the transfer to take place. Thanks in advance for any assistance or advice.
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