Thread: 2 IFT maximum - 19 November proposition

Originally Posted by kaitlinsnana

Looks like the TSP made the decision today to restrict interfund changes to two a month -- and it seems one additional change back to "G". If this doesn't change, what allocation would be optimal?

I'm really bummed about this. I've had a bad month, but I really resent their taking it away.

Gail

Are you FREAKIN' serious... I'm PO'd. Everyone should write or call their legislative reps and Department Secrataries and voice a loud disapproval.

THe best allocation would be IFT to 401(k) and deplete the value of a dying dog. Seriuosly though, people that know how to handle their money will max a $50k loan out as often as they can trade it on margin and then return the borrowed amount to TSP -- then, repeat the cycle every 3 months. That would probably cost TSP more then unlimited IFTs, I hope they know that's what they'll get from the aggressive traders.

what a bunch of idiots. They don't even know the definition of a "day trader." Even how TSP IFTs exist now, it is impossible to day trade. Schmucks.

Any lawyers here?

Gail

Originally Posted by kaitlinsnana

Any lawyers here?

Better yet, get Goldman Sachs/Barclays/and MSCI on this thread... they'll be upset the TSP board is taking away market liquidity.

I don't know where to start... This is just stunning. It was just hanging around the damn post office because of the freedom of playing around with my TSP account.

Had to take my emergency Xanax tonight. I'm pissed.

Gail

The Federal Retirement Thrift Investment Board approved the restrictions Nov. 19 as part of an effort to curb what it called excessively frequent transfers. A board study released at its monthly meeting showed that about 3,000 of the 3.8 million TSP enrollees are frequently shifting billions of dollars from plan to plan, sometimes on a daily basis.
Board chairman Andrew Saul said the practice amounts to day trading. The board said the excessive transfers are hurting TSP by driving up transaction expenses from $2.2 million in 2004 to more than $15 million in 2006.
The board also will send letters to the 3,000 frequent traders in December telling them to cut back on their transfers. If they don’t, the board will take away their abilities to trade online, and they will have to physically mail in their transfers.

3,000 people out of 3.8 million made such a difference in their expenses. I simply don't believe it.

Gail

I hope you are right. This approach might be the best alternative substitute, instead of having to pay for an expensive lobbying group to be our spokespeople before The Congress.

Originally Posted by fedgolfer

Better yet, get Goldman Sachs/Barclays/and MSCI on this thread... they'll be upset the TSP board is taking away market liquidity.

Originally Posted by airlift

I hope you are right. This approach might be the best alternative substitute, instead of having to pay for an expensive lobbying group to be our spokespeople before The Congress.

How about the union. I belong to the APWU. They are changing our retirement without talks or arbitration. Sounds like a grievance to me. An award in our favor would get paid back in a cash settlement. I think all the unions would back this, and they are good lobbyists.

Originally Posted by mayday

How about the union. I belong to the APWU. They are changing our retierment without talks or arbitration. Sounds like a grievance to me. An award in our favor would get paid back in a cash settlement.

I too am APWU and I can't get my mind around how we would file a grievance against TSP as they are not USPS. It would have to be a class action lawsuit.

Originally Posted by Show-me

I too am APWU and I can't get my mind around how we would file a grievance against TSP as they are not USPS. It would have to be a class action lawsuit.

They mess with your money. They mess with the union. Its all about control. The control of our finances has been taken away by an entity that does not have our best interest {pun included} at heart.

Let's face it folks, every since the Government forced fed the 2-cent FERS retirement sysytem on us we have been hosed. Considering Social Secrurity is part of our retirement, the only bright spot, was TSP. It had the flexibility to look out for my/our's best interest which made it even more attractive. FERS is now officially broke. The government needs to come out with a more comprehensive retirement sysytem.


Geaux

turtle11a4.gif