Inter Fund Transfers

[buybest]

Just a intresting point of info---I hope all the members of this message board consider writing the TSP Board (get the correct address from the live phone asst) and recommending that the TSP members (us) be treated like the rest of the investment community when it comes to trading funds--That is that we be given the ability to make transactions up to the closing market hour and given the closing price. I have written them but the more letters they receive the more likely they might consider it. Lets helpeach other out andsupport this effort. This will benefit everyone in the TSP. Thanks

[grandma]

We could also be involving our congressmen; it seems that TSP is wanting to be used as a model for Social Security revamping.

I'd be happy with what we have. Do you realize that most 401K''s don't allow you to trade your funds everyday? It raises the cost of the funds. Some you even pay a penalty if you don't hold them for 180 days. Even mutual funds with online brokers you have to wait at least 3 days to settle when you sell them.

I'm quite happy with TSP like it is, these aren't ETF's we are investing in.

[Rolo]

I'll have to agree with tsptorture there.

I, too,would like today's order to be executed today, but that doesn't happen with any mutual fund trading that I know of.

[grandma]

tsptorture wrote:
I'd be happy with what we have. Do you realize that most 401K''s don't allow you to trade your funds everyday? It raises the cost of the funds. Some you even pay a penalty if you don't hold them for 180 days. Even mutual funds with online brokers you have to wait at least 3 days to settle when you sell them.

I'm quite happy with TSP like it is, these aren't ETF's we are investing in.

Golly, tsptorture, that is scarry! We would lose the progress we made from twice a month! Thank you for That information! :s

I do know I read somewhere about the cost of just changing the system tomarket close time;maybe that was here on another forum/thread.

[buybest]

Overall some of your comments are true however there are many areas of the investment that allow this. That aside we already have the ability to move $ around every day the only issue is changing the hour of the day to 4 pm est at the market close. This will change little else and actually the only issue is the cost ofthe change. As i'm sure we all know having been in gov't for years the only constant is change and everyone is constantly paying for it in one way or another--why not play on equal ground.

[buybest]

You are absolutely correct this somewhat secret info is in fact the model for private social security. Pres Bush will most likely anounce this in the very near future. Just imagine how the market will move with this kind of $ inflow. and just to reference another members negative comment- these changes will all take place and we will absorb the costs associated with them along with any benefits or drawbacks. This is just another reasion to be able to transfer funds until close of business, 4pm est instead of 12 noon. Go with the flow-change hopefully better will be the end result.

I only hope they don't start charging a fee per trade. That way buy and holders aren't penalized.

I have one question I'm not sure of. Can you get out of the TSP program and withdraw your money while still with the govt? I know most companies don't allow this.

[buybest]

You are incorect. I know of several types ofvariable annuities that will allow this, however you are correct about settlement times, tradesetc. The issue is smart $ can always wait to see what the afternoon info is and make a better decision. We have always been at some what of a disadvantage when it came to non federal workers especially during the last 10/15 years this tsp system has evolved and will continue to do so no matter what we do or say the only thing we can do is try to push in a direction that will benefit us not tie our hands as so manyothers have. Have you been around the gov't for many years you would know all the cuts and benefit reductions we had. I remember when I became a federal employee I was given a retirement booklet/schedule-well we didn't have the tsp back then but what I wouldn't give to have those benefits today--No windfall,social security not reduced, and thelist goes on and on. So I leave you with this final thought, change is ever present and if itwill benefit us then try to make it happen if you don't then they will do whatever they want just as in the past.

[tsptalk]

tsptorture wrote:
I have one question I'm not sure of. Can you get out of the TSP program and withdraw your money while still with the govt? I know most companies don't allow this.

http://www.tsp.gov/features/chapter12.html#sub5

tsptalk wrote:
tsptorture wrote:
I have one question I'm not sure of. Can you get out of the TSP program and withdraw your money while still with the govt? I know most companies don't allow this.

http://www.tsp.gov/features/chapter12.html#sub5I assume that is no?

[tsptalk]

tsptorture wrote:
I assume that is no?
Sorry. I guess the link didn't go deep enough. Here is some info directly fromhttp://www (http://www.tsp.gov).tsp.gov (This information could change so checktsp.gov for current information)...



How do I request an in-service withdrawal? http://www.tsp.gov/resources/top.gif
Before you apply for an in-service withdrawal, read the booklet TSP In-Service Withdrawals (http://www.tsp.gov/forms/tspbk12.pdf). Use the Account Access (http://www.tsp.gov/account/index.html) section of this Web site or complete Form TSP-75 (http://www.tsp.gov/forms/tsp-75.pdf), Age-Based In-Service Withdrawal Request, or Form TSP-76 (http://www.tsp.gov/forms/tsp-76.pdf), Financial Hardship In-Service Withdrawal Request (depending on the type of withdrawal you are requesting).Both forms are available from this Web site or the TSP Service Office (http://www.tsp.gov/features/def_ch1-TSP-service-office.html).

If you have a pending application for another in-service withdrawal or for a TSP loan at the time your request is received, your request will not be accepted. Only one request for an in-service withdrawal or a loan is permitted at a time.

If you want to transfer all or any portion of an age-based in-service withdrawal to a traditional IRA or eligible employer plan (http://www.tsp.gov/features/def_ch12-TSP-eligible-retirement.html), have your IRA or plan complete the appropriate section of Form TSP-75 (http://www.tsp.gov/forms/tsp-75.pdf). Financial hardship in-service withdrawals are not eligible to be transferred.

Thank you sir! I guess I can't just take my money out and quit the program.