News Articles about TSP

[James48843]

Fedsmith has another article today:

http://www.fedsmith.com/article/1486/

The stock market is poised to take a significant drop today.

Perhaps you are thinking that the market has already taken a step drop and you might be asking yourself: "How can it drop any further?"

It is understandable why readers would be thinking that it cannot drop any further. Before the market has opened this morning, the C fund is down 9.66%; the I fund is down 8.97% and the S fund is down 11.72%. The lifecycle funds are also down with a range of -1.72% for the income fund to -8.06% for the L2040 fund.

But these figures do not mean the market cannot fall further. In fact, it is likely to take a big dip. There has been panic selling in overseas markets while the federal government and the stock market was closed on Monday. The market futures show the possibility of another drop of 4% (500 points) or so.

In answer to the question on the minds of many readers, keep in mind this point of reference: The stock market dropped 500 points in one day on October 19, 1987. The leadiing Dow Jones index at that time was about 2300. A 500 point decline equaled a drop of more than 22% in one day. Check out the charts that depict the wild ride. Also keep in mind that after the dramatic drop, the stock market started going up and, even with the recent drops, it is still above 12,000 at the time of this writing.

Most of the participants in the Thrift Savings Plan have a considerable part of their investments in the G and F funds. These funds are not as likely to be damaged in a sudden drop of the market. As you can see from our TSP charts at the top of many pages on our site, these funds are up as of this morning while the other funds are all down.

Read the complete article at: http://www.fedsmith.com/article/1486/

[Rod]

Most of the participants in the Thrift Savings Plan have a considerable part of their investments in the G and F funds. These funds are not as likely to be damaged in a sudden drop of the market. As you can see from our TSP charts at the top of many pages on our site, these funds are up as of this morning while the other funds are all down.[/B]

Read the complete article at: http://www.fedsmith.com/article/1486/

I would hope the (G) Fund was "up"!:p

[Silverbird]

:cool:So much for the "safe" Lincome fund!

[James48843]

From "Govexec.com" yesterday:

TSP prepares for increased activity due to stock market plunge
By Brittany R. Ballenstedt
bballenstedt@govexec.com January 22, 2008


Officials overseeing the Thrift Savings Plan said Tuesday that they are prepared to handle an influx of calls and other activity resulting from market volatility.

At a monthly meeting of the Federal Retirement Thrift Investment Board, officials said they have increased call center support for participants worried about their plan assets. Stock markets worldwide took a nosedive on Monday, while U.S. markets were closed for the Martin Luther King Jr. holiday. On Tuesday, the S&P 500 index lost 1.1 percent, ending the day at a more than 16-month low.

"Obviously the markets are going through some sizable amount of volatility both here and around the world," said Andrew Saul, chairman of the board. "Long-term investing has proved a very sensible thing, but on the other hand, this is a free country, and everyone has to make their own decisions as to how they want to handle their own finances."

The news comes as officials are working to limit the number of interfund transfers participants can conduct to two each month. They plan to publish final regulations on transfers in the Federal Register in February. The rules will take effect in late March or April.

Still, trading was down slightly in December, when 133,550 interfund transfers were processed, compared with 188,623 in November. Officials chalked up the decrease to media reports on the potential impact of interfund transfers on the overall cost of running the plan.

"People have read that this is an issue of concern," said Gregory Long, TSP executive director. "Some have calmed down; others haven't."

Meanwhile, officials noted that for 2007, the administrative costs to TSP participants were only one basis point, or 1 cent for every $100 invested. Last year's low cost was largely due to a significant amount of money being forfeited to the plan to cover employees who were placed in the wrong retirement system.

The forfeitures are a result of the 2000 Federal Erroneous Retirement Coverage Corrections Act, which sought to provide relief to employees who spent at least three years in the wrong retirement plan after the Federal Employees Retirement System was introduced in 1987. Once the law is phased out, officials said, administrative costs likely will increase to what they were in recent years. In 2006, TSP participants paid three basis points, still far below comparable private sector plans, which often cost 50 to 80 basis points to run.

"It's really how many angels can dance on the head of a pin because we're talking about such small numbers," Long said. "The primary point is to say that the one basis point figure may go up."

TSP Legislative Director Thomas Trabucco said officials recently met with members of Congress to make minor changes to legislation that would allow automatic employee enrollment in the plan and change the default fund for indecisive investors to the appropriate life-cycle fund. Trabucco said the legislation should be ready for introduction soon.

Lawmakers have expressed concern over the cost implications of the automatic enrollment proposal, since it would result in more federal employees deferring some of their salary from their taxable income. While a Congressional Budget Office estimate cannot be made until the legislation is introduced, Trabucco acknowledged that an unofficial accounting indicates the proposal could deprive the U.S. Treasury of hundreds of millions in tax dollars.

The legislative proposals will be discussed further at TSP's next board meeting, set for Feb. 19. Officials also plan to provide an update on the potential for creating customizable user identifications to replace the 13-digit account numbers participants have been using since October 2007.

"The 13-digit account number is very challenging for folks to remember," said Mark Hagerty, TSP chief information officer. "There's lots of work required to get the [customizable identification] up and operational, but it should make the site more user-friendly."


Source: http://govexec.com/story_page.cfm?articleid=39084&dcn=todaysnews

[kam]

"Staff Told to Protect Thrift Savings Plan's Assets"

http://www.washingtonpost.com/wp-dyn/content/article/2008/01/22/AR2008012203066_pf.html

Are they talking about costs our OUR ASSESTS?

[DrFaustus]

"The 13-digit account number is very challenging for folks to remember," said Mark Hagerty, TSP chief information officer. "There's lots of work required to get the [customizable identification] up and operational, but it should make the site more user-friendly."

Holy Cow ... I had my 13-digit number memorized after using it a couple of times. Just how stupid do these people think we are???

[James48843]

Rumor check:

I just saw this message on the TSPSHAREHOLDER.ORG petition site-

And entry that the TSP has screwed up bigtime, and sent the wrong quarter statemetn out to over a hundred and fifty thousands employees (At a cost of about a buck apiece):

# 3,142: Jan 24, 2008, Anonymous , Maryland
The TSP just mailed over 150,000 people the 3rd quarter statement (2nd copy) instead of the 4th quarter statement so guess who will pay for this mistake. We need to make some real changes to the TSP Board!

My question- is this true? Can anyone confirm that they got a third quarter statement rather than a 4th quarter statement just mailed to them?

I would like to double check some facts and get thrid party verification before I do anything with this....

Thanks

[Eldritch Flatus]

"The 13-digit account number is very challenging for folks to remember," said Mark Hagerty, TSP chief information officer. "There's lots of work required to get the [customizable identification] up and operational, but it should make the site more user-friendly."

Holy Cow ... I had my 13-digit number memorized after using it a couple of times. Just how stupid do these people think we are???

Heh! You can bet your account that they are absolutley convinced that you, and we all, are stupider than they. So if we are stupider than them; and we already know how stupider they themselves are, you can get an idea of how stupider they think we are, cheese! :worried:
(all grammatacal, punctuation and spelling errors intentionally not corrected for illustrative purposes):D:embarrest:

May God bless this Country, it's people, and all of us on this message board, and especially our Country's leaders, whoever they are, Please pray with me for our leaders to be lead out of their darkness, and into the light. I truly fear they are lost.
God bless us all.
Ray

[Miss_Piggy]

"The 13-digit account number is very challenging for folks to remember," ..............Holy Cow ... I had my 13-digit number memorized after using it a couple of times. Just how stupid do these people think we are???
Help With Passwords
I’ve been using a tiny program to handle my trillion passwords for years that is excellent. I’m still using a ’99 Pro version but I’m sure today’s Lite, $20 or Standard $30 will suffice for quick handling of passwords. It’s called Perfect Keyboard and there’s a Trial Version. I love it. One just has to press 1 keyboard character to insert a password.

Homepage: http://softwareutilities.com/pkindex.htm (http://softwareutilities.com/pkindex.htm) Versions: http://softwareutilities.com/pk-editions.htm (http://softwareutilities.com/pk-editions.htm)
Costs: http://order.kagi.com/cgi-bin/store.cgi?storeID=PI2&& (http://order.kagi.com/cgi-bin/store.cgi?storeID=PI2&&)

[DrFaustus]

Help With Passwords
I’ve been using a tiny program to handle my trillion passwords for years that is excellent. I’m still using a ’99 Pro version but I’m sure today’s Lite, $20 or Standard $30 will suffice for quick handling of passwords. It’s called Perfect Keyboard and there’s a Trial Version. I love it. One just has to press 1 keyboard character to insert a password.

