This is for folks that are currently or may wish to invest in Vanguard 
in their 403b plans.

Hi,
You have probably received a letter (or will soon) from the university 
stating that they will no longer work with Vanguard.  I called Vanguard 
to get their side of the story - which differs (of course) from the 
university's take.

After I called Vanguard, I then called  and spoke to Sherry Sims to hear 
the university's take. As far as I'm concerned neither side is totally 
in the right and I hope others pressure both sides to come to an 
agreement so that we are not deprived of this option.

Over the years, I have watched the list of 403b options dwindle from  
several page of good and mediocre choices to a single page with only 
Fidelity and TIAA CREF as reasonable choices (IMHO).  Losing Vanguard is 
unacceptable.  There is a way to work around this problem by investing 
in an approved vendor and then doing a systematic withdrawal - why 
should it have to come to this!

Apparently, there are also issues with the contract: Vanguard and UT 
legal can't seem to come to an agreement.  This seems ridiculous: 
Vanguard has contracts with many employers and for legal to claim 
problems with the IRS makes NO SENSE.  Could the egos please take a back 
seat to the needs of the employees?

Sherry Sims in the benefits office (865) 974-4341 is documenting 
employee reaction. I spoke with Roger Sherman 
([log in to unmask]).  Neither of these people are actually  
involved in the decision making process.  But they report to those that 
are. mm

* UTCSTAFF home page:  http://raven.utc.edu/archives/utcstaff.html *
* unsubscribe:  mailto:[log in to unmask]  *
*   subscribe:  mailto:[log in to unmask]    *