12%ayear's Account Talk

[FUTURESTRADER]

Mailed TSP-50 APRIL 10TH..still no transfer. They said they did not recieve it. I bet they put it in a wait for the market to tank pile and then put it in that day. I am pissed!!!!!!!!!!!!!

Did your transfer go through yet, 12%? The first one I sent on April 1st was effective April 8th, 5 biz days after I mailed it. I mailed another on April 15th and is still not effective COB today April 24th, 7 biz days after mailing. I think they figure we're close enough to the May 1st deadline. I just hope they turn us snailmailers back on electronically. I'm not holding my breath.

 

[Steadygain]

Mailed TSP-50 APRIL 10TH..still no transfer. They said they did not recieve it. I bet they put it in a wait for the market to tank pile and then put it in that day. I am pissed!!!!!!!!!!!!!

Want you to know (and that goes for all the Snail Mailers) I am seeing more and more the huge NEGATIVE impact that would have on making reasonably timed moves and am thrilled to hear in another week - we are all on the same page.

Glad all the BULL**** is finally over. Now if it doesn't happen I'll be doubly mad because the end looks so close.

 

[12%ayear]

Did your transfer go through yet, 12%? The first one I sent on April 1st was effective April 8th, 5 biz days after I mailed it. I mailed another on April 15th and is still not effective COB today April 24th, 7 biz days after mailing. I think they figure we're close enough to the May 1st deadline. I just hope they turn us snailmailers back on electronically. I'm not holding my breath.

yes..thanks for asking. Time consuming to say the least. They will turn the snailmailers back to EFTs. It will be 2 per month or 3 EFTs if you count the G Fund for the last one. We have to be smart about it. I think I have a good plan that will work. All slates will become clean May 1st for all. Careful not to go over.

 

[12%ayear]

Want you to know (and that goes for all the Snail Mailers) I am seeing more and more the huge NEGATIVE impact that would have on making reasonably timed moves and am thrilled to hear in another week - we are all on the same page.

Glad all the BULL**** is finally over. Now if it doesn't happen I'll be doubly mad because the end looks so close.

I hear your pain. Many hardworking folks here just want to make some $$ to enjoy our retirement. Hang in there, We can do well with those 2 EFTs. Better than playing the TSP-50 Lottery.

 

[nasa1974]

crhuss,

Where you previously sanctioned? According the the Federal Register there is still no limit to IFT"s but the the watched few the Executive Director has to determine what is excessive use of your privilige to IFT. I would have to think that four trades (three actually because I thought the move to G fund did not count for total IFT's) in a months period would not be considered excessive in a court of law. It does not even pass the commen sense test.
It appears that the Board has taken it upon themselves to make examples of a few to keep the rest in line. If I understand article 5 this would go against the responsibility of the Executive Director and he could be held financially responsible. "In my opinion". Good Luck.

 

[merlin]

yes..thanks for asking. Time consuming to say the least. They will turn the snailmailers back to EFTs. It will be 2 per month or 3 EFTs if you count the G Fund for the last one. We have to be smart about it. I think I have a good plan that will work. All slates will become clean May 1st for all. Careful not to go over.

Happy to hear that your transaction finally took place. I haven't sent a TSP 50 to them yet. It just doesn't feel right. I am still to mad to even look at the form. Fortunately the last EFT was 5G,10F,25C,30S and 30I. I haven't did too bad. But would have like to EFT out when the market started going down. Good luck to all. Hurry up May 1...

 

[crhuss]

"

WRONG. The final rule posted today (and existing regulation) states that the IFT counts on the date POSTED, not DATE REQUESTED. NAIL THEM WITH THEIR OWN WORDS!"

Right or wrong Twinkletoes...I still got knocked out of the game. In their explanation, the Board said that my Feb 29 IFT request knocked me out. Like I said earlier, the A holes just want to show their muscle and make things difficult for us. Proof....what good did it do to express our concerns about their stupid rules....Nothing...Nada..zip...zero. They just do what the hell they want. I wish I knew how to nail them....but they would just find another way to make my life miserable. And now it is too close to May 1 to make a difference. I assume that those of us that have been band from making IFTs on line will be re instated. Am I wrong?

