Thread: TSP Restriction Warning!

Originally Posted by LAT

This is my first post here, and I have a question regarding this letter I got from TSP this week. When can I expect to be restricted in my trades?

First Off... Nobody really knows. It is starting to look more like a bluff.

Let me say, Please navigate around the Site. There are lot's of responses to this subject.

You will see what I'm saying as you Start reading reading reading...

My suggestion is to IFT like you did not get the letter and then if they block you call and request 50 TSP-50 forms so that you can do the snail mail. They are not available on the net. This is why I think it is a bluff. Besides I do not want to waste my ink and paper printing them off anyways.

Keep a journal of the date they block you, if they do and make up some trades on paper. Then sue ETAC and TSP for your losses, pain, and suffering. I'm serious!

Here is the info on the TSP-50 from the tsp.gov site.

Form TSP-50, Investment Allocation, Not Available on the TSP Web Site

Form TSP-50, Investment Allocation, is the only TSP form that is not available from the TSP Web site. This is because the form was designed to be read by an optical scanner; if it were downloaded from the Web, this might not be possible. You can obtain a copy from your agency personnel office, or, if you are separated from Federal service, from the TSP Service Office.
Alternatively, if you go to Account Access on this Web site, you can request a contribution allocation and/or IFT electronically.

Originally Posted by LAT

This is my first post here, and I have a question regarding this letter I got from TSP this week. When can I expect to be restricted in my trades?

See other threads on this site dealing with this subject. FRTIB's original proposal was to make this proposed new 3 IFT per month restriction effective in April, 2008, but it's beginning to look more and more like that will never happen. If you read the letter you received carefully, you will see that they used words such as "may" (rather than will), implying that they have no plans to restrict anyone anytime soon. My advice is to keep making IFT's as you see fit until (and if) they actually do impose restrictions. If anyone is actually blocked by the tsp.gov website from making an IFT, please post that information here ASAP, as it will be valuable information to have in the case we are building against this proposal. There is a lot of information here (dating back a couple months or more) on this topic, if you just look around.

Thanks everyone, I am looking through them now.

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Welcome to the MB LAT, good luck with your trades.
Norman

From another new guy, I have been in TSP since the begining and I have only made one IFT in all of those years. Now, I want to be active and I have made 5 IFTs in the last 30 days. I will likely get a warning since it is now being watched. This situation really torque's me, since I haven't used my normal allocation of IFTs over the years (if there is such a thing). In my opinion, if you want to IFT daily you should be able to do it period. I will continue to IFTs at a rate that suits me until someone takes away my log in or terminates the transactions. Steve

Originally Posted by SteveTSP

From another new guy, I have been in TSP since the begining and I have only made one IFT in all of those years. Now, I want to be active and I have made 5 IFTs in the last 30 days. I will likely get a warning since it is now being watched. This situation really torque's me, since I haven't used my normal allocation of IFTs over the years (if there is such a thing). In my opinion, if you want to IFT daily you should be able to do it period. I will continue to IFTs at a rate that suits me until someone takes away my log in or terminates the transactions. Steve

I understand your frustration. This just wasn't you Gig and or you didn't know the rules of IFT. Now you are Attentive to it. I'm not concerned about unlimited IFT's at this point.

Poolman, Thanks for the reassuring words, it is appreciated. Steve

Showme: I made an IFT on 1/31/08 to be in G 100%. It was effective 2/1/08. According to TSP (I called)...that counts as 1 IFT. On 2/7 I made an IFT to G 31%; I 23%; S 23% and C 23%. It was effective on 2/8 and counted as 1 IFT. That counts as 1. So far I had made 2 IFTs. According to the TSP person I talked to today, when I made another IFT on 2/13 to G 100%...I was done for the month. I'm so mad about the new IFT restriction ruling I could spit. I wanted to do one IFT per week...like start out in G 100%, go to the C/S/I/G mix, then back to G 100%, then to stock mix again, then to G again. The words "unlimited G" sticks in my mind. What I want to do seemed possible given their wording. But I was told no you get two, then you can go to F or G. I'm reluctant to make any more IFTs this month. I don't want to have to make them via snail mail. It also sounds like if you have to do it thru the mail, you are still limited to the 2 IFTs per month. TSP Board says they are giving us "24 trades per year" which they believe is generous. This is my first post. I have been what you might call a lurker up till now. I just want to manage my TSP and not be treated like a child or idiot. So, we wait until someone gets a notice that they have to mail in their IFT request to see if they are not bluffing?

That is right we have to continue as is and see if it is in fact a bluff. Call the ThriftLine and request some TSP50 forms so that you can IFT my mail.