Homepage: http://softwareutilities.com/pkindex.htm (http://softwareutilities.com/pkindex.htm) Versions: http://softwareutilities.com/pk-editions.htm (http://softwareutilities.com/pk-editions.htm)
Costs: http://order.kagi.com/cgi-bin/store.cgi?storeID=PI2&& (http://order.kagi.com/cgi-bin/store.cgi?storeID=PI2&&)

I've been looking into password vaults myself ... basically its a minature database that is encrypted. Pretty neat idea, I think.

[charmed855]

I've been looking into password vaults myself ... basically its a minature database that is encrypted. Pretty neat idea, I think.

I have a simple system - all my passwords are equal.

[Tempest]

My problems at work- passwords change ALWAYS. But I do not have ' system administrator ' privileges to install. I guess Perfect Keyboard is for home use? Right?

[ChemEng]

I have a simple system

I created an excel spreadsheet that creates randomized passwords that are 10 digits long including 2 upper case characters, 2 lower case characters, 2 numbers, 2 special characters, and 2 random character cases.

To use it, just hit the "New Password" button to create random passwords until you get to one that you want. Then click the "Copy It!" button to copy the password to the top place on the list. Just make sure to save the spreadsheet before you close it because you wont be able to remember the passwords!

3150

[Miss_Piggy]

Charmed855 That is a very poor practice and you should never admit something like that on a public forum. You should have one of the moderators delete that post.

Tempest - Yeah for home use. At my agency one would have needed almost a Presidential approval to have a personal program installed on one's computer.

[charmed855]

Charmed855 That is a very poor practice and you should never admit something like that on a public forum. You should have one of the moderators delete that post.

I was just teasing. :toung: (forgot to include the appropriate smilie).

Sorry if I annoyed any hackers out there.

[DrFaustus]

I created an excel spreadsheet that creates randomized passwords that are 10 digits long including 2 upper case characters, 2 lower case characters, 2 numbers, 2 special characters, and 2 random character cases.

To use it, just hit the "New Password" button to create random passwords until you get to one that you want. Then click the "Copy It!" button to copy the password to the top place on the list. Just make sure to save the spreadsheet before you close it because you wont be able to remember the passwords!

3150

ChemEng,

I am impressed ... Very Nice!

Dan

[James48843]

Mike Causey today:


Round Up The Usual Suspects
February 1, 2008 - 2:00am

At a baseball game, scorecards are nice but not essential. But in tracking things like federal pay raises, and improvements -- or cuts -- in benefits, a combination calendar roadmap comes in handy.
For long-suffering career feds, February is 'Bring In The Usual Suspects' month. That's because this is the time each year when feds find out what kind of pay raise they should be (but won't be) getting.

Also, January and February are the launching pad months for horrible-but-real-sounding rumors. They are often circulated out of ignorance, or for the purpose of reducing civil servants to quivrieng jellyfish. Happens every year, even though the rumors never come true.

Here's a quickie survival course!

First pay: This is the budget time period when the president proposes an amount for the next white collar federal pay raise. Congress -- since the Clinton administration -- always counters, saying it is not enough. Congress (with the exception of one year) always wins. The final amount often isn't known until December but this being an election year, it could come sooner.

Fringe Benefits: This is also the time when politicians dust off ideas on ways to save money. Changes in the federal retirement programs are always on the list. But, like the annual proposal to eliminate the tax deduction for home mortgages, the retirement system isn't touched.
And that's it.

We'll be dealing with those issues -- the size of the pay raise and attacks on the retirement system, plus rumors, but remember, this is 'Bring In The Usual Suspects' month.

TSP Trading Limits

Most 401k plans have limits on the number of trades participants can make in a given period. In the federal 401k plan, about 3,000 investors are considered to be frequent (as in hard-core) traders. The Federal Retirement Thrift Investment Board says the costs of handling their trades will drive up the administrative fees for the other 2.9 million TSP account holders.

So . . .

Beginning next year (probably around April) the TSP plans to limit electronic trades to two per month. Any trades over that amount must be done by mail. Although small (but growing) in numbers, many of the frequent traders are making a lot of noise. They dispute the cost numbers put out by the TSP, and they don't like what they see as the Nanny State interfering with their right to make more (or lose more) money by moving from fund-to-fund.
On the other hand, many investors want to see the frequent-traders reigned in.

Whichever side you are on, you can comment on the proposed new rules. For information on the situation, click here.

[James48843]

Roth IRA Transfers Soon a TSP Option
January 30, 2008 - 12:42pm

TSP's Roth Transfers

The latest on your TSP.

Download mp3 http://federalnewsradio.com/emedia/105830.mp3


By Dorothy Ramienski
FederalNewsRadio

There are changes coming to the Thrift Savings Plan.

On Monday's Daily Debrief, Penny Moran, Director of Participant Services at the TSP, told Amy Morris about the new Roth IRA option.


"Currently, participants who are eligible, to withdrawal their TSP accounts as an age-based in-service withdrawal or a post-separation withdrawal, can transfer their funds to a traditional IRA or another eligible employer plan, like another 401k. . . . Within the next few weeks, we're going to be adding a third option, or third destination, if you will, and that is to a Roth IRA."
The difference, Moran notes, is that, unlike a transfer to a traditional IRA or other eligible employer plan, Roth IRA's have strict restrictions regarding who can transfer money into the accounts. There are also immediate tax consequences.


"For those folks who are thinking about Roth IRA transfers, we are strongly, strongly encouraging them to talk to a tax advisor to look at the benefits and make sure that they understand the eligibility requirements and the tax consequences before they request the transfer."
But why transfer TSP funds into a Roth IRA in the first place?


"Roth IRA's do provide the advantage of tax-free growth on, essentially, after-tax dollars. So that may help folks with their tax situations in the future, but it's a very individual kind of a situation and they need to understand where they think they're going to be in terms of their tax situation down the line."

Moran says not everyone is eligible to do this, however.

"You're not eligible for a Roth transfer if either one of the following conditions apply: your modified adjusted gross income is over $100,000 or you're married and file a separate return."

Even if a federal employee is eligible, there are some constraints.

"If you transfer that money, you're going to have to pay the taxes on that money either way. For example, if you transfer your money from the TSP to a Roth IRA this year, when you file your tax return in 2009, you're going to have to pay the taxes on the amount of money that you transferred to that Roth IRA. It's very similar to taking a traditional IRA and converting it to a Roth IRA."

Moran says no one at the TSP wants to encourage or discourage this type of transfer. Her job, she notes, is to simply make sure that TSP participants know this is an option.

"For some folks, it might be a really good idea. We just want to make sure that they have it right before they do it. . . . If you pay the taxes on it now, and, in the future, you're in a higher tax category, then you basically have tax-free growth on all of that money as long as you leave it in the Roth IRA for five years."

The bottom line: talk to your tax advisor or financial planner. He or she can give you the best options and let you know what's right for your situation.

The TSP will have some FAQ on their website about this new transfer program, but, Moran says, please remember that the TSP does not give tax advice to participants.

The change is expected to come in mid-February. Stay tuned to FederalNewsRadio AM 1050 for continuing updates.

(Copyright 2008 by FederalNewsRadio. All Rights Reserved.)

Source: http://federalnewsradio.com/?sid=1335853&nid=169

[DrFaustus]

[quote=James48843;147072]Mike Causey today:


Round Up The Usual Suspects

Beginning next year (probably around April) the TSP plans to limit electronic trades to two per month. ...

Does he really mean April of next year (2009)? I thought the restriction was to go in place in April of this year (2008).

Dan

[James48843]

Again- it is time to begin to prepare.

We need to find a Postal Employee in Birmingham Alabama, who has a family member who wants to make some money.

The TSP address for mail in transfers is in Birmingham. We need someone who is close to the post office there, who will take OUR e-mail information, and sit down and fill in some ovals, put our requests in envelopes, and then drop them off at the post office in the morning. That will eliminate a couple of days in the transfer time. And we can pay them a small for the work- (lets see- what is it worth to you, Mr. or Mrs. Birmingham Alabama resident?) to do it for us.

Now is the time to get this person identified and ready to do the work- it COULD become a nice little second income for someone who lives in Birmingham-

If you are a member of National Mail Handler's Postal Union in Birmingham http://npmhu317.rocket-city.us/
or the American Postal Workers Union in Birmingham, http://www.angelfire.com/al2/balocal303/


please let me know- I need to talk to you and set you, your wife( or husband, or cousin Jimmy, etc) up.


Any takers? PM Me.

[alevin]

That's a brilliant idea James-although I wonder if it would be considered a second job that would need prior supervisory approval. There are rules about that, but I've never tried to sit down and figure it out. Maybe the wife/brother/kid-small biz partnership idea would work, leave fed employee off the books.

[James48843]

Mike Causey today: from
http://www.federalnewsradio.com/?sid=1371963&nid=22



The R-Fund Rides Again!