 

[FUTURESTRADER]

Was it cost effective for the TSP to mail the certified letters and lock out the ~590 accounts for the month of April vs. waiting for May 1st implementation? (Which I'm still not completely convinced will occur on May 1st.)

 

[FUTURESTRADER]

yes..thanks for asking. Time consuming to say the least. They will turn the snailmailers back to EFTs. It will be 2 per month or 3 EFTs if you count the G Fund for the last one. We have to be smart about it. I think I have a good plan that will work. All slates will become clean May 1st for all. Careful not to go over.

Are we sure it is just 1 IFT back to G or unlimited?

 

[EW_ret]

One needs to consider the percentage currently allocated to the equity/bond funds when moving by small increments back into G fund. If your current allocation in G/C/S/I is 42.0%/23.5%%/15.8%/18.7% you have to make sure you round DOWN when stating the new percentage as 44%/23%/15%/18%, with a 2% increase in G fund. Otherwise, you are attempting to buy into the equity funds even if your G allocation percentage increases. This means you will not be allowed to rebalance to a target allocation, after the first two IFTs, if it increases your equity position by even a small amount. Anyway, thats how I see it.

 

[nasa1974]

If in fact what you are saying is how it will work then they have made it way to completed for most of the members to understand. This will have serious backlass as I see it. Not just 4000 to 5000 members upset, but try at least half of the membership. Man the first six months will be very interesting. :laugh:

 

[Callme_CO]

how about a class action lawsuit against them for pain and suffering and loss of profit becuase we couldn't transfer out to another fund?

 

[12%ayear]

One needs to consider the percentage currently allocated to the equity/bond funds when moving by small increments back into G fund. If your current allocation in G/C/S/I is 42.0%/23.5%%/15.8%/18.7% you have to make sure you round DOWN when stating the new percentage as 44%/23%/15%/18%, with a 2% increase in G fund. Otherwise, you are attempting to buy into the equity funds even if your G allocation percentage increases. This means you will not be allowed to rebalance to a target allocation, after the first two IFTs, if it increases your equity position by even a small amount. Anyway, thats how I see it.

great point. So for example, if I am 100% C Fund after the first 2 EFTs, I will be able to EFT small %s into the G Fund at a time without being locked out. I also think the new system will be foul proof to prevent anyone from going over.

 

[Guest2]

great point. So for example, if I am 100% C Fund after the first 2 EFTs, I will be able to EFT small %s into the G Fund at a time without being locked out. I also think the new system will be foul proof to prevent anyone from going over.

Thats how I'm reading the whole thing. Good points by all !

 

[12%ayear]

Time to lock profits. Looking for a green day today and bad until Friday. Watch out below this week. Fed news will not be good for the markets. I will enter the S FUND Friday. Going to the G Fund today.

 

[MohammadXX]

Fed news will not be good for the markets.

Please explain why you believe a .25% decrease or zero decrease in fed fund rates would be bad in light of current inflation concerns. Thank you.

 

[Silverbird]

Please explain why you believe a .25% decrease or zero decrease in fed fund rates would be bad in light of current inflation concerns. Thank you.

I'm not 12% but the market usually pushes for interest rate cuts because it in theory means cheaper money. However, this year lowering fed fund rates hasn't led to lower interest rates overall; so what has been happening is what I call a market "pout" (a sudden drop after the announcement) followed by a bounceback. Caveat as always that the market can be a fickle beast.

 

[luv2read]

http://www.tsptalk.com/mb/showpost.php?p=162030&postcount=1

 

[12%ayear]

Please explain why you believe a .25% decrease or zero decrease in fed fund rates would be bad in light of current inflation concerns. Thank you.

Simple, it is not what they do, it is what they say. Also, the US DOLLAR needs to pushed higher. They can lower rates all they want, banks are not lending and buyers are afraid. The Fed needs to fight Inflation by raising rates and this will push the US DOLLAR higher. High Dollar =lower oil prices.

 

[12%ayear]

get ready for higher rates