Thread: tsp gov errors

grandma wrote:

I entered an IFT yesterday - Monday, 7/18, at 10:05, agreed w/the confirmation button. I did not receive a confirmation letter last night, nor is the change reflected in my tsp account this morning. Has anyone had any luck w/them correcting these things??

What was your outcome?

Greg wrote:

What was your outcome?

They told me, yes, I had entered a transaction at that particular time for 100
G. I told them that was not what I had entered, but they didn't budge, and did not send me a confirmation of the ift. ...supposedly because that was where I had been & was moving oo. I didn't believe them cua I'd seen the confirmation - but - what the hay - !

What we need to do, is be able to print the confirmation w/the ift numbers - - I don't seem to be able to figure that computer trick out.....

grandma wrote:

Greg wrote:

What was your outcome?

They told me, yes, I had entered a transaction at that particular time for 100
G. I told them that was not what I had entered, but they didn't budge, and did not send me a confirmation of the ift. ...supposedly because that was where I had been & was moving oo. I didn't believe them cua I'd seen the confirmation - but - what the hay - !

What we need to do, is be able to print the confirmation w/the ift numbers - - I don't seem to be able to figure that computer trick out.....

Grandma, thanks for letting me know how it turned out.

The problem is during a IFT they don't show a confirmation page with the fund percentages.

P.S. A horse would never say "what the hay".

I had a challenge putting in my Interfund transfer this a.m.
After I submitted my change, an error message showed up with the https://tspweb2.tspsec.tsp.gov/tsp/fundtransfer.do....

I got totally out of TSP, re-entered, and my transfer to S had not taken place, so I resubmitted and got the request confirmation page.

A coworker of mine had the same issue just minutes later...

FYI and potential due diligence required if your IFT "looked funny" this a.m.

Please remember you can verify that your IFT went through by logging into your account after the noon deadline. Goto Interfund Transfers. Click on the Request Interfund Transfer button. On this screen you should be told that the deadline has passed to change or cancel your IFT. Also, you should see the new allocations in the appropriate funds.

Jeff

As Weatherweanie can attest, your printout is meaningless if they don't process it.

In addition, I can tell you that whatever evidence you have is worthless when talking to the help desk. The only thing that counts is what they see at the time you call.

In Weatherweanie's case, his transaction did not process in a timely manner because "According to TSP it 'could have' been due to the holiday, and 'should' be processed cob 9/5."

Gary

p.s. grandma should get snail mail confirmation of IFT from TSP if she forgot to put in email address.

Be careful with a last minute change to an IFT. You can get a result you didn't expect.

For instance, a little while back, I was in the I fund and completed an IFT hours before noon to the G fund. Then I decided at the last minute to change to the F fund. I started my change before noon but didn't complete it until just seconds after noon. Can you guess what IFT went in?

I would have thought if I didn't get my new IFT to the F fund done in time then my prior IFT to the G fund would execute...nope.

My account stayed in the I fund that night. Next day at COB it went to F.

Similar thing happened to me this week. I entered an IFT on 9/2 to go from 50-50 g-i to 50-50 g-f. The transfer didn't go through cob 9/4 as expected leaving me 50% in the I fund for the 5th. So I incurred the I fund loss on the 5th, missing the F fund gain.

Originally Posted by jlpost

Be careful with a last minute change to an IFT. You can get a result you didn't expect.

For instance, a little while back, I was in the I fund and completed an IFT hours before noon to the G fund. Then I decided at the last minute to change to the F fund. I started my change before noon but didn't complete it until just seconds after noon. Can you guess what IFT went in?

I would have thought if I didn't get my new IFT to the F fund done in time then my prior IFT to the G fund would execute...nope.

My account stayed in the I fund that night. Next day at COB it went to F.

Originally Posted by jlpost

Be careful with a last minute change to an IFT. You can get a result you didn't expect.

For instance, a little while back, I was in the I fund and completed an IFT hours before noon to the G fund. Then I decided at the last minute to change to the F fund. I started my change before noon but didn't complete it until just seconds after noon. Can you guess what IFT went in?

I would have thought if I didn't get my new IFT to the F fund done in time then my prior IFT to the G fund would execute...nope.

My account stayed in the I fund that night. Next day at COB it went to F.

Please remember that the first thing you do on the screen is to "Change" the previous IFT. Depending on how the TSP contractors process that, it could amount to CANCELING the previous IFT THEN processing the "new" Change. If the noon cutoff interferes, then your account could end up at the "old" allocation. Web transactions require strict "session control" and solid logic to process correctly. Just because you think it should be processed one way, doesn't mean that the TSP contractors get the same picture.

We'll never know because they won't tell us and the Gov't people charged with contract oversight probably don't "get that far down in the weeds".

Bottom line: Make your changes based on logic and preferably the night before.

Gary

A pending fund transfer at TSP.gov is processed initially the same for either a Cancel or Change. If you Change a pending transfer, it is first cancelled. If your Change is started prior to 12:00 pm ET, but you new allocation is entered after 12:00 pm, you end up with a cancel of your original fund transfer. The revised fund allocation is executed for COB the next trade day. It’s always wise to attempt another transfer shortly after 12:00 pm ET to confirm you have a pending transfer. The first display will show a pending transfer and the effective COB date for the transfer.

Originally Posted by EW_ret

A pending fund transfer at TSP.gov is processed initially the same for either a Cancel or Change. If you Change a pending transfer, it is first cancelled. If your Change is started prior to 12:00 pm ET, but you new allocation is entered after 12:00 pm, you end up with a cancel of your original fund transfer. The revised fund allocation is executed for COB the next trade day. It’s always wise to attempt another transfer shortly after 12:00 pm ET to confirm you have a pending transfer. The first display will show a pending transfer and the effective COB date for the transfer.

What is your source?