03/26/08 02:00

A year ago, a vocal group of investors, industry lobbyists and influential politicians were demanding that the government add a REIT (real estate investment trust) option to choices offered by the Thrift Savings Plan.

The TSP offers federal, military and retiree investors a large cap fund, mid-small cap fund, an international index fund, a bond fund, a unique-to-feds treasury securities fund and five self-adjusting targeted funds. But for some investors, that isn't enough. They would like to invest some or all of their money in higher-risk/higher-reward choices. Like gold futures or emu ranching

At the time of the last R-fund push, REITs were hot. They had posted double digit returns year-after-year. But that was then. This is now.

Although REITs are primarily (sometimes exclusively) commercial real estate, the slump in the private homeowner market has had an impact on REITs in general.

The Federal Retirement Thrift Investment Board considered, then rejected, setting up a separate R-fund. It said that 8 percent of the investments in the S-fund (small cap) were in commercial real estate and that 1 percent of the C-fund (S&P 500 index) was in real estate.

The TSP managers have in past opposed what they considered to be funds targeted at a specific item or industry. Because of that they gave a thumbs down to the R-fund, to a proposed Gold fund, and (before the dot-com meltdown) a fund invested exclusively in the dot-com industry.

Ironically, now that the real estate market is in the, uh, tank, this would probably be a good time for long-term investors to get into REITs. Pro-REIT lobbyists and politicians are aware of this. They hope to attach piggyback language, authorizing an R-fund for the TSP, to any federal employee language that has a chance of passage this year. Look for out-going Rep. Tom Davis (R-Va.) to lead the legislative charge.


Investing & Fees

The TSP has the lowest administrative fees in the mutual fund business. They are less than half of what Vanguard (the industry leader in low-fee funds) charges its investors.


Leave The TSP

A number of mutual funds are very, very anxious to get feds to switch from the TSP, to their fund, when they retire. They've been spending pots of money advertising their products and warning that TSP accounts could dry up because they are not professionally managed.

Today at 10 a.m. EST on Your Turn with Mike Causey (http://www.federalnewsradio.com/?sid=759670&nid=251), Francis Rose and I will talk with Alan "Dare to be Dull" Roth (http://daretobedull.com/) about investing in the TSP. He will also touch on the pros and cons of moving your TSP account into an IRA when you retire. And how (and why) to diversify your TSP investments. That's 10 a.m. on the www.federalnewsradio.com (http://www.federalnewsradio.com/?nid=249) or at AM 1050.

Got a question or comment you want us to pass on to Alan? You can call in (if the boss will let you) or e-mail me at: mcausey@federalnewsradio.com (mcausey@federalnewsradio.com).

Nearly Useless Factoid

According to the National Restaurant Association (http://www.nationalrestaurantassociation.com/aboutus/faqs.cfm), August is the most popular month to eat out and Saturday is the most popular day of the week for dining out. Proving once and for all, when we can't stand the heat, we get out of the kitchen.
To reach me: mcausey@federalnewsradio.com

[garnertr]

I use:

Acerose Password Vault
http://www.dexadine.com/acerose.html
Version 1.0.4

I've been using this program since version 1.0.2 and its been good to me. But do NOT forget the password to access your passwords or you are totally screwed! I had this almost happen to me.... :)

Visit the site and take a peek...

[Guest2]

I'm wondering what it would cost me to send my TSP-50 "next day before
7:30am" via FedEx / UPS / USPS ? Even though they'll get it the next day,
will they use the "up to 2 business days" to process out of spite? It would
be there hours before noon and minutes before their first cup of coffee !
Heck, can they be Faxed ?

Things that make you say; Hmmmmmmmmmmm !;)

[James48843]

Again- it is time to begin to prepare.

We need to find a Postal Employee in Birmingham Alabama, who has a family member who wants to make some money.

The TSP address for mail in transfers is in Birmingham. We need someone who is close to the post office there, who will take OUR e-mail information, and sit down and fill in some ovals, put our requests in envelopes, and then drop them off at the post office in the morning. That will eliminate a couple of days in the transfer time. And we can pay them a small for the work- (lets see- what is it worth to you, Mr. or Mrs. Birmingham Alabama resident?) to do it for us.

Now is the time to get this person identified and ready to do the work- it COULD become a nice little second income for someone who lives in Birmingham-

If you are a member of National Mail Handler's Postal Union in Birmingham http://npmhu317.rocket-city.us/
or the American Postal Workers Union in Birmingham, http://www.angelfire.com/al2/balocal303/


please let me know- I need to talk to you and set you, your wife( or husband, or cousin Jimmy, etc) up.


Any takers? PM Me.

I am still looking for someone who lives in Birmingham Alabama to pick up this idea and run with it.

I've fine tuned it a bit-

Each person who is cutoff from doing anything but mail transfers- fills out, and signs, dozens of blank TSP-50 forms, and sends to the person living in Birmingham--

- a couple dozen of each of "ALL G"
and a couple dozen of "ALL C" TSP =-50 forms,

and then the person in Birmingham for holding.

The person in Birmingham then only has to do a couple things-

1. Take the phone call/e-mail on which way the individiaul wants to use the pre-signed TSP-50's, and then
2. Take that form and drop it in the post office in Birmingham for same-day delivery to the TSP.

Money exchanges hands when the same-day mail trade clears.



If all the forms are signed in advance, all the person in Birmingham has to do is put the right one in the mail.

ANY TAKERS?

[James48843]

From today's "Govexec.com"
http://govexec.com/story_page.cfm?articleid=39760&dcn=todaysnews



Senators seek broader TSP outreach efforts

By Alyssa Rosenberg arosenberg@govexec.com (arosenberg@govexec.com)
April 11, 2008

Lawmakers this week praised nominees to second terms on the board that oversees the federal employee Thrift Savings Plan, saying they had restored credibility to the plan and upgraded its customer service while lowering the cost to participants. But senators also called for greater financial literacy to prevent panic during economic downturns and new efforts to increase TSP enrollment among members of the armed services.

"I've had a very good relationship with the TSP board," Sen. George Voinovich, R-Ohio, told Alejandro Sanchez, Andrew Saul and Gordon Whiting at a hearing on Thursday. "They've acted responsibly, and you folks have a very heavy burden on your shoulders, because your decisions have a lot to do with the retirement of our federal workers, and the issue of educating our federal workers is something you ought to work on as aggressively as possible."

Saul, who served as chairman of the Federal Retirement Thrift Investment Board during his last term, said such educational efforts were under way, and were especially important during significant downturns in the stock market. But he also said TSP's offerings were designed to help employees weather downturns.

"We've had five years of tremendous growth in the economy and tremendous growth in the financial markets," Saul said. "We have had a rough quarter. Our plan is an index fund, which does track the markets. I encourage people who are not sophisticated, financially market-oriented people, to take a look at our life-cycle funds, which are the appropriate choice for times like these."

Whiting said the board has scheduled 355 educational sessions for participants, and will emphasize that they shouldn't approach the plan expecting immediate returns or intending to play the stock market, but rather that they should make regular contributions aimed at long-term growth in their accounts.

Sanchez said board members were particularly concerned with boosting the participation of military service members in the TSP. He noted that the board had met with representatives of the different services, and said he hoped the meeting would spark further cooperation.

"While half the active duty of the Navy is in the plan, and a third of the Air Force participates, we really need to increase the Army's participation," Sanchez wrote in response to questions from the Senate Homeland Security and Governmental Affairs Committee. "While participation from the armed services has nearly doubled in the past five years, more needs to be done."

Voinovich and Sen. Daniel Akaka, D-Hawaii, said they were impressed that costs had fallen during Saul, Whiting and Sanchez's first terms. Saul said that was an important goal, but costs would rise temporarily in the next two years because of infrastructure improvements.

"We have embarked on a plan to increase and modernize the technology of the TSP, and that is going to entail an increase this year and next year," he said. "We need to be sure that our infrastructure and our staff can cope."

[Eagle_Addict]

I sent a TSP-50 request via Priority Mail with Delivery Confirmation on Monday evening and have the USPS proof that the package was delivered to the TSP address on Wednesday, 9 April 2008 at 1035 AM. The website shows the following:
+++++++++++++++++++++++++++

Label/Receipt Number: 9101 7850 9140 1524 1991 09
Status: Delivered

Your item was delivered at 10:25 AM on April 9, 2008 in BIRMINGHAM, AL 35238.
+++++++++++++++++++++++++++

As of Friday evening, I show nothing has happened to my account, I am still 40% in stocks and have been locked in all week........My goal was to miss this meltdown today that I knew was coming, so now I drop a few thousand dollars because some TSP employee cannot process these TSP-50s in a timely manner???? What good would sending an overnight request be if some minimum wage envelope opener cannot process a request within 2 days????? Kind of pissed, what can we do about this??I think the TSP needs to give an assurance that a request will be placed in the system within 24 hours of receipt, DON'T THEY WORK FOR US?!?!?!?!?!?!?!?!?

