freeport wrote:
The 4/16/24 Vanguard letter was sent to my son, the account holder, and the emails to me, one of two beneficiaries. So Monday, we will be on the horn addressing that conundrum. It may not be an easy fix as the funds could be in one of two places, Vanguard or Ascensus.![:confused]( "confused")
My son received a mailed letter from Vanguard dated April 16, 2024 titled "Your small-business retirement account is moving to Ascensus." On 7/8/24 I received an email titled: "Your small-business retirement account transition is almost here", and a third email 7/20/24 which is probably the email your wife received.Hi,
My spouse had a single-person 401k account with Vanguard and all the of funds were depleted after the market close on July 19, 2024. She didn't recall receiving the Ascensus notice letter from Vanguard, i.e., she didn't know about the Ascensus event or the transfers. After I looked into what happened (today, July 20), I understand the situation, but I didn't get any of my understanding from Vanguard (I don't have a single person 401k account). It's interesting that they would conduct these transfers on a Friday, and not enable anyone to speak to Vanguard reps until Monday (7/22). Wondering if others with single person 401ks were surprised or if everyone knew of this.
Thanks.
The 4/16/24 Vanguard letter was sent to my son, the account holder, and the emails to me, one of two beneficiaries. So Monday, we will be on the horn addressing that conundrum. It may not be an easy fix as the funds could be in one of two places, Vanguard or Ascensus.
Statistics: Posted by teacher — Sun Jul 21, 2024 11:38 am — Replies 1052 — Views 109251