yakers
Thinks s/he gets paid by the post
Further to Nords comments on library service and others comments on Vanguard and other financial service companies I have just had an interesting exchange with Vanguard. My wife has been attempting to get her 403b transferred to Vanguard for over a month. Her 403b company keeps saying, hey, VG hasn’t asked for any money yet. The initial VG rep was really dysfunctional and gave advice that had we not be conscious would have cost a lot. He said, no problem, have them send you a check and then send it to us. Now this is not an IRA transfer, it is a transfer from a 403b account. If we had a check issued we would have been taxed and would not have been able to put this money into the IRA.
The second VG rep could not have been better. He spent at least a half hour getting the forms we need filled out from the web and called the insurance company the 403b is with and confirmed everything that needed to be sent to both parties to initiate the transfer. This is a bit complicated because we do not want to transfer all the 403b funds initially to avoid surrender fees.
Anyway it is interesting whether it is a national or local government or a commercial representative it is amazing how different service can be from one agent to the next. And the more you know about a given transaction the better you can avoid really damaging incorrect information.
The second VG rep could not have been better. He spent at least a half hour getting the forms we need filled out from the web and called the insurance company the 403b is with and confirmed everything that needed to be sent to both parties to initiate the transfer. This is a bit complicated because we do not want to transfer all the 403b funds initially to avoid surrender fees.
Anyway it is interesting whether it is a national or local government or a commercial representative it is amazing how different service can be from one agent to the next. And the more you know about a given transaction the better you can avoid really damaging incorrect information.