Very ticked off, what are our options??

Thanks, EA

[rockhound]

TSP acknowledged receipt of my request on the 8th,....they tell me it might get processed by next Monday, maybe Tuesday, but definitely by Wednesday. Same boat,..tried to jump to safety from the C fund (100 %) into the G fund. Not happy.

[Gaetaone]

I got lucky... sent mine in snail mail (not registered) last Wed and it went in this morning (50 G & F). Sent one in yesterday to go to S. Figured by the end of next week I could buy in lower. Just felt lucky... Nice educated system this is..... I think I'll go play some slots....

John

[Asylum]

stocks are not a bad place to be now eh?

[James48843]

From today's "Govexec.com".
http://govexec.com/story_page.cfm?articleid=39820&dcn=todaysnews

TSP automatic enrollment, fund transfer restrictions move forward

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

Thrift Savings Plan participants aren't likely to see changes in the types of funds they can invest in, despite roiled markets, federal and industry officials said on Monday. But modifications to interfund transfers and enrollment are coming down the pike.

"This has been one of the most turbulent times in the equity and debt market," Andrew Saul, chairman of the Federal Retirement Thrift Investment Board, told representatives of Barclays Global Investors Services. "You are facing fiduciaries who are responsible for a lot of hard-working people who are counting on that money for their retirement."

Blake Grossman, chief executive officer of BGI, said the company would take that turbulence into account in its modeling, but financial fundamentals were still strong, and BGI saw no particular need to make major changes in its investment approach at this time.

"What we've seen in the financial markets has been the most dislocated market we've seen in probably 50 years," Grossman said. "We've seen volatility in one market get spread in a way we hadn't previously, and we're taking that into account in risk modeling."

Grossman noted that TSP investments managed by BGI are protected from some market fluctuations by rules that do not allow the firm to loan TSP securities to companies that potentially could default on them. He would not comment on specific investments, but said TSP members should not worry about their investments becoming tangled up in the problems of financial firms such as Bear Stearns, an investment bank recently bailed out by the Federal Reserve and JPMorgan Chase.
TSP members, however, are likely to see procedural changes in the plan's operation.
Gregory Long, TSP chief executive officer, said the board was close to publishing its final regulation on interfund transfers, which would limit participants to two transfers per month, after which they would be allowed only to shift money into the Government Securities Investment Fund. The comment period for the proposed rule (http://a257.g.akamaitech.net/7/257/2422/01jan20081800/edocket.access.gpo.gov/2008/pdf/E8-4776.pdf) ended April 9.

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.

[Braveheart]

From today's "Govexec.com".
http://govexec.com/story_page.cfm?articleid=39820&dcn=todaysnews

TSP automatic enrollment, fund transfer restrictions move forward

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

Thrift Savings Plan participants aren't likely to see changes in the types of funds they can invest in, despite roiled markets, federal and industry officials said on Monday. But modifications to interfund transfers and enrollment are coming down the pike....

You might see some more very tough comments on this - actually you will.

[Guest2]

For the betterment of all mankind, the proposed limits are (IMO) a done
deal awaiting language approval. Automatic enrollment is a great idea and
has been purposely wrapped into a "sausage link" to give the impression
that its all good for us.

"Senate staffers delivered to TSP officials an automatic enrollment bill"

Senate staffers should have delivered a IFT Limit/Fee Bill instead. As
Ray Orbison once sang; "Only In Dreams"

It would appear that the battle has been lost. But I (and others) have
a private War concerning "penalties" which won't go away so easily or
any time soon. After all, there's a 3 year statute of limitations for those
who can not afford the cost of legal action at this very moment.

Wouldn't be ironic that a TSP Loan would allow an individual the financial
ability, to hold the providers of such a loan, legally responsible for loses.
:nuts:

[Braveheart]

You might see some more very tough comments on this - actually you will.

TSP automatic enrollment, fund transfer restrictions move forward

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

I am just at a loss to understand why all of the letters to congress and replies to the TSP about limiting my ability to move my money more then twice a month has gone unheard. Seems they had already made up their minds before they asked the question. Maybe I will write my congressman again and discuss allowing federal employees to withdraw their funds. That will get the attention of the TSP. Anyone want to help with that option?

Chuck Wamack Posted April 22, 2008 4:34 PM
I agree that the people who want to execute multiple interfund transfers should be able to pay a fee to do so. That way, the other people in the fund will not unwillingly subsidize their activity. I also agree that making automatic enrollment the default option for new hires makes sense. People can opt out if they are so inclined.
The Government has a vested interest in keeping as much money in the TSP as possible. Each year, the big balances in the investment accounts offset a huge amount of government spending on the books, thus making the annual federal deficit appear to be much smaller than it really is.
The TSP model reminds one of the insurance industry, if you compare the TSP to a whole life or universal life policy. You get a choice of what special account your premium goes into, but the fine print on the policy says that the special account is the property of the insurance company. Many people writing in seem to think that the TSP Board treats individual accounts this way, too. You have to pay interest when you borrow your "own" cash out of the policy, just like when you borrow from your own TSP accounts. The insurance company offers their menu of chosen investment options in their policies, just as the TSP does. The TSP takes a percentage off the top for expenses, even if your accounts don't make any money that year, just like the insurance companies. And the options to cash out a policy are also controlled, just as the TSP's options are limited, to hold down costs. Of course, TSP's expenses are way lower than the insurance industry's are. And the insurance companies don't offer a dollar-for-dollar match on your premiums, either.

Budgeteer Posted April 22, 2008 4:27 PM
I'm not sure how one could take a position that employees are abusing a system when they are abiding by the rules in place. Now the TSP managers have punished employees for utilizing the system within established rules. The decisions they have made are arbitrary. Those identified as "abusers" are now forced to rebalance their accounts by mail. Once recieved, these forms are taking up to a week or more to process! With a volatile market, how can one possibly manage their account under those conditions? Make no mistake, TSP members are being punished for rebalancing as they were legally allowed to do. Oddly enough, those not identified as "abusers" are still allowed to rebalance daily. Others have been restricted even though they did not receive an initial warning. Some of these have had the decision reversed. Not only that, but TSP managers are now monitoring message boards where TSP members are discussing this issue and using that information against them. If this isn't over reaching and abuse of power, than I don't know what is.

Joe Posted April 22, 2008 3:44 PM
Statistic after statistic shows that the more people mess with their investments, the lower their annual performance, ON AVERAGE. I'm tired of all the folks who think they can do better, _lower investment costs_ is the only _statistically proven_ way for most people to outperform, not specific fund or allocation changes. If more of the know-it-alls would read _Millionaire Next Door_, maybe they would have a better understanding of the relevant information. I've had a few different 401k's and SIMPLE IRA's at previous employers, and the TSP is a flat-out superior plan to them. I don't care if you think the grass is greener on the other side of the fence. Most people are doing better with the TSP then they would on their own, and the TSP serves them well. Remember that this is the majority, folks.

Thomas Posted April 22, 2008 2:51 PM
First the lack of new members joining this system is a result of the changing Federal workforce where many of the employees who are retiring are having those jobs backfilled by contractors who are not eligiable to join the TSP program. Second the choices to determine our own stragies for managing our own TSP funds are being limited by the new rules that the controllers of this fund have dictated to be put in place. During the pass 6 weeks not only was I able to basically protect my funds from losses that were predicted correctly by the financial news groups by movement to the G fund I was also able to partially jump back to the I fund and make about 4K on a 50K investment in the I fund that I would not have had the chance to do under limited transfers. Bottom line the money belongs to the individuals, not the controllers which makes limiting the number of transfers just wrong!

Peter Crumley Posted April 22, 2008 1:25 PM
First you want to tell contributors they can only move THEIR money twice a month regardless of market conditions, thereby limiting their free will. Now you want to automatically FORCE people to contribute without the benefit of determining freely how and when their money can be invested. And they talk about allowing private investing for social security. I don't know about anyone else, but this is nuts to me. Will someone put an end to this insanity.

joe dygas Posted April 22, 2008 11:56 AM
Current TSP was outdated when FRTIB bought it. Costs savings were a direct result of service cuts. It's only a matter of time before ALL of the TSP, not just the G fund is controlled totally by the FRTIB in order to keep the financial systems afloat. The real issue is that control of billions of dollars is a heady thing, and being able to effect markets is power in its purest sense. It's crazy how governing committee picks at the TSP (for money). I wish someone would do something about the cost of a gallon of gas.

