Thread: To TSP Members - RESTRICTED ACCOUNTS

Originally Posted by qibovin

I resent being referred to as an abuser when I was playing by the rules that currently existed (still exist for some?). Of course, if I am an "abuser," then I must be addicted-->I'm a victim of the overly liberal system set up by TSP in the first place. Oh the pain and suffering I've endured! I need help. I'm an innocent victim of FRTIB's evil conspriracy. Thank you for remedying this terrible addiction, FRTIB. But the snail mail trades just aren't covering the withdrawal symptoms.

Just so you know those aren't my words they are a quote from http://www.govexec.com/dailyfed/0408/041008pb.htm you should read it completely I really believe the person Devil in the Details who used those words in that post is probably Mr. Long or someone from the FRTIB. They were posted on 4/17/2008 There are other viable and far less draconian measures which can be taken. (By the way, rarely used, limiting transaction abusers to paper transactions is a FULLY LEGAL and APPROVED measure). Devil in the Details Posted April 17, 2008 10:26 AM

Has anyone sent in a fax that went through yet? Just wondering how long to expect. I sent in a snail mail on the 9th that has yet to go through. I think it's punishment for participating in the process. I'd like to FOIA all correspondence relating to all of this....

John

Quote from Stephen Barr's Washington Post article this morning:
"In the unlikely event that Barclays ever fell into bankruptcy, Grossman said that trust and regulatory laws shield TSP assets from creditors. Asked by Alejandro M. Sanchez, a board member from Florida, if TSP assets were "locked in a room" and kept separate from other assets managed by Barclays, Grossman said yes."

Grossman just failed to mention that they are locked up tight so that the
participants can't get any transfers made!

Originally Posted by Asylum

I noticed that you have to log in to look at this Message Board now... that's a great first step.

I agree. That's a good move.

Originally Posted by grandma

Quote from Stephen Barr's Washington Post article this morning:
"In the unlikely event that Barclays ever fell into bankruptcy, Grossman said that trust and regulatory laws shield TSP assets from creditors. Asked by Alejandro M. Sanchez, a board member from Florida, if TSP assets were "locked in a room" and kept separate from other assets managed by Barclays, Grossman said yes."

Grossman just failed to mention that they are locked up tight so that the
participants can't get any transfers made!

BGI is a UK company, not a USA firm. Our trust and regulatory laws probably don't apply....

I could be wrong, but judging from website information, their US interests appear to be subbed out to ishares.

For more insight into our investment philosophy and to find out about our Total Performance Management approach, you can check out our main corporate website.

http://www.barclaysglobal.com/about/...ex.jhtml?pn=ab

TSP automatic enrollment, fund transfer restrictions move forward

By Alyssa Rosenberg arosenberg@govexec.com April 21, 2008

"Long and TSP Director of External Affairs Thomas Trabucco said Congress also is moving forward on a proposal to automatically enroll federal employees in the TSP.
Senate staffers delivered to TSP officials an automatic enrollment bill and Rep. Danny K. Davis, D-Ill., who chairs the House Oversight and Government Reform Federal Workforce Subcommittee, sent the Federal Retirement Thrift Investment Board a letter saying he will hold an April 29 hearing on the issue, Trabucco said.

"The realities are, this is inertia at work," Long said, observing that TSP enrollment would stagnate without automatic enrollment. He pointed out that other retirement plans already are adopting the practice to increase participation rates. "
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Just an idea, Mr. Long and the TSP Board seem to really want to implement this "automatic enrollment" idea. Contact our union representatives, Congressmen, etc. to consider offering support for this proposal in exchange for removing TSP restrictions. Logically, the two proposals being pursued by the TSP Board are diametrically opposed to each other. i.e. We want everyone automatically enrolled but we are going to restrict your ability to control "your" money. Totally ridiculous! Contact your unions and ask that they pursue this option. At least offer comments at the 4-29-2008 hearing proposed by Rep. Danny K. Davis, D-Ill., who chairs the House Oversight and Government Reform Federal Workforce Subcommittee.