TSP board to limit interfund transfers

[Show-me]

careful with Scottrade, Show-me. Don't submit a 'cancel' order then buy or sell for a different price, they may not cancel your first order. Just make a 'change' order. They hosed me on that a few years ago. Ultimately my fault, tho.

Always a learning curve, but you have options at your finger tips. Thanks for the heads up.

[Frixxxx]

It was the Employee Thrift Advisory Council that recommended a fee be charged for taking out a TSP loan. Maybe they would be willing to take the same stance rather than restrict the number of IFT's. The ETAC represents us.
....

I'm asking for status quo on this.....I feel that any charges per trade will inevitably keep going up and we will be asked for more and more. Before TSP, CSRS employees knew what they were getting for retirement, no negotiation. Years X Rate X .?? = retirement pay. The government didn't want to keep that kind of retirement plan on the books. It was too expensive. THEY decided to reduce THEIR cost by giving us TSP. They realized that they could wash their hands of this and blame the employee if they didn't save. WELL, MR. GOVT, Thank you for giving me the right to take my destiny into my own hands. Let me take care of it or reinstate a freakin pension plan that mirrors the last one. OK?

[Show-me]

SENATE APPROVES COLLINS’ BILL TO GIVE FEDERAL EMPLOYEES MORE FLEXIBILITY TO CONTRIBUTE TO RETIREMENT FUNDS
Thrift Savings Plan Open Elections Act Would Make “Open Seasons” Year-Round for Employees WASHINGTON, DC -- The U.S. Senate today unanimously approved Senate Governmental Affairs Committee Chairman Susan Collins’ (R-ME) legislation (S. 2479) to provide federal employees with maximum flexibility to tailor their investment decisions by eliminating the current restrictions on when employee contributions to the Thrift Savings Plan (TSP) can begin or be modified.

“Allowing employees to join the Thrift Savings Plan or to make other changes when they choose -- not just during two yearly “open enrollment” periods -- will give employees more control over their investment decisions,” said Senator Collins.

Since its inception in 1987, the TSP has provided federal employees with the opportunity to participate in a retirement savings plan similar to the 401(k) plans offered by many private companies. Under current law, newly hired employees can sign up to contribute to the TSP during an initial 60-day eligibility period. If an employee chooses not to make an election during that time, he or she must wait until an “open season,” or biannually designated period, to do so. If an employee stops contributing to the TSP outside of an open season, he or she must wait until the second open season after contributions stop before contributions can resume.

Open seasons were practical when TSP was first created because the program lacked the administrative capability to quickly enroll participants and to implement investment elections on a real-time basis. With introduction of the automatic record-keeping system, however, the program has outgrown its existing framework.

Senator Collins’ legislation, the Thrift Savings Plan Open Elections Act of 2004, has the support of the Federal Retirement Thrift Investment Board, the Employee Thrift Advisory Council, the American Federation of Government Employees, the National Treasury Employees Union, the National Association of Retired Federal Employees, the Federal Managers Association, and the Senior Executives Association.

See anything we can use in this old press release? I do. Jayhawker found it before me.

[Show-me]

It was the Employee Thrift Advisory Council that recommended a fee be charged for taking out a TSP loan. Maybe they would be willing to take the same stance rather than restrict the number of IFT's. The ETAC represents us.

Bingo! We found a new best friend!

Send a carbon copy of your letters to them.

[camper65]

Please Note, Collins is my senator. My union rep has work with and for her.
Says he can get me an appointment.

(MMmmmm, I'm thinking about it!)

[Show-me]

http://www.law.cornell.edu/uscode/ht...3----000-.html

This is how the council is made up.

[squalebear]

Let'm Know

http://www.tsp.gov/curinfo/feedback.html

[Spaf]

I've been with the "Government" for 28+ years. Often as it is, someone tries to screw with the retirement system; raises, time in service, social security, TSP, whatever.
We send troops to war without adequate protection; body armor, vehicle armor, etc.
I'd better take my Moderators Hat off!
Cause I'm tired of this stuff!
Who said "ask not what what your country can do for you but what you can do for your country" They must have not seen the military cemeteries that crisscross our country and other foreign battlefields.
Who said "We don't have any troops in Cambodia!" I looked at my map and guess where I was!.....Fiiggen Liar!
I guess I'm just tired of how "Government Employees" seem to get the "short end of the stick"
Maybe TSPTalk should have a special thread devoted to anti-government-employee folks.
I don't mind shooting the bad guys, done that before. But on homeland if convicted you get 3-square meals, TV, a bed, and you don't have to pay taxes.............. Na..I'd miss my dog!

[troxel]

Two questions come to mind.
1. Can we transfer our entire TSP to a private broker, such as AG Edwards if we still are working?
2. If we can, would we have to wait until 59 1/2 to withdraw. Now we can the year we turn 55 if retired?

Any response would be appreciated.

The best weapon would be to put these clowns out of business.

I don't think so. That would be interesting to have private enterprise competing in terms of service and price for this function.

[squalebear]

I've been with the "Government" for 28+ years. Often as it is, someone tries to screw with the retirement system; raises, time in service, social security, TSP, whatever.
We send troops to war without adequate protection; body armor, vehicle armor, etc.
I'd better take my Moderators Hat off!
Cause I'm tired of this stuff!
Who said "ask not what what your country can do for you but what you can do for your country" They must have not seen the military cemeteries that crisscross our country and other foreign battlefields.
Who said "We don't have any troops in Cambodia!" I looked at my map and guess where I was!.....Fiiggen Liar!
I guess I'm just tired of how "Government Employees" seem to get the "short end of the stick"
Maybe TSPTalk should have a special thread devoted to anti-government-employee folks.
I wouldn't mind shoting them, done that before. Besides if convicted you get 3-square meals, TV, a bed, and you don't have to pay taxes. Na..I'd miss my dog!

Trust Me My Friend, No Pets Allowed.

[camper65]

I don't think so. That would be interesting to have private enterprise competing in terms of service and price for this function.

Service, YEA! Now your talking, what we get now s--kS!

[BorderCopper]

I was horrified to learn from the associated Govexec article that there were 2018 investors who traded into the I Fund on October 19 amounting to $371M and three days later the same 2018 investors traded $391M out of the I Fund. How dare these 2018 government workers run out with a profit of $9.9K in three days...such audacity!

Well that is some fuzzy math going on. If we....um I mean those exact 2018 traders traded into the I Fund with $371M on the 19th @$25.13 per share and went three trading days to the 24th closing @ $25.32 per share before trading out, I am not understanding how that equates to $391M. Try playing with those numbers for that whole week and its still fuzzy math.

Once again we have another entity deciding that we should all be restricted from bettering ourselves in the same manner that the "professionals" do for the L Funds (which apparently costs nothing to make daily adjustments) for the greater good i.e. looking out for those that pay ZERO attention to their investments and are satisfied with taking whatever is there when they retire.

One Mad Migra Fed (2nd day trader)