Loose Change Posted April 22, 2008 11:54 AM
Being over 59.5 years of age, in early January 2008 I moved 100% of my TSP funds to a Charles Schwab traditional IRA. As of yesterday evening, 4/21/08, I'm up 23%. Too bad TSP participants are essentially trapped until they're 59.5 years old. There seems to be a movement to restrict government employees' ability to manage their retirement funds. For example, until September 2007, under IRS Revenue Ruling 90-24, teachers and others with 403(b) plans, regardless of age, could move their funds to brokers like Charles Schwab where they would have a much wider range of investment options at lower fees - in September the IRS slammed the door shut on that option. The question is, who benefits from large pools of dependably stable retirement funds - the banks, brokers, or even the government itself? And why?

Ed Posted April 22, 2008 11:31 AM
It is always interesting to read this type of article. While it appears to me the TSP Board should be focusing on money management decisions to protect the life savings and retirement funds of federal employees, they are spending their time trying to prevent people from trying to protect their own savings. I would think the TSP would be trying to find ways to improve the process of alerting enrollees of potential losses of their life's savings and retirement funds and instituting a safe habor against huge losses as many enrollees have encountered this year.

richard l. redmon Posted April 22, 2008 11:28 AM
I plan to retire in FY-2011 and I hope OPM would have the RetireEZ plan in place by then. I just assisted an elmpoyee with his Retirement papers. There was 21+ sheets of papers to fill out and my ageny waited until a week before he is to retire, presented him with all of these forms, which was very unfair. Sometime you may have to send to another agency for information for proof.

Peggy A. Jackson Posted April 22, 2008 10:10 AM
Automatic enrollment in TSP? What a wonderful idea. After dismantling CSRS 20 some years ago, we'll now have Social Security plus Mandatory TSP. Perhaps to the tune of 7% of salary? Why not move people back into CSRS. Seems to me FERS failed if it has to be forced.

what a joke Posted April 22, 2008 8:37 AM
The TSP is made up of index funds. However, in this article the TSP leadership makes it appear that they are actively managing our money ("modeling" and potentially making "major changes" in their "investment approach"). They are making their role seem bigger than it is or should be in order to create a false sense of security amoung TSP investors. The current TSP leadership has a condesending, big brother attitude toward its investors. They appear to believe TSP investors are uninformed, easily fooled and need protection from themselves.

[Braveheart]

You might see some more very tough comments on this - actually you will.

TSP automatic enrollment, fund transfer restrictions move forward

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



I am very much against fund transfer restrictions as I was when the number of loans were reduced to only one. The Contractor who was awarded the the contract to manage the TSP has been very bad in my judgement.
I hope they put it to a vote.
Rodolfo Villarreal Posted April 22, 2008 7:48 AM

Well....I'm amazed, but not surprised! So once again "Big Brother" knows best for me, not!!! It is really time for Mr Long to go; instead of wasting MY TSP money by accepting a salary. It is nothing more than a blatant case of 'knidergarden discipline'; little Johnny got out of line so the rest of the class has to put their heads down. Gosh, I actually thought that the good old USA was still the land of OPPORTUNITY, not in this case. Aren't you proud to have taken the easy way out instead of invoking fees; just like the private sector. By the way, I have NEVER done more than 1 transfer in a month, and usually only 1 or 2 in 3 or 4 years. But, I support the right of free thinking people to control their own destiny. Shame on you TSP board, shame on you!
Chuck at the FAA Posted April 22, 2008 7:39 AM

Why don't they just cut to the chase and tell us that everyone is going to be consigned to the "L" Funds --apparently the money spend rebalancing those funds on a daily basis somehow doesn't count as a TSP cost factor. They've clearly shown us that they will do whatever they want to do anyway.
Paul D. Posted April 22, 2008 7:39 AM

I beleive that automatic TSP enrollement is a wonderful thing. Many young people in the FERS retirement system do not understand that TSP is part of their retirement and that even just a small % taken from their pay bi-weekly would add substantially to their retirement income.
Susan Nash Posted April 22, 2008 7:32 AM

Forced automatic TSP enrollment is theft. Rep. Davis and the TSP board should be put in prison if they enact this plan. Federal workers are being treated like they are unable to manage their own finances.
Hermy Posted April 22, 2008 5:50 AM

It's a travesty that TSP Board decided to penalize and impose prohibitive measures on those that desire to take action and control over their future retirement by moving around their "own" savings. I thought that the original intent of the revised TSP few years was "flexibility". In an era when we have too many clueless executives steering the financial markets, corporate elites steeling us blind and the economy in a mess yet the FED and the politicians are only saying "things will get better".... WHEN? We need the financial flexibility to maneuver within TSP instead sitting on our ass*s, remaining silent and do nothing while our retirement nest-egg is going down the tubes.
Living on hope and empty promises is not good enough!
Richard I. Friess Posted April 22, 2008 5:33 AM

The Hearing is for a PROPOSED RULE from a scam artist in Mr. Long with the entire board. First question ask Mr. Trabucco where is the 100 Million he can't account for. If you need a witness Senator Joe Lieberman and Senator Susan Collins caught the FRTIB missing $36 Million. 2nd Question is what the hell the rush is. Mr. Long's master plan was suck people in to get $400,000 into their retirement funds then tell them you can't make any addition transactions after 2 that is a shell game. This has Enron written all over it. NEVER TRUST ANYONE WHO TELLL YOU YOUR MONEY IS SAFE AND WORSE NEVER TRUST ANYONE WHO COMMITTED A CHRIME BY FREEZING ACCOUNTS WHEN THERE WAS NO RULE IN THE BOOKS THAT GAVE HIM THAT AUTHORITY. This man and all of the TSP need to be grilled. They lied to Congress with false data that we have to support those facts. It is time for Congress to find out who hired all of these individuals what their agenda is and their political connection to President Bush. You can't change the rules after you sucked 3.9 million members into this program under a false umbrella. If anything the new members could start with 2 IFT's and they would at least know what they are getting but their must be a grandfather clause for all current members to keep the TSP exactly the same otherwise every member should be allowed to remove all their funds without penalty. Either way it's a sham they made this decision up months ago and never read a single complaint and think Congress and the Senate are a joke and you can't touch them. POWER = GREED and someone is going to make money on this plan so I ask congress first step is remove Barclays from the TSP. The are questionable at best and they have a play here without a doubt. Don't let Mr. Long fool you he is in the pockets of special interests and will sell out 3.9 Million Government Works to shove this plan down your throats because simply put he is banking on NO ONE HAVING THE COURAGE TO STAND UP AND STOP THIS ON THE GOVERMENT OVERSITE COMMITTEE. From what I have witnessed I think Mr. Long is right no one of you has shown the spine to do a thing. PROVE ME WRONG.
UNION YES Posted April 21, 2008 11:05 PM

Why not let the member make so many interfund transfer as long as they are charge with a certain interfund transfer fee every time they make the transfer.
Marc Lumabas Posted April 21, 2008 6:23 PM

[luv2read]

Federal Retirement Thrift Investment Board Chairman Andrew Saul said publicly in a recent Senate hearing and more privately in an FRTIB meeting this week, that federal employees should not attempt to anticipate fluctuations or game the market. What Senate hearing was this???? Was anyone there to present our side, or was it all one-sided FRTIB propaganda? Anybody got any information? I know there's one 4/29.....:confused:


It took massive disruptions in the stock market to affect the TSP's performance to a significant degree. Note: NOT "excessive trading" by TSP participants.



With any luck, the upcoming briefings the TSP board has planned for federal employees will help spread Saul's message far and wide.TSP briefings to employees? Now that's news.

And...Mr. Long says that they are close to posting the final rule on the proposed limits. I'm more confused as to how this is getting done so quickly since the comment period ended April 9 and there were thousands of comments submitted.

All comments have to be processed and addressed.
TSP staff is busy monitoring MB for "disparaging remarks" made about FRTIB and TSP staff, and attempting to match up restricted TSP participants with their MB posts.
It takes up to 2 weeks to process a paper IFT.How can they possibly have considered and addressed all the comments and be "close to" posting it in the FR when it takes up to 2 weeks to process an IFT?


Pay and Benefits Watch
Needed: Information, and Lots of It
By Alyssa Rosenbergarosenberg@govexec.com (arosenberg@govexec.com)April 24, 2008

Stability is one of the government's major selling points when promoting public service employment.

Consider financial benefits. The Thrift Savings Plan offers participants strong returns at some of the lowest costs in the industry. Health benefits are stable, too. While many companies are moving away from guaranteed health benefits, cutting coverage such as dental and vision or requiring new employees to wait until they have completed probationary periods to be covered, the Federal Employees Health Benefits Program has expanded its offerings, adding vision and dental programs for federal employees.

But the past several months have been a tough reminder that as strong as federal benefits are, they are not immune from market forces.

