Author Topic: Vanguard added as 403(b) vendor  (Read 1253 times)

Old Ball Coach

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Vanguard added as 403(b) vendor
« on: November 28, 2019, 04:08:04 PM »
So excited to say that Vanguard has been added as a 403(b) vendor to our district. My current vendor charges 1% to "manage" MY money each year. Vanguard rep says it'll now be $60/year! Big savings!

Anyone else have Vanguard as a 403(b) vendor at their school/organization? Your thoughts on them? Our rep did say that we will not be able to "link" login access from my IRA and taxable to my 403(b) account.

Arbitrage

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Re: Vanguard added as 403(b) vendor
« Reply #1 on: December 02, 2019, 08:27:23 AM »
I have a 403(b) with Vanguard - it's no longer the active plan due to changes at work, but the assets are still there; we weren't able to roll the assets over when the plan closed, and I'll have to wait until separation.

Login is the same as for my other accounts.  Guess your plan could be set up differently? 

thece1ebrity

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Re: Vanguard added as 403(b) vendor
« Reply #2 on: December 02, 2019, 08:58:24 AM »
I started at a new district closer to home this year and was pretty happy to see of the three 403b vendors they have, Fidelity is one of them.  I already rolled over my 403b money from my previous district into a Vanguard IRA. 

As for my 457, I'm sad to say there is only one vendor offered: AXA who I hear is not great. 

BrightFIRE

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Re: Vanguard added as 403(b) vendor
« Reply #3 on: December 02, 2019, 11:55:24 AM »
We have Vanguard, but they got out of actually administering the 403bs in 2017 - it's handled by a company called Newport Group. You will still see the balance number in your overall assets page on Vanguard, but to see any details, like transactions, performance, contributions, etc. you get taken to a popup window. This info is also excluded from any of Vanguard's tracking data.

So you can login once and see everything from one place, but you can't use all the features.

Here's a Bogleheads thread with more info about the custodian change if you're interested https://www.bogleheads.org/forum/viewtopic.php?t=223355

Old Ball Coach

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Re: Vanguard added as 403(b) vendor
« Reply #4 on: December 02, 2019, 06:35:00 PM »
Yes, the rep from Vanguard that I have e-mailed back and forth with did say that the Newport Group will be the actual ones administering the plan. I believe they are the ones that charge the $5/month fee. Please correct me if I'm wrong.

Now, when you sign up, do you just put in the % you would like in each fund or can you change that from your login at any time? And do you need the $3,000 minimum for the funds?