Thread: IFT Limit Question

Just out of curiousity for the so called offenders shouldn't they be sent certified mail return receipt requested to ensure the offender got it and it was not lost somehow by you can't believe my mail carrier. Everyone is always knocking on my door to give me my mail that was misdelivered.

Originally Posted by anidoc

There are no limits. All they have done is warn us not to exceed 3 ITF's per month. If we make 3 IFT's, supposedly #4 and any others that month will be made by snail mail. Which raises the question if I make 3 IFT's, then make #4 the next day, what will they do? Reject it? Hold it for x number of days that they estimate it would have taken by snailmail?

IF the reg is implemented, it will not happen before April as it has not yet been published in the FTR. If it is implemented in April, they still have to contract out and develop the software change so "lockouts" probably couldn't happen before October. IF the reg is implemented and effected in April it's fraud, because that means they have already let a contract to develop the software prior to the reg going through the necessary rule-making procedure.

Please understand that there are no limits yet. You can, and should, continue to make as many transfers as you wish. Let them worry about how to stop us. The cost of doing so is going to draw attention.

I totally agree. All of this talk about limits being imposed now, or even in April, is misplaced. As Anidoc says, it ain't gonna happen folks, so continue on with your IFT's as you have always done. Lockouts won't happen for a long time yet, if ever. FRTIB would love to have everyone that got bad-boy letters stop making IFT's now, but there is absolutely no reason to do so! Their letter was nothing but a bluff.

Snail mail might work if you are on the east coast, for those of us OCONUS or the west coast being limited to snail mail would justify a trip to make a personal call on the managers of our fund. Mail in Iraq takes forever.

Anyone who has gotten letters actually tested this idea of no limits?

not testable yet...friday IFT would be first of february, today would be 2nd possible IFT of february...so a move into any fund but G tomorrow is suppose to trigger relegation to snailmail

Has anyone had trade restrictions imposed on them yet?

Would have thought so, just not always aware of the goings on.
(And, I just have this thought that this is an idle threat. You know, Like that 60s' thing,
"BANANAS WILL GET YOU STONED! SSSSSSH DON"T TELL ANYONE!!!")

Originally Posted by camper65

Has anyone had trade restrictions imposed on them yet?

I had something very strange happen Tuesday.

In preparing for the worst, I attempted to find the required 'snail mail' forms TSP-50, the only place I could find them were at the TSP customer service in Birmingham.

While talking to the agent, he stated "you don't need the forms, because the capability is online." When I responded that I was just preparing for the 'threat' to materialize, he told me that I could only have 10 forms per request. Since I had to give my acct. number to even reach him, he said he could make an IFT in my behalf, but since I went over my two allowed moves already, I could only move to the G fund. I respectfully declined and immediately went to the web to check my capabilities out, only to find; after I entered my IFT and clicked the submit button, a message came up stating; “Your account has been locked and you must call TSP customer service to proceed”, giving the contact phone number.

That evening I tried again and I was able to proceed. This morning I received my confirmation of the IFT.

My thought is; they can manually lock your account, but as of today, they don't have the software set-up to make it permanent.

Originally Posted by anidoc

First of all, the telephone jockey was wrong. There are NO limits yet, just a threat that for transfers in excess of two per month we may have to use snail mail. That doesn't mean you can't do one per day if you desire, just that transfers 3-30 you might be mailing them in. As for your thought that they can lock us out, I don't think so. I have had a problem in the past when I entered the wrong password because I had capslock on and that locks the account automatically. In that case you have to call them to get them to reset the password. A very reliable source told me that they do NOT have the authority to lock your account at this time. All they can do is reset passwords and the other normal TSPLINE assist functions.

If your account was in fact locked to ALL transactions including a transfer to G for the entire day that violates the interim regulation as published and you should notify ETAC and your Congressmen. IMMEDIATELY. Also check the interim regulation AS PUBLISHED so you are aware of your rights. Do NOT believe what the telephone jockeys tell you.

THERE ARE NO LIMITS YET. YOU CAN MAKE AS MANY TRANSFERS AS YOU WANT, THE INTERIM REGULATION STATES FRTIB "MAY" FORCE US TO USE SNAIL MAIL FOR >2 TRANSFERS PER MONTH. BUT WE ARE NOT LIMITED TO TWO!!!

anidoc,

I hope you are correct on your assessment, but I did not use the wrong password, because I got to my account and entered the new allocation. I received the message only after hitting the submit button.

Originally Posted by anidoc

It does NOT impose limits on number of transfers, just on HOW they are made.

This still doesn't make sense to me. Joe Blow who has never made an IFT in his life can now utilize this feature all he wants, but because I took advantage of this feature during an arbitrary 2-3 month period (before any warning letters were sent) I am profiled for "special treatment" by having a still generally enjoyed privilege arbitrarily withdrawn.

Obviously the intent of snail mail IFTs is to essentially eliminate or drastically reduce IFTs. By still superficially allowing "unlimited" IFTs they may appear to be technically legal, but it seems to me that this threat of arbitrarily targeting people is the part that is troublesome. They might stand a better argument by requiring ALL TSP account holders to snail mail their IFTs. But then that would show how much of our money they wasted on putting the system in place to allow this in the first place.

Another arguement--along the lines of the "separate, but equal" attempts of the south--is that snail mail IFTs, by their very nature, and certainly compared with what "untargeted" account holders are allowed to do online, are LIMITED. In other words, unlimited snail mail IFTs is a bigger oxymoron than, dare I say, military intelligence.

The proposed mail in requirement of IFTs for those continuing to exceed 3 monthly trades surely can be successfully challenged. FTIRB (?) may have the power to limit IFTs per month for all members, but by what authority can they discriminate against one group of members forcing them to use USPS to make IFTs, while others can still use on-line transfers? This sounds more like a federal manager trying to discipline or punish a group of employees who are using their computers in ways management does not like. As an ex shop steward in SSA, I believe this entire matter should be raised with every union that represents current fed employees affected by these proposals. While local reps might not be able to file any actions directly on the behalf of their bargaining units, they could at least raise this issue to their national offices.