IFT Transfer

Hello.

I was wondering if someone could clarify. If I place an interfund transfer BEFORE noon,do I get the closing price for THAT day? My head is spinning as I've gotten numerous answers. I realize it will not be REFLECTED until the following day,but the TSP states they upload the gain/loss of the shares first. Ok. The fund GAINED on the day I did the transfer. G, fund to C and S. The ONLY gain I saw was from my G fund which I never touched! No reflection of gains for the move to the C and S from the G. I did the transfer 8/3 before noon.

Thanks!

If you make an IFT today before noon, you will get today's closing price.

Wait until 12:01 today, you get tomorrow's closing price.

If you are in the G Fund today and move to the S fund before noon today, your account would get the miniscule gains of the G Fund for today, not the gain (or loss) of the S Fund. You would start to get the S fund gains or losses at COB tomorrow. If you wait until after noon to make the same move today, you wouldn't get the S fund gain or loss until the day after tomorrow. In the first example you buy the S Fund shares at the price it closes at today. If you waited until after noon you would buy the shares at the prices it closes at tomorrow. Hope that helps.

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Originally Posted by papahotel66

If you are in the G Fund today and move to the S fund before noon today, your account would get the miniscule gains of the G Fund for today, not the gain (or loss) of the S Fund. You would start to get the S fund gains or losses at COB tomorrow. If you wait until after noon to make the same move today, you wouldn't get the S fund gain or loss until the day after tomorrow. In the first example you buy the S Fund shares at the price it closes at today. If you waited until after noon you would buy the shares at the prices it closes at tomorrow. Hope that helps.

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You are almost 100% correct in your statement. The biggest point is not necessarily the closing cost but the number of shares in the "G" fund and the number of shares in the "S" fund after your IFT. If you had 1,000 shares in the "G fund and it closed at $15 a share that would give you $15,000 in your account. So before noon you do an IFT to the "S" fund and the "S" fund closes at $20 a share. Then at the end of the day you would have 750 shares in the "S" fund. At the close of the day you would take that $15,000 you had in the "G" fund and buy "S" fund at $20 per share. That would reduce the number of shares from 1,000 to 750 but the amount in your account would still be $15,000.

Just remember the cutoff for the day of transfer is 12:00 ET. If you are in the Central Time Zone you need to make sure you act before 11:00 CST. If you are on the West coast it will be even earlier. Gives you less time to figure out whether you want to make a transfer. I had a hard time with this when I started making IFTs. Best of luck to you!

oops

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Originally Posted by nasa1974

You are almost 100% correct in your statement. The biggest point is not necessarily the closing cost but the number of shares in the "G" fund and the number of shares in the "S" fund after your IFT. If you had 1,000 shares in the "G fund and it closed at $15 a share that would give you $15,000 in your account. So before noon you do an IFT to the "S" fund and the "S" fund closes at $20 a share. Then at the end of the day you would have 750 shares in the "S" fund. At the close of the day you would take that $15,000 you had in the "G" fund and buy "S" fund at $20 per share. That would reduce the number of shares from 1,000 to 750 but the amount in your account would still be $15,000.

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That's what I meant to say. Sorry it wasn't clear. Just an uneducated hick from the hills of VA not a rocket scientist like NASA!:laugh:

papahotel66, you made a good point. I just clarified your information. No matter how long you have been on this forum you are always learning new stuff and people are here to help everyone. Also your IFT deadline post is right to the point.
Good luck and stay engaged.

Thank you so much for your reply. Much appreciated.