Markets worldwide have stumbled under the tight credit crunch, and the Thrift Savings Plan is no exception. During the first three months of 2008, the TSP's stock funds have fallen between 9 percent and 10 percent while the bond fund, which is less dependent on the equity market, grew 2.26 percent and government securities fund rose 0.9 percent.

Federal Retirement Thrift Investment Board Chairman Andrew Saul said publicly in a recent Senate hearing and more privately in an FRTIB meeting this week, that federal employees should not attempt to anticipate fluctuations or game the market. Because the TSP is basically an index fund, as the stock market goes, so go their savings. Saul has the unenviable task, along with other TSP board members, of convincing federal employees that this recent downturn in the market will pass, and that sticking to a steady investment plan with a long-term outlook is their best bet.

Government Executive's report last week that many federal health care plans require that participants pay more for so-called specialty drugs (http://govexec.com/dailyfed/0408/041708ar1.htm) demonstrated that employees may be protected from the economic pressures that their private sector counterparts face, but they can't escape them entirely.

It's not clear yet how the companies that offered these pricing plans developed them or how many federal employees have been affected by higher prices for some of the drugs that treat anemia, hepatitis C, multiple sclerosis, rheumatoid arthritis and certain kinds of cancers. But it's undeniable that drug prices in general are increasing, and someone, be it pharmaceutical companies, insurers, plan enrollees or the federal government, will have to pick up the tab.

But there are also indications that federal employee benefits are basically strong. It took massive disruptions in the stock market to affect the TSP's performance to a significant degree. And FEHBP may not be perfect, but the federal government has avoided the draconian steps some employers have taken to cut health care costs.

In both cases, educating federal employees about the funds and health plans will not fix the problems that they face, but it can help them avoid situations that will leave them in a financial pinch. Insurance companies and the Office of Personnel Management have an obligation to flag as early and aggressively as possible changes in coverage that will affect costs. And they have a responsibility to do it in plain language. With any luck, the upcoming briefings the TSP board has planned for federal employees will help spread Saul's message far and wide.
After all, one thing that federal benefits have in common with private sector offerings is this: They exist in a tangle of bureaucratic language that disguises critical changes and offerings. Federal employees live in an unpredictable world. The more help they have to navigate it, the better.

[Viva_La_Migra]

What Senate hearing was this???? Was anyone there to present our side, or was it all one-sided FRTIB propaganda? Anybody got any information? I know there's one 4/29.....:confused:

Note: NOT "excessive trading" by TSP participants.

TSP briefings to employees? Now that's news.

And...Mr. Long says that they are close to posting the final rule on the proposed limits. I'm more confused as to how this is getting done so quickly since the comment period ended April 9 and there were thousands of comments submitted.

All comments have to be processed and addressed.
TSP staff is busy monitoring MB for "disparaging remarks" made about FRTIB and TSP staff, and attempting to match up restricted TSP participants with their MB posts.
It takes up to 2 weeks to process a paper IFT.How can they possibly have considered and addressed all the comments and be "close to" posting it in the FR when it takes up to 2 weeks to process an IFT?
In short, they are going to ignore the comments and do what they want. They will be able to say they responded to the comments, because they will send a form letter to the individuals that submitted comments. That letter will say, in effect, "you are too stupid to manage your own funds, so we are going to do it for you. Either you get with the program and get into one of the lifecycle funds, or you will be restricted."

"RESISTANCE IS FUTILE!"

[k2ds]

They had their minds made up from day 1 and nothing was going to change it period…
The lying SOB’s should ALL rot in HELL (or at least jail)!!
(I think I can say that.. This still is a free country isn’t it??)

[James48843]

Note:

I saw this today on the TSP website:


"Don't like using your 13-digit account number to access your account on the Web? Beginning June 30, you will be able to create your own custom user ID. Don't be surprised – the Account Access page will have a new look, and the custom ID option will be on the Menu page. Check back here June 30 for more information."

[James48843]

From today's Goverment Exec.com:
http://govexec.com/story_page.cfm?articleid=41004&dcn=todaysnews


Where to turn when the TSP tanks
By Alyssa Rosenberg
arosenberg@govexec.com (arosenberg@govexec.com)
September 18, 2008

Prevailing wisdom dictates that even when Wall Street is in an uproar (http://www.govexec.com/story_page.cfm?articleid=40967&dcn=todays_most_popular), investors -- especially those with an eye on long-term gains -- should keep their cool. And that's the point the Federal Retirement Thrift Investment Board wants to drill home as Thrift Savings Plan funds continue to take hits.

In a steady stream of messages, the board reminds TSP participants that it's impossible to predict what the stock market will do next, so day-trading is unlikely to produce positive results. And since markets generally grow gradually, there's no reason to panic.

But if you have a hard time sitting still and watching your retirement savings dip, there are some outlets that offer a different perspective. We've highlighted a few below. Please note that this list is not comprehensive and Government Executive does not endorse any of these resources. We also suggest you visit the TSP's official Web site (http://www.tsp.gov/) if you haven't already done so.

1. TSP Talk (http://www.tsptalk.com/) is a message board and resource aggregator run by a federal employee who has invested in the TSP since 1984. The site focuses on beating the market, and awards monthly prizes to members whose TSP accounts perform the best. When the TSP board instituted interfund transfer restrictions earlier in the year, it cited TSP Talk (http://govexec.com/dailyfed/0408/042408ar1.htm) as evidence that some plan participants were making frequent trades to the detriment of other investors. More than 4,000 participants signed a TSP Talk petition opposing the restrictions. No matter what your approach is to investing, TSP Talk provides a lively conversation.

2. TSP Center (http://*********.com/index.php) was created by a TSP investor, and has a message board, investment calculator and -- like TSP Talk -- a leader board highlighting the site members whose investments have done well. It also features FantasyTSP, a tool that lets investors track their own performance and model different strategies.

3. TSPGO (http://www.tspgo.com/) tracks the performance of Thrift Savings funds against the Standard & Poor 500 Index, and makes buy, hold or sell recommendations.

4. TSPMoney (http://www.tspmoney.com/) features an earnings calculator and a free desktop application to help you track your account's performance.

5. Thrift Trading (http://www.thrifttrading.com/), TSP Pilot (http://www.********.com/index.htm) and TSP Key (http://www.tspkey.com/index.html) are paid services that provide investment allocation advice.

6. The TSP Report (http://thetspreport.com/) and the The TSP Advisory (http://www.tspadvisory.com/index.htm) are subscription-only publications that offer market analysis and investment models.


(thanks Govexec.com!)

[fabijo]

Alright! TSP Talk was the site with the biggest description. That makes us the most legit.

[Guest2]

No Fabijo, its members like yourself and others that make
this site the most legit. In fact, its "Too Legit To Quit"
{MC Hammer Reference} ! ;)

[James48843]

From http://www.govexec.com today:




TSP weathers sharp spike in transactions

By Alyssa Rosenberg
arosenberg@govexec.com (arosenberg@govexec.com)
October 20, 2008

The recent chaos in the financial markets taxed the Thrift Savings Plan's computer and telephone systems, but TSP employees said on Monday they learned valuable lessons that will aid modernization efforts.


"It was a busy day," TSP executive director Greg Long said of Oct. 10, during a meeting of the Federal Retirement Thrift Investment Board. On that day, phone calls to the plan's ThriftLine spiked from a normal volume of around 18,000 to nearly 35,000. "We were slow on the phones [and] on the Web transaction standpoint, but we got it done. This is a lesson for us going forward," Long said. "We're never going to be staffed for tremendous spikes."


Long said that the TSP doesn't plan to increase its staff because a permanent spike in call volume is unlikely.

More ... http://www.govexec.com/story_page.cfm?articleid=41222&sid=2

[McDuck]

"By law, the assets in the TSP are held for the individual participants," he said.


That can be an IOU.

[hessian]

Here's a good one! Laughable, though sad (posted today in Show-me's thread also).

Retirement Fund Director Seeks to Calm Investors' Nerves.
Tuesday, October 21, 2008; Page D01
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/20/AR2008102002616.html?hpid=news-col-blogs (http://www.washingtonpost.com/wp-dyn/content/article/2008/10/20/AR2008102002616.html?hpid=news-col-blogs)
:sick:

I would take the POSTER though - since they decided to create and "distribute" one (if I could find it). :rolleyes:

[Guest2]

Long; "Don't let the market freak you out".

Don't you just hate it when the powers above (FTRIB) use words like
"freaking out" to describe TSP Participant decisions. I envision this man
as Spicolli in Fast Times At Ridgemont High !

DUDE, PASS THE BONG, DON'T BE A BOGARD !

[Silverbird]

Well, he forgot to warn people beforehand, the smart ones who felt they needed to bail, already did, and are now looking to see if there's a bottom soon! "I told you so!" after the fall doesn't cut it.

