Thread: PETITION TO INCREASE # of IFT's

Originally Posted by nasa1974

Kim Weaver, director for external affairs for the Federal Retirement Thrift Investment Board, on Wednesday said the board does not plan to change the rule. “Nothing that has happened in industry practice or in the TSP has given us reason to revisit the limitation imposed in 2008,” she wrote in an email. “At the end of the day, the TSP is a retirement plan, not a mutual fund.” ..."

Actually, our index funds are mutual funds. You go to sell and you get the share price they determine at the end of the day. It certainly isn't an ETF or stock that you can sell during market hours for a specific asking price.

Originally Posted by rreiche

Morning update. 2186 signatures.

How is it possible that this is not getting more traction?

Apathy and ignorance.

For those that don't know, A LOT of company retirement accounts require you to hold a fund for anywhere from 30 to 180 days. I'd hate to have to deal with those restrictions. This is the policy for Mutual of America:

"What Is Frequent Transfer Activity?
Mutual of America generally considers frequent transfer activity to have occurred if any purchase or transfer of approximately $10,000 or more in any investment fund and/or the Interest Accumulation Account under your annuity contract(s) is followed by redemptions of approximately $10,000 or more from that fund within a thirty (30) day period.

It also includes the reverse transaction into the same fund (e.g., redemption of approximately $10,000 or more from any fund, followed within thirty (30) days by a replacement of approximately $10,000 or more, regardless of the source). We monitor transfers in a fund across all of a customer’s annuity contracts. Therefore, a pair of transactions in the same fund is considered a frequent transfer even if each portion involves different annuity contracts."

Would I like a couple of more IFTs per month? Absolutely! However, that is available outside of TSP and nothing is keeping you from opening an account outside of TSP, either a taxable account or not. All you have to do is get off your duff and do it..................

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

Originally Posted by rreiche

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

i love pygmy geckos! as long as i don't have to eat them more than twice per month.

I really hate to disappoint anyone- BUT- when we did the petition at the time of the changes to the actual rule, we had around 4,000 signatures- and submitted them in accordance with the rules of the actual Federal Register / Administrative Procedures Act.

This petition is not a regulatory petition, and the Whitehouse Site has no legal authority to require any action. Just look at the current state of the Whitehouse Petition to require Trump to make his tax returns public- there are more than a MILLION signatures on that petition, and ...NOTHING.

https://petitions.whitehouse.gov/pet...use-compliance

All the Whitehouse.gov petition site is- (as set up by President Obama) is a way to ASK the government to do something- or make a statement related to something, AND there is no legal ramifications if they decide, like they have with the Taxes question- to simply ignore the will of the people.

We don't live in a democracy. Sorry.

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

(I still signed the petition)

Originally Posted by Itchn2retire

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

Me too. I left $50K in there just so I'd still have a TSP account, but most went to an IRA. No regrets either.

By the way, I'm not sure if you know but that 3 day settlement just means you can't sell anything you bought with your prior sale before the 3 days.

Example:

Sell $1000 worth of ABC.

Buy $1000 worth of XYZ that same day (allowed).

Can't sell XYZ until the 3rd day.

Originally Posted by tsptalk

By the way, I'm not sure if you know but that 3 day settlement just means you can't sell anything you bought with your prior sale before the 3 days.

Yes I'm aware. I just don't want to get in a habit of using unsettled funds in the event I miscalculate an entry and would like to get out. I do have one trade where I would have no issue using unsettled funds as I know I'll be holding that ETF for more than three days. Even if I got in too early and price drops after buying in.

Originally Posted by Itchn2retire

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

(I still signed the petition)

Are you losing much on the commissions and bid/ask spread by making frequent trades using ETF's?