Thread: TSP Warning Letters

WOOHOO! As Steve Martin in The Jerk said when the new phone books arrived, I AM SOMEBODY!

Got my letter today.

Dum*ucks

Got one!

My letter was in the mail when I got home. Of course I have not opened it yet. I guess I am one of the 3000. Why ME! I feel priviliged to be a member of this group. Now lets make some Money!

Originally Posted by sugarandspice

So from this am I to assume if you DO NOT receive a letter, and your "current behavior" changes to a more aggresive approach, then you can transfer as much as you want?

If they can impose these restrictions, why are they asking people to VOLUNTARILY change their ways?

It's a bluff, plain and simple. Hence the "may" language in the letter they sent out. They screwed up the Fed. Register Notice (in several ways) proposing this letter to the 3,000 "frequent traders", but they decided to send out the letters anyway, in an attempt to bluff folks into complying with their 3 IFT limit per month. Don't fall for it. Continue to make as many IFT's as you like.....what have you got to lose? Until they actually change the software on the TSP website to block more than 3 IFT's per month, their threats mean nothing. And I don't think you will see the software changed for quite a while (maybe never), because they have not complied with the legal requirements to actually make that change yet. I haven't seen the Fed. Register posting that they are required to do to actually propose making this change, and even after that comes out, there will be a comment period and then a requirement to post a final rule, before they can even START to make this change effective. All of that will take time, if it ever happens. Until then, I suggest everyone carry on as you have always done with regard to your IFT's. Don't fall for the bluff, folks....it's your money, to manage as you see fit.

I agree!

Got mine today also.

Even though I was expecting it, I feel like I want to kick the living chit out of TRACY RAY!

Mine today as well. I'm leaning towards agreeing with RAE. The letter is vague. 3 trades in 30 calendar days or 1 month? They should just accept what they apparently now see as a 'mistake' in creating unlimited IFT capability, declare it so, and put it into affect when they can. Again, I hate to think one of OUR U.S. agencies is bluffing it's own people. Feels underhanded and dishonest. They are supposed to serve our trust. We have put our trust in them. But I suppose we are the minority, and they feel they are serving the trust of the majority.

I saved all IFT emails and looking at them, I made 5 in OCT, 4 in NOV and 5 in DEC but I did not receive a letter today. Maybe tomorrow?

Sorry Folks, I guess I can't be in the group. I am not a member. Whoa is me! Cause you see, in 2006, I started lurking in the mb. I only made 24 IFT's in 2006 roughly broken down to:
2006 IFT(s)
Jan -2
Feb -1
May -6
June -7
Aug -2
Sept -3
Nov -2

In 2007, I was playing around with different stategies to see if one worked better than another. I only did 1 IFT each month in Feb, May, June, Aug, Oct, Nov, Dec. In September I did 8 IFT's.
Now, for Jan 2008, I am on my 6th IFT.
So, by their own definition on what a frequent trader is, I should not get a letter because I am not a frequent trader. I love our Government!

I received my warning letter yesterday, but am unsure where the THREE IFT limit is about. From what I read its two IFTs then any number of IFTs into G fund. I can have ten IFTs if eight are into G fund, incrementally. The letter states three IFT limit in first paragraph then latter states there is a limit of two IFTs.

I object to being called a "trader". I am not... I transfer my funds within the TSP as per their guidelines, nothing more. One transfer a day per their guidelines. Transfer request initiated at least 20 hours before the transfer is confirmed, per their guidelines. I do not trade in and out of positions all day long. </rant off>