[hessian]

Long; "Don't let the market freak you out".
Don't you just hate it when the powers above (FTRIB) use words like
"freaking out" to describe TSP Participant decisions. I envision this man
as Spicolli in Fast Times At Ridgemont High !
DUDE, PASS THE BONG, DON'T BE A BOGARD !
Good one. I liked Spicolli - "I Don't Know" - I can't help thinking, maybe he knows something we don't - some insider info on the market, that its going to rebound soon?! :cool::rolleyes: -NOT (Wayne's World) ;)

[Guest2]

Good one. I can't help thinking, like Spicolli - "I Don't Know" - maybe he knows something we don't - some insider info on the market, that its going to rebound soon?!

You give him too much credit. Even Paulson and Ben don't know that.
No, Long is simply spewing out the right information to the wrong people.
Think of yourself as a rookie, just coming into this mess. This may be the
greatest time to start investing for the next 20-25 years. But for you, me
and any other short timer, his words are absolutely worthless.

[hessian]

You give him too much credit. Even Paulson and Ben don't know that.
No, Long is simply spewing out the right information to the wrong people.
Think of yourself as a rookie, just coming into this mess. This may be the
greatest time to start investing for the next 20-25 years. But for you, me
and any other short timer, his words are absolutely worthless.

I agree. You missed my sarcasm (:rolleyes:). Anyway, Long must have the IQ of a pea. He's trying to calm the storm, after the Hurricane has past (and its his policies that got the 99% of TSP participants in the situation they are in, by sticking to this insane investing ideas! I wonder how he sleeps at night!
BTW, we never really connected before - I got 4 years to MRA (and also alot of ground to make up, as I started investing late). Keep up the great posts!! And Thanks ;)

[Guest2]

I agree. You missed my sarcasm (:rolleyes:). Anyway, Long must have the IQ of a pea. He's trying to calm the storm, after the Hurricane has past (and its his policies that got the 99% of TSP participants in the situation they are in, by sticking to this insane investing ideas! I wonder how he sleeps at night!
BTW, we never really connected before - I got 4 years to MRA (and also alot of ground to make up, as I started investing late). Keep up the great posts!! And Thanks ;)

I did miss the sarcasm, Too much in a hurry sometimes. The connection is
my pleasure and we have tons in common concerning the time we have
left. Thanks for the kind words ! :)

[James48843]

Today, on Govexec.com:

TSP holds steady amid economic downturn

By Alyssa Rosenberg
arosenberg@govexec.com (arosenberg@govexec.com)
November 24, 2008

After a tumultuous October, the board and staff of the Thrift Savings Plan said on Monday that the program is fundamentally strong, and they are monitoring allocations and the investment practices of the major contractors who handle TSP funds.


"I think everyone knows that October was a difficult month in the capital markets," said TSP Executive Director Greg Long on Nov. 24 at the organization's monthly meeting. "Volumes have been high, activity's been high, we've had significant funds move to the G Fund, but we have weathered those storms and are helping participants as best we can."


In particular, Long was referring to a sharp spike (http://govexec.com/dailyfed/1008/102008ar1.htm) in queries to the TSP's call centers on Oct. 10. Pamela-Jeanne Moran, TSP's director of participant services, said the call volumes have returned to normal, and most callers were asking about withdrawals from their TSP investments and loans.


TSP participation was constant between September and October, hovering at 85 percent, down from a high of 86 percent in May. Participation among members of the uniformed services actually rose slightly from September to October, from 27.1 percent to 27.5 percent, driven mostly by a 1.1 percent increase in enrollment among members of the Ready Reserves.


Those members, however, were moving their money. The balance of the G (government securities) Fund increased by $5.5 billion from September to October as investors sought a safe haven in the TSP's most stable offering. Fifty-one percent of all TSP funds are now in the G Fund. In contrast, investors transferred $2.3 billion out of the C Fund, which tracks Standard & Poor's 500 Index, and the fund's value dropped 16.83 percent in October. Its overall value is down 36.08 percent since October 2007.


While Tracey Ray, TSP's chief investment officer, acknowledged during Monday's meeting that losses have been substantial in some funds, she said it could have been worse, and TSP investors are protected by more conservative allocations in certain funds.


"Our [Life-cycle Income Fund, for federal employees about to retire] is 85 percent income and 15 percent equities," she said. "But that's not a rule. That's determined by the individual [investment firms]. Other organizations, maybe for marketing purposes, make their allocations more aggressive."


That caution extends into other areas of TSP oversight. Barclays Global Investors, a British firm that oversees funds that four TSP funds buy into, engages in some securities lending, a practice where large lenders take collateral and fees in exchange for some of their securities, which borrowers then use in other transactions. This is a common approach, and



Long wrote in a memo to the Federal Retirement Thrift Investment Board that Barclays is conservative in its securities lending, and the practice should not be a cause for concern.


"We were very clear that we understood the risk controls and properties," Long said during the meeting. "We are comfortable that BGI has the appropriate processes set up around securities lending. It doesn't mean we have to stop looking at this."


While the board and staff are confident they are safeguarding participants' investments to the best of their ability, they are still bracing themselves for negative reviews on a survey given to 35,000 federal employees and military members on Nov. 14. Survey responses are due by Nov. 16.


"Even if our services are better in every conceivable way, there's the reality that if your account is down 10 percent or 15 percent, than you're likely to be dissatisfied," Long said. "I don't know how we're going to correct for that."


Source: http://govexec.com/story_page.cfm?articleid=41491&dcn=todaysnews

(Hint- Hey Mr. Long- How about letting us have unlimited moves back. That would compensate...)

[James48843]

Meanwhile, those holding 401(k)s in private industry are also looking at how they are holding their money:

From Yahoo tonight:
http://news.yahoo.com/s/nm/20081124/bs_nm/us_hewitt_retirement;_ylt=AkIbakCInsDdmmpoIXuyYe2s 0NUE

Workers cautious about 401(k) investment: study

Mon Nov 24, 2:29 pm ET

NEW YORK (Reuters) – Workers are increasingly cautious about investing in corporate retirement funds, having shifted money out of stocks, reduced how much they contribute and, in some cases, stopped contributions altogether or withdrawn money, according to a study released on Monday.


The study by Hewitt Associates, which administers 401(k) plans for corporations, found the average U.S. 401(k) plan balance was down 14 percent through October to $68,000 from $79,000 in 2007.


401(k) refers to a section of the U.S. Tax Code that allows retirement plan investors to defer paying taxes.


Hewitt, a human resources consulting and outsourcing firm, found 4 percent of workers had stopped contributing to their plans in response to the declines on Wall Street, and fewer are investing in stocks.


Many people moved money into safer assets after particularly bad days in the stock market, said Pamela Hess, Hewitt's director of retirement research.


"I see people that are very unsophisticated moving to cash, but I also see people who believe themselves to be sophisticated trying to time the market," she said. "If you get out just after it goes down, those people are guaranteeing they don't get the upside."


Stock holdings now account for 53.8 percent of assets, down more than 14 percentage points from a year ago. The decline reflects both the changes in allocation and the lower value of stock holdings.


Hewitt's analysis included 2.7 million U.S. employees and data collected through October.

INCREASED TRADING


"We're certainly seeing higher trading activity as people got their statements in the mail. The bad news is kind of sinking in," Hess said.


So far in November, balance transfers from equities are up further, with the money transferred to bond and stable value funds, as well as balanced funds, which mix equities, bonds and other assets with an eye toward preserving capital.


About 71 to 72 percent of eligible U.S. workers contribute to 401(k) plans, down about 2 points since the start of the year, according to Hewitt. On average, they set aside 7.8 percent of their pretax earnings for retirement investments, down slightly from 8 percent in 2007.


"I was surprised that number didn't go down more," Hess said.


More employers have put in incentives to invest, such as increasing their match, and some workers -- tempted by lower prices -- have increased contributions, she said. However, the proportion of new money dedicated to stocks is at an all-time low, at 58 percent.


Some employees, especially in economically sensitive sectors like retail, have stopped contributing altogether. Also, since the credit crunch has made borrowing more difficult, more employees are also tapping 401(k)s for cash.


Overall, 6 percent of employees pulled money out, up from 5.4 percent a year ago. So-called hardship withdrawals, in which workers have to meet certain criteria but are still liable for penalties and additional taxes, are up 16 percent. Loans, which often come with low interest rates, are a better option, Hess said.


One factor to watch in coming months, according to Hewitt: More employers may need to reduce their 401(k) matches to conserve cash. In 2002, about 5 percent of companies cut back their matching contributions.


Whether current trends continue depends on the stock market's performance, Hess said.


