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Thread: My money, our TSP fund, and the 2008 TSP IFT Rule.

  1. #25

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by nsurf9 View Post
    Perhaps Mr. Dailing, effectively our representative, might meet with key members of TSP Talk, TSP Fantasy and their attorney, representing several thousand Federal employees and TSP members? He's right in Alexandria, phone number is provided.

    Clifford Dailing, chairman of the Employee Thrift Advisory Council(ETAC).

    "ETAC is a federal advisory committee established by the Federal EmployeesRetirement System Act of 1986 to give a voice to the participants in the operations."

    [url]http://democrats.oversight.house.gov/images/stories/SUBCOS/727 pslp tsp/Dailing Testimony Final.pdf
    Leave it alone. You just don't get it.

    Let me lay it out so that it is clearer for you---

    Before the current ETAC President was in place, there was another ETAC President.

    The previous ETAC president and I passed e-mail traffic back and forth, regarding the issue of Barclays, the slush fund, and trading limits.

    Shortly thereafter, the ETAC president's body was found, dead in his apartment, at age 47.
    http://www.govexec.com/dailyfed/0709/070109p2.htm

    Does that make it clear enough for you?

    I had the signatures of 4,000 + TSP shareholders behind me. Submitted to the TSP management (Mr. Long) for the Notice of Proposed rule making. Those signatures were blown off completely by Mr. Long and company.

    And I had a website, TSPSHAREHOLDER.ORG, where I laid out the costs and the harm that would be done to shareholders by limiting trades. My calculations proved correct. AFTER they limited trades, the costs went UP, not down.

    And I shared that information with several members of the ETAC at the time.

    And the head guy. Richard Brown.

    And shortly afterwards, before anything could be put on an agenda, ...THE HEAD OF THE ETAC's BODY was found.

    Now do you get it?

    The 1% (Actually, the 0.01%) at the top do not want you to be able to move your money.

    THEY are Barclays, and Black Rock, and the ones who control the strings.

  2.  
  3. #26

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by James48843 View Post
    Leave it alone. You just don't get it.

    Let me lay it out so that it is clearer for you---

    Before the current ETAC President was in place, there was another ETAC President.

    The previous ETAC president and I passed e-mail traffic back and forth, regarding the issue of Barclays, the slush fund, and trading limits.

    Shortly thereafter, the ETAC president's body was found, dead in his apartment, at age 47.
    http://www.govexec.com/dailyfed/0709/070109p2.htm

    Does that make it clear enough for you?

    I had the signatures of 4,000 + TSP shareholders behind me. Submitted to the TSP management (Mr. Long) for the Notice of Proposed rule making. Those signatures were blown off completely by Mr. Long and company.

    And I had a website, TSPSHAREHOLDER.ORG, where I laid out the costs and the harm that would be done to shareholders by limiting trades. My calculations proved correct. AFTER they limited trades, the costs went UP, not down.

    And I shared that information with several members of the ETAC at the time.

    And the head guy. Richard Brown.

    And shortly afterwards, before anything could be put on an agenda, ...THE HEAD OF THE ETAC's BODY was found.

    Now do you get it?

    The 1% (Actually, the 0.01%) at the top do not want you to be able to move your money.

    THEY are Barclays, and Black Rock, and the ones who control the strings.
    Wow, that is some serious conspiracy theory...

  4.  
  5. #27

    Join Date
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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Just remember who has the deepest pockets.
    Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."


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  7. #28

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    [QUOTE=James48843;340336]Leave it alone. You just don't get it.

    Let me lay it out so that it is clearer for you---

    Before the current ETAC President was in place, there was another ETAC President.

    The previous ETAC president and I passed e-mail traffic back and forth, regarding the issue of Barclays, the slush fund, and trading limits.

    Shortly thereafter, the ETAC president's body was found, dead in his apartment, at age 47.
    http://www.govexec.com/dailyfed/0709/070109p2.htm


    http://voices.washingtonpost.com/fed...d_brown_d.html

    Richard N. Brown, president of the National Federation of Federal Employees, had more than just TSP IFT transfer limits on the table, there was also NSPS (the "pay for performance" answer to the GS pay scale), and he isn't the only union leader MIA. I haven't found a cause of death - just "unknown causes" and "no comment" Arlington county. I must say this 47 year old man's death seems, on first blush, suspect. But, my answer is 3-plus million Federal Employees should not be diswayed from laying claim and taking authority and responsibililty for what was, is, and what will always rightfully be theirs.

    Excerpt from Washington Post article:

    In recent days, Ault said Brown had expressed strong concerns that the Obama administration had yet to end the controversial National Security Personnel System. The two planned to meet next week with other federal union leaders to update their strategy to lobby against the program.

    Brown appeared last week at a Defense Business Board meeting on NSPS. The pay-for-performance operation used to measure the work of approximately 211,000 Defense Department civilians has vocal critics and few defenders.

    "Defense workers have already made up their minds on NSPS. They want it gone once and for all," Brown told the board. "I agree with this assessment. I believe that NSPS is unsalvageable and the best possible course of action is full repeal."

  8.  
  9. #29

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by James48843 View Post
    There is no legal recourse. The board is empowered by law to write the rules.

    Of course, we could a go to the next meeting as "Occupy FTRIB", and try to convince them to listen to us that way.


    MIC CHECK!
    Didn't you try to meet with the FRTIB when they were still considering the rule? I know I contributed a few bucks to the fight back then.
    God bless the United States of America!

