Thread: USNAVYRETIRED's Account Talk

FYI.....

Someone asked when an IFT had to be done to be in effect on Monday. I called the TSP hotline and found out. Even though market is closed on Friday as long as the IFT takes place before 12 Noon Eastern Daylight Savings Time, on FRIDAY it will be effective on Monday, 9 April.

So the US markets are closed and the TSP Office is 0pen Friday. If it was a government holiday TSP would be closed Friday. So you can submit IFTs Friday, cool!

I just looked at the TSP website. If I look at my account, the G fund is still at 11.85 (no penny). If I click on "Share Prices" on the Home page, it shows 11.86 for Apr 04, 2007. I think somebody goofed, and I'm going to call them afterwhile!!!

OOPS! Now that I looked closer, the accounts in the TSP website haven't been updated yet. It still says the account balance is as of Tuesday, 3 April. Hopefully they will update it soon.

Originally Posted by USNAVYRETIRED

OOPS! Now that I looked closer, the accounts in the TSP website haven't been updated yet. It still says the account balance is as of Tuesday, 3 April. Hopefully they will update it soon.

TSP stated that all accounts will updated by 11:00 today.

I just checked the TSP site, and it has finally been updated.

Concerning IFT's: The way I understand it is that the TSP site will allow IFT's tomorrow since it is NOT a federal holiday. Therfore, if you make an IFT anytime between now and noon tomorrow, Friday, 6 April ESDT, it will be effective for Mondays trading due to the fact that the markets are closed tomorrow. It IS rather confusing, isn't it??

Originally Posted by USNAVYRETIRED

I just checked the TSP site, and it has finally been updated.

Concerning IFT's: The way I understand it is that the TSP site will allow IFT's tomorrow since it is NOT a federal holiday. Therfore, if you make an IFT anytime between now and noon tomorrow, Friday, 6 April ESDT, it will be effective for Mondays trading due to the fact that the markets are closed tomorrow. It IS rather confusing, isn't it??

ANY IFT done after COB Friday will be processed COB Monday. Meaning yes you can IFT Friday but it won't be processed (effect your balance) until COB Monday, IMHO

As stated at TSP.gov, any fund transfer (IFT) between now and 12:00pm EDT Monday, will be processed at COB Monday, April 9. I guess the confusion is when your TSP trade is processed and when it is effective. It is processed at COB of a trade day, and effective at the new allocation the following trade day. The IFT you enter on Friday at TSP.gov is not processed at COB Friday because the U.S. markets are closed Friday. It would be processed at COB Monday, April 9th, and be effective at the new allocation on Tuesday morning, April 10th. Here is the notice posted at TSP.gov.

Special Notice for April 6: Because some of the stock and bond markets will be closed Friday, April 6, we will not be updating share prices in any of the TSP funds for that day. Consequently, transactions will not be processed until the following business day (that is Monday, April 9).

Originally Posted by USNAVYRETIRED

I just checked the TSP site, and it has finally been updated.

Concerning IFT's: The way I understand it is that the TSP site will allow IFT's tomorrow since it is NOT a federal holiday. Therfore, if you make an IFT anytime between now and noon tomorrow, Friday, 6 April ESDT, it will be effective for Mondays trading due to the fact that the markets are closed tomorrow. It IS rather confusing, isn't it??

EWGuy... That's not what they told me on the phone. They ARE open tomorrow, but the markets are not.

I understand the confusion, and its ashame the TSP reprehensive was not better trained. We at TSPTalk have been through this issue every year, and its often the meaning of effective and processed. You are correct that the workers at the TSP.gov sites are not off because Friday is not a federal holiday. However, the U.S markets and many world markets are closed Friday, so the folks at TSP.gov cannot process any fund transfer you enter at COB on Friday, April 6th. It’s impossible to get fund prices when the markets are closed. Therefore, any IFT you enter between now and 12:00 pm EDT Monday will be processed at COB April 9th. It’s effective at the new fund allocations the following morning, on Tuesday, April 10th

As the Tracker at TSPTalk, I cannot get fund prices for Friday because they will not exist. Therefore, any IFT entry you make to your account will be entered in the Weekly Tracker on April 9th, using Monday's fund prices.

As a side note: Does anyone remember what happened last Veteran's day at TSP.gov? This was a federal holiday. Were the US markets open for business? Was TSP.gov open for business?

I stand corrected. Belay my last!!!! Sorry if I mislead anyone....