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Thread: TSP Suspension of Transactions?

  1. #1

    Default TSP Suspension of Transactions?

    The TSP has been incredibly vague and this seems very irresponsible of them. Based on what I saw I was assuming IFTs would be halted on the 26th of May. One member says he was told the Thriftline would still accept transactions, and another just told me that he was told that IFTs will stop starting May 16.

    Their website does say:

    Temporary suspension of certain transactions starts May 16 until the first week in June.
    That's clear as mud!

    It goes on to say:

    Key transition dates

    Expected transition dates

    May 16 to the first week of June

    All transactions temporarily unavailable May 26 to the first week of June
    Are we mind readers?

    We know it is tough to get information from the representatives on the phone but the conflicting information is very frustrating.

    Anyway, it may be possible that IFTs are being shut down this coming Monday May 16, not May 26. I don't why they couldn't say that, and because they didn't I am still skeptical because that seems like very important information to leave out.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Please do your own due diligence.


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  3. #2

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    Default TSP Suspension of Transactions?

    The TSP posted an updated message- you can still do Interfund Transfers until Noon eastern time on May 26.

    Here is what is now posted:

    “May 26, noon

    Last day to make investment transactions (including interfund transfers and changes to contribution allocations).”




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    From: https://www.tsp.gov/new-tsp-features...nsition-dates/

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  5. #3

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    Default Re: TSP Suspension of Transactions?

    James, Thanks for the update. This is still unacceptable. This change should have been back-tested enough that the switchover to the new system could be implemented over the Memorial Day weekend. I think it is less critical that we don't have access to the TSP-60 Forms for two weeks, but to take away our access to making an IFT for at least 5 days is unreasonable. Yes, I know back in the beginning we use to call-in or even snail mail our IFT's. That was then. Fast forward 40 years we shouldn't have to be handcuffed this way.
    May the force be with us.

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  7. #4

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    Default Re: TSP Suspension of Transactions?

    The inability to make IFT's for a full five days might be the best thing that could ever happen to some people financially.

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