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Thread: My money, our TSP fund, and the 2008 TSP IFT Rule.

  1. #97

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by nada View Post
    you said it rejoinder. I'm with you on this issue! this arrangement needs to be changed. and also, why does IFT have to be done before noon, markets are closed not until 4? It seems tsp board doesn't want to see its members doing well financially.

    folks, below is the address of the TSP board. please spare a few moment of your time to write a few lines to the board on the current IFT rule. we need to form a collective voice, so the issue can get on the board meeting agenda.


    FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
    1250 H Street, NW Washington, DC 20005


    [it's some board. doesn't even have an email address in this information superhighway age to communicate with its members].

    Also, below is the monthly meeting minutes of the board. they even had a bill to introduce a mutual fund into TSP, but it was voted down. we don't need any more financial products. all we need is making TSP operated better. get rid of that IFT limit or at least the 12 o'clock deadline !!!!

    FRTIB: Board Minutes, Most Current Years ; 2012 Mar 22
    Nada, thanks for posting this, I had to re-read the minutes to get the flavor and get the names of the players the mutual fund window proposed rule.

    http://www.frtib.gov/pdf/minutes/2011Aug.pdf


    Mr. Trabucco also reported to the Board that Mr. Long testified at
    a hearing before the House Subcommittee on Federal Workforce, U.S. Postal
    Service, and Labor Policy on July 2. Mr. Trabucco said there were two notable
    topics of discussion during the hearing. First, Congressman Lynch expressed to Mr.
    Long that he remains interested in seeing the TSP offer a mutual fund window, as
    authorized by the Thrift Savings Plan Enhancement Act of 2009. Mr. Trabucco
    reminded the Board that the vote was 2 to 2 (with one Board member absent) the
    last time the Board considered a mutual fund window and that ETAC members were
    similarly divergent in their opinions. Mr. Long added that Clifford Dailing, who
    represents the National Rural Letter Carriers Association, indicated that he might like
    to see ETAC and the Board revisit discussions about a TSP mutual fund window.

    The answer is:

    TSP Executive Director Greg Long defended the mutual fund window option as a way to meet the demands of a small group of participants without changing the overall nature of the TSP. He noted that he had no plans to implement it until the ETAC and FRTIB agreed to the plan.

    http://www.govexec.com/pay-benefits/...n-risky/30279/

    Now, a semi-self-directed IRA window, investing in ETFs would be inherently less risky, lower in costs that a mutual fund, and would allow TSP members to invest more proactively in more funds - all-in-all, it would solve everyone's problem - Congress, the unions, ETAC, and even us here at TSP Talk. In principal, in Gregory Long's own words, might be agreeable, if the Unions and FRTIB agreed.

    You gotta love this - we may have been fighting the wrong people here all along.
    Last edited by nsurf9; 05-02-2012 at 10:29 PM.

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  3. #98

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    More lamenting on Long's "testimony" in support mutual fund window.

    http://oversight.house.gov/wp-conten..._testimony.pdf

    I know that are other TSP Talk member who are already using it, but I though it might still be useful to post it - General rules for traditional self-directed IRA.

    http://www.theentrustgroup.com/inves..._transactions/
    Last edited by nsurf9; 05-02-2012 at 11:05 PM.

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  5. #99

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    This is the end of this thread and its purpose - to research TSP pertinent law to seek judicial IFT restriction relief. A new thread will be created to support a Roth and modified traditional, self-directed IRA window-thru TSP option.

    Thanks you, very much, for the support and encouragement - especially to those that committed to an "I'M IN." Sincerely, NSurf9.

    My conclusion from appointments with attorney Josh Rose and past President of the Arlington County Bar Association, attorney William Hassan, and my reading and research of the pertinent law, reports and information is that, once ETAC consented to the rule change as our representative council, and the 2008 IFT restriction rule was published for the requisite period of time in the Federal Registry, TSP’s negotiated legislative rulemaking authority made the 2008 IFT rule restriction very strong – and it will likely withstand a judicial constitutional challenge in United Stated District Court.
    Last edited by nsurf9; 05-09-2012 at 11:05 AM.


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  7. #100

    Join Date
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    West of Atlanta
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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    You gave it your best. Thanks for the effort.

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  9. #101

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    You haven't seen my best effort, yet.

  10.  
  11. #102

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
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    12,151

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by nsurf9 View Post
    You haven't seen my best effort, yet.
    Again thanks for everything you have done so far.

    It really does appear that the "self-directed IRA" (now to be known as SDIRA) would solve most of the issues brought up because of the restrictions of our current TSP. Most said they would be willing to pay a small fee to have extra moves per month, SDIRA offers that and more (you can make multiple moves per day if you want to pay for them). Some wanted to be able to wait until closer to the closing bell to make a decision, SDIRA offers that. SDIRA also offers more venues than the current funds we have in our TSP. Anyway at first blush it looks like this may be what a bunch of us where asking for.
    May the force be with us.

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  13. #103

    Join Date
    Feb 2011
    Location
    Philly
    Posts
    412

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Does anyone think the Self Directed IRA option thru TSP will ever be implemented? Will it take 8 years or something absurdly long time to do it?

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