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Rtngolf

Vanguard Getting Out Of 403b7 Not

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Hello everyone There is alot of rumors that vanguard won't comply with the new regs or is getting out of the 403 b buisness. I hate rumors so I emailed vanguard and asked.

1. Is vanguard getting out of the 403b buisness?

2. If question 1 answer is no, what are you doing in regards to the new regs?

 

thay responded with the following:

 

 

As you may know, the final regulations released on July 23, 2007 impose new

requirements on transfers, including one requirement that employers and

service providers enter into an information sharing agreement in order for

a transfer to be completed. Please rest assured that we intend to comply

with these regulations and will do our best to work with our clients and

their employers regarding the same. We expect to adopt the information

sharing agreement currently under development by the Investment Company

Institute (ICI), which is the trade group for the mutual fund industry. We

anticipate this form will meet the needs of its member firms, as will as

the clients and employers whom they serve and expect it to be finalized by

September 24, 2007. After its finalization, a copy of the information

sharing agreement will be forwarded to the Authorized Individual listed on

your 403(b)(7) plan.

 

Hope this puts some rumors to sleep

 

Rich

 

 

 

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Good Work.

I am not worried about Vanguard. Its my school district that is so hard nosed stupid that no sane mind could sign their agreement.

Thanks,

Steve

 

 

 

I have a few of the same worries. Seems are Buisness office takes the path of least resistance which does not always bode well for our teachers

 

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Good Work.

I am not worried about Vanguard. Its my school district that is so hard nosed stupid that no sane mind could sign their agreement.

Thanks,

Steve

 

 

 

I have a few of the same worries. Seems are Buisness office takes the path of least resistance which does not always bode well for our teachers

 

 

 

That is promising. I too have the same worries, that my district will not accept their form. Janus sent me back "their" form yesterday and my district is "looking" at it but has already stated that they probably will not accept it. They want the provider to sign our form only. So far that leaves us with Horace Mann, American Funds, AXA and Valic.

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