"Some of the opt-outs could accelerate, the trading activity could accelerate, if markets keep going down. It's starting to scare people that it could be more than just the little dip that we saw back when the tech bubble burst."


(Reporting by Nick Zieminski; Editing by Lisa Von Ahn, Brian Moss, Dave Zimmerman)
Copyright © 2008 Reuters

[James48843]

Today's Govexec.com:


TSP officials face leadership challenges
By Brittany R. Ballenstedt
bballenstedt@govexec.com (bballenstedt@govexec.com)
December 15, 2008


Officials overseeing the Thrift Savings Plan have met with a member of President-elect Barack Obama's transition team to discuss leadership issues as well as future changes to the plan, the TSP's legislative director said on Monday.

At a monthly meeting on Dec. 15, TSP Legislative Director Thomas Trabucco said he talked with an Obama representative last week and advised him that all the terms of the Federal Retirement Thrift Investment Board's five members have expired. They are serving as holdovers, but can be replaced at any time.

"Our enabling legislation set up staggered terms to support policy continuity and ongoing institutional knowledge through overlapping service at the board level," he said. "These goals are being frustrated at this time."

On a nonpartisan basis, the White House nominates three board members, while the House and Senate each nominate one person. Of the current board, two members' terms have been expired since 2006; the remaining three terms expired in 2007 and earlier this year.

Three of the board's officials -- Alejandro Sanchez, Andrew Saul and Gordon Whiting -- received bipartisan approval (http://www.govexec.com/dailyfed/0408/041108ar1.htm) from the Senate Homeland Security and Governmental Affairs Committee in May, but the Senate leadership pulled the nominations just before the Memorial Day recess, Trabucco said.

The fact that all five board members are currently in holdover status stymies the appointment overlap designed to provide continuity and maintain institutional knowledge of TSP oversight, especially through presidential transitions. With all members in holdover status, the board could experience complete turnover if the nominations are not confirmed by the end of this congressional session.

Trabucco noted that during the last presidential transition from Clinton to Bush, when only two members were serving terms, Clinton made two additional recess appointments on Jan. 3, 2001. "That brought the number of members serving in staggered terms to four during that transition," he said.
TSP officials have apprised Senate leadership and the Bush administration of their concern, according to Trabucco. Members of the Employee Thrift Advisory Council, which consists of labor unions and other federal employee groups, also have written the Senate leadership and the Obama transition teams of their support for the pending board nominees, he said.

"Although the hour is late," he said, "it is my hope that this situation can be addressed in the next few weeks."

Trabucco said TSP officials also advised the Obama representative of legislation that passed the House in July that would have allowed automatic employee enrollment and changed the default fund for indecisive investors. Officials expressed support for those provisions, and he said they were still examining the possibility of adding a Roth option to the TSP.

TSP officials also will be meeting with the new leadership of the House Oversight and Government Reform Committee early next year "to get a sense of what their interests are going to be ... and what we've got on our plates for the 111th Congress," Trabucco said. Last week, House Democrats elected Rep. Edolphus Towns of New York to replace Rep. Henry Waxman of California as chairman of the committee, while Republicans voted to confirm Rep. Darrell Issa of California to replace retiring Rep. Tom Davis of Virginia as ranking member.

Meanwhile, officials noted that investments in the TSP fell to $198 billion in November, down from a high of $234 billion in May. "This is not the way we'd like to see things go," said Renee Wilder, director of the TSP's Office of Research and Strategic Planning.

Wilder also said TSP participation dipped in November to 84.4 percent, down from 85 percent in October and a high of 86 percent in May. The participation rate is at its lowest since September 1997, she added.

The number of loans and withdrawals were lower in November than TSP officials anticipated, Wilder said, but still were running slightly higher than in 2007.

"It's a tough time for anybody to be an investor," said Gregory Long, executive director of the plan. "But we are doing our best to communicate with our participants and get through this challenge."

Long added that the board will provide a demonstration of its new Web site redesign at a board meeting in May 2009. Officials said they also plan to examine the financial health of its annuity provider -- Metropolitan Life Insurance Co. -- to determine whether it is licensed in all 50 states. Such licenses would ensure financial protection by state insurance funds, officials said.

http://govexec.com/story_page.cfm?articleid=41628&dcn=todaysnews

[James48843]

For what it is worth-

Andrew Saul, the head of the Thrift Board, is the controlling agent on the Saul Trust, and the beneficial voter over a little more than 1.7 million shares of stock in the Cache company, while other family members have addtional millions of shares.

Was that why he was placed in charge of the TSP?

Or could it have to do with his campaign contributions to G.W.'s 2000 campaign, and history of campaign donations? (Can you say pay to play?)

I find it very interesting that Cache's stock hasn't done very well lately.


5241


I guess that means his net worth took quite a tumble.



Would you say-


Evidence that God exists?



From the SEC:

As of the close of business on February 8, 2008 (http://www.secinfo.com/drHG7.tNx.htm#Dates):

Andrew M. Saul may be deemed to own beneficially 1,713,259 shares, representing 425,630 shares directly held by Andrew Saul, 702,460 shares directly held by the Estate of Joseph E. Saul, Andrew Saul's father, 331,600 shares directly held by Norma Saul, Andrew Saul's mother, 128,569 shares directly held by Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey), Andrew Saul's sister and 125,000 shares directly held by Saul Partners, LP, of which Andrew M. Saul (http://www.secinfo.com/$/SEC/Name.asp?S=andrew+m%2E+saul) is the Managing Partner. All of the foregoing shares are subject to an oral agreement to vote and dispose of the shares jointly. Each of these holders disclaims beneficial ownership of all shares other than those held in his or her name.

The Estate of Joseph E. Saul may be deemed to beneficially own 1,713,259 shares representing 702,460 shares directly held by the Estate of Joseph E. Saul, 425,630 shares directly held by Andrew Saul, Joseph E. Saul's son, 331,600 shares directly held by Norma Saul, Joseph E. Saul's wife, and 128,569 shares directly held by Jane Saul Berkey, Joseph E. Saul's daughter, and 125,000 shares directly held by Saul Partners, LP, of which the Estate is a partner. All of the foregoing shares are subject to an oral agreement to vote and dispose of the shares jointly. Each of these holders disclaims beneficial ownership of all shares other than those held in his or her name.


Norma Saul may be deemed to beneficially own 1,713,259 shares, representing 331,600 shares directly held by Norma Saul, 425,630 shares directly held by Andrew Saul, Norma Saul's son, 702,460 shares directly held by the Estate of Joseph E. Saul, Norma Saul's husband, 128,569 shares directly held by Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey), Norma Saul's daughter and 125,000 shares directly held by Saul Partners, LP of which Norma Saul is a Partner. All of the foregoing shares are subject to an oral agreement to vote and dispose of the shares jointly. Each of these holders disclaims beneficial ownership of all shares other than those held in his or her name.

Jane Saul Berkey may be deemed to beneficially own 1,713,259 shares representing 128,569 shares directly held by Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey), 331,600 shares directly held by Norma Saul, Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey)'s mother, 702,460 shares controlled by the Estate of Joseph E. Saul, Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey)'s father, 425,630 shares directly held by Andrew Saul, Jane Saul Berkey's brother and 125,000 shares directly held by Saul Partners, LP of which Jane Saul Berkey is a Partner. All of the foregoing shares are subject to an oral agreement to vote and dispose of the shares jointly. Each of these holders disclaims beneficial ownership of all shares other than those held in his or her name.

Saul Partners, LP may be deemed to beneficially own 1,713,259 shares representing 125,000 shares directly held by Saul Partners, LP, 425,630 shares directly held by Andrew Saul, Managing Partner of Saul Partners, LP, 702,460 shares directly held by the Estate of Joseph E. Saul, Limited Partner of Saul Partners, LP, 331,600 shares directly held by Norma Saul, Limited Partner of Saul Partners, LP, and 128,569 shares directly held by Jane Saul Berkey (http://www.secinfo.com/$/SEC/Name.asp?S=jane+saul+berkey), Limited Partner of Saul Partners, LP. All of the foregoing shares are subject to an oral agreement to vote and dispose of the shares jointly. Each of these holders disclaims beneficial ownership of all shares other than those held in his or her name.

The Group Members as a whole may be deemed to own beneficially 1,713,259 shares of Common Stock, constituting approximately 12.86% of the shares outstanding.

[Gumby]

Today's Govexec.com:

"It's a tough time for anybody to be an investor," said Gregory Long, executive director of the plan. "But we are doing our best to communicate with our participants and get through this challenge."



Greg,

You might start listening to people that actually invest in the TSP......like give back the unlimited IFT's and stop holding people's money hostage. You might get better participation. Have much $$$$ have you lost for participants through your new rules. You have forced most people to be buy-n-holders at the worst possible time.:sick: