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Thread: No more < 1 pct IFT option to round up after 2nd IFT as of October 2020

  1. #1

    Default No more <1% IFT option to round up after 2nd IFT as of October 2020

    Well, it was fun while it lasted (since 2009) but looks like TSP finally got so fed up with employees like me with 50+ IFTs a year that they changed the code. Without notice:

    But rounding up in C, S, I, or F, etc. after the second IFT is no longer allowed. As shown on the IFT records (which are also on my account on this website), I last did it successfully on 9/29/20, and it worked fine; then, I rounded up C, S, and I (total of 3%), and reduced G by 3%. Today, I tried to round up 39.71% C to 40%, 40.05% S to 41%, round I from 10.05 to 11%, and F from 10.12 to 8%, and I got an error saying I can't transfer funds to anything but G. So let me try to do the same roundings and increase G by 3% and reduce F to 5%....nope...that don't work neither.

    Spread the word....no more <1% IFT round ups.


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  3. #2

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    10,609

    Default Re: No more <1% IFT option to round up after 2nd IFT as of October 2020

    Thanks for the information.
    How many years did it take them to realize what was going on?
    I can't imagine there were too many people doing the <1% move.
    May the force be with us.

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  5. #3

    Default Re: No more <1% IFT option to round up after 2nd IFT as of October 2020

    Of course that's what the L-funds do every day, so just not for us anymore.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

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

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  7. #4

    Join Date
    Aug 2011
    Location
    Mississippi
    Posts
    368

    Default Re: No more <1% IFT option to round up after 2nd IFT as of October 2020

    I was doing it quite a bit there for a while to take advantage of an upswing when I was a little light and had no more IFT's. That's one reason my IFT count is so high.

    I still don't get it. What costs are involved when we make IFT's? I'd think that no actual people are involved in little 'ol Scott Harrison's IFT. Isn't it just a bunch of computers talking to one another through automation? I mean, I get an e-mail confirmation from the TSP every time I initiate an IFT and I don't really believe there's an overworked government employee in an office somewhere typing out a message to me. I'd really like to know.

    Also, they'll still let you make numerous IFT's as long you're moving to the G Fund, but wouldn't that basically cost the same as "rebalancing" with a <1% move in the other funds?
    Scott Harrison
    Senatobia, MS

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  9. #5

    Join Date
    Sep 2006
    Location
    Rocky Mountain High
    Posts
    6,810

    Default Re: No more <1% IFT option to round up after 2nd IFT as of October 2020

    Another reason to move money from tsp after retirement.
    Weatherweenie's Account Talk
    Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Expected retirement date: November 2023

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SPY (C Fund) (delayed)
No more < 1 pct IFT option to round up after 2nd IFT as of October 2020
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
No more < 1 pct IFT option to round up after 2nd IFT as of October 2020
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
No more < 1 pct IFT option to round up after 2nd IFT as of October 2020
(Stockcharts.com Real-time)
BND (F Fund) (delayed)
No more < 1 pct IFT option to round up after 2nd IFT as of October 2020
(Stockcharts.com Real-time)

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