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  11. #30

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by Viva La Migra View Post
    Didn't you try to meet with the FRTIB when they were still considering the rule? I know I contributed a few bucks to the fight back then.
    I traveled to D.C. and met with members of the ETAC. Provided several members of the ETAC with hard data and copies of the petitions.


    and thanks for the donation.

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  13. #31

    Thumbs up Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by James48843 View Post
    I traveled to D.C. and met with members of the ETAC. Provided several members of the ETAC with hard data and copies of the petitions.


    and thanks for the donation.

    James, as you may know, I was pretty frustrated and hot under the collar about that time, also. However, I did not know of the extent of your efforts. And, unfortunately, I feel a 2008 de javu again, and again needlessless find myself with no ability to protect my TSP account. To you and those that donated and helped with that effort, have my sincere thanks. nsurf9

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  15. #32

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by James48843 View Post
    I traveled to D.C. and met with members of the ETAC. Provided several members of the ETAC with hard data and copies of the petitions.


    and thanks for the donation.
    I wish I could have contributed more than I did. Though we didn't prevail, I thought you did an outstanding job representing those of us who actively manage our accounts. I'm prepared to donate again, if need be.
    God bless the United States of America!

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  17. #33

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by Viva La Migra View Post
    I wish I could have contributed more than I did. Though we didn't prevail, I thought you did an outstanding job representing those of us who actively manage our accounts. I'm prepared to donate again, if need be.
    Me too!



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  19. #34

    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by nasa1974 View Post
    You're right we cannot be forced to put money into our TSP accounts. But remember that TSP is 1/3rd of your retirement if you are FERS. So why not get your matching funds. If you are FERS, unless you have a better way to set up a retirement fund, why not take advantage of TSP. In case you didn't know, all new hires are automatically put into TSP. I would have to go back and look which fund they are being put in, it is either G or one of the L funds.

    I think you are missing my point. I was responding to a post that said Obama and Congress will force us to contribute more into TSP. My reply was that I don't know how they could force that so my belief is they would "force" it by reducing matching contributions. Now, if they could force it, why would they? It may benefit the country WAY down the line by leaving retirees better off to care for them selves monitarily, but I've never known the federal government to have any sort of foresight. So that leaves me to believe they want to do with the TSP as they did with Social Security. Start pulling from it and leaving IOU's that the current work force has to fill for the current retirees.

    At this point, of course I know that the more I put in, the more I will have at retirement. But I have to wonder why DC would try to FORCE me to put more in. Suspicious cap is on.

    BTW, funds for new hirees are put in the G fund.

  20.  
  21. #35

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    Quote Originally Posted by SteelSaving View Post
    I think you are missing my point. I was responding to a post that said Obama and Congress will force us to contribute more into TSP. My reply was that I don't know how they could force that so my belief is they would "force" it by reducing matching contributions. Now, if they could force it, why would they? It may benefit the country WAY down the line by leaving retirees better off to care for them selves monitarily, but I've never known the federal government to have any sort of foresight. So that leaves me to believe they want to do with the TSP as they did with Social Security. Start pulling from it and leaving IOU's that the current work force has to fill for the current retirees.

    At this point, of course I know that the more I put in, the more I will have at retirement. But I have to wonder why DC would try to FORCE me to put more in. Suspicious cap is on.

    BTW, funds for new hirees are put in the G fund.
    Ok, back up. Back WAYYYYY up.

    The bill in Congress today (House Version), is not going to require people to contribute more to TSP.

    The bill in Congress today (House version) IS going to require employees to contribute more to their FERS pension.


    Today, employees pay 0.8% of their salary into the FERS pension account. When they retire, they get back their contribution, plus their Agency puts in money, and that's how FERS is funded.


    Under this bill, employees no longer will pay 0.8% into FERS, but rather will pay a LOT more. It would up the employee contribution to 2.3% of their pay (for standard FERS employees), and 2.8% of their pay for the law enforcement early out people.



    That would be the same as a pay cut in your take home pay.


    That's what was being talked about- not a forced TSP.

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  23. #36

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    Default Re: My money, our TSP fund, and the 2008 TSP IFT Rule.

    But wait- there's MORE.

    (Cue Ronco pocket fisherman theme...)

    You also get a WHOLE NEW set of rules for employees hired after December, 2012.

    You get: Instead of FERS contribution going from 0.8% to 2.3%, employees hired after December 2012 will have to pay 4%.


    And instead of getting 1% for each year of service, those who are hired after Dec 2012 will only get 0.7% for each year of service.

    Meaning a 30-year career FERS employee's pension will be: PAY IN 4%, get out 21% instead of 30% for a 30 year career.

    Details:
    the legislation would introduce a new retirement structure for employees hired after December 31, 2012 with less than five years of credible service for retirement purposes. The employee contribution to FERS would increase from 0.8% to 4% of salary, an increase of 3.2 percent over current law. The employee contribution for special occupational groups and Members of Congress is also increased by a total of 3.2%, from 1.3% to 4.5%. Under existing law, the employer contribution equals the normal retirement cost reduced by the employee contribution.

    The new retirement structure would also change the FERS pension formula salary base for all retirees to the highest-five years’ average salary. Existing CSRS and FERS employees remain subject to a highest-three years’ average salary base.

    The FERS pension formula multiplier for basic retirees would also change to 0.7% points, instead of 1% (or 1.1% with 20 or more years of service). Employees in special occupational groups are subject to a proportional adjustment to the multiplier (0.3 percentage points lower than current law).
    More:
    http://www.fedsmith.com/article/3212...ay